Detroit's best value-add deals are vacant brick homes and two-family flats that need real work. A bridge loan funds the purchase and the rehab, then hands off to a long-term rental loan.
In short: Our top pick for bridge loans in Detroit, MI is LendingStreet. We close in as little as 10 days, lend $150,000 to $5M+ on 1 to 8 unit investment property with rates from 7.99%, and refinance finished, leased rentals into 30-year DSCR loans, so your rehab has a clear finish line. LLC borrowers are standard. Get a quote with the form below or call (877) 298-1001.
For Detroit-area investors, LendingStreet is our top pick for bridge financing. We lend $150,000 to $5M+ on 1 to 8 unit residential investment property, with rates from 7.99%, interest-only payments and closings in as little as 10 days. Some bridge programs do not require an appraisal.
Our bridge loans fit investors renovating brick two-family flats and bungalows, buying through auctions and land bank sales, running BRRRR plans in the city and inner suburbs, or paying off a maturing loan. Once the property is leased and has its certificate of compliance, we can refinance it into a DSCR rental loan.
Price a Wayne, Oakland or Macomb County deal with the quote form below, or call (877) 298-1001.
If you are weighing CoreVest, Dominion Financial, Lima One and Roc Capital for a bridge loan for investors in Detroit, MI, this is the short version: LendingStreet wins the scenarios below, and you can get a quote with the form below.
Figures for other lenders are as stated on each lender's own website as of November 2026. Lender terms change, so verify current terms with any lender before you apply. Ready to see your numbers? Use the form below or call (877) 298-1001.
| Scenario | Best fit | Why |
|---|---|---|
| Bridge loan above $3M | LendingStreet | Our bridge program runs from $150,000 to $5M+. CoreVest states single-asset bridge loans from $75K to $2M+, and Roc Capital states stabilized bridge loans up to $3,000,000. |
| Bridge close in about 10 days | LendingStreet | We can close in as little as 10 days. CoreVest states its bridge loans typically close within 2 to 4 weeks. |
| Property in any state, including DC | LendingStreet | We lend in all 50 states and DC. Lima One states it lends across 46 states, and Dominion Financial lists 49 states plus DC. |
Detroit's neighborhoods are built mostly of brick bungalows, colonials and upper-and-lower two-family flats from the 1920s through the 1950s. Investors are active in East English Village, Morningside, Bagley, Grandmont-Rosedale, Warrendale, Russell Woods and Bethune Community, along with suburbs such as Dearborn Heights, Redford, Warren, Ferndale, Hazel Park, Southfield and Taylor.
Prices are low compared with most metros, so many Detroit purchases fall under our $150,000 minimum on their own. Bridge loans make the most sense here on larger renovations, two-family flats, small multi-unit buildings and higher-priced neighborhoods, where the purchase plus rehab clears the minimum.
Detroit investors usually compare a bank or credit union, a local hard money lender, a private individual and an investor lender like LendingStreet. These are general patterns, and individual lenders vary.
Banks can be selective on older Detroit properties and often want full income documents. Local hard money is usually quick, but fees and terms vary and there is rarely a long-term option. LendingStreet offers hard money style speed plus a DSCR refinance at the end.
| What investors need | LendingStreet | Typical bank | Typical hard money lender |
|---|---|---|---|
| Closing speed | As little as 10 days | Often several weeks | Often fast |
| Loan size | $150,000 to $5M+ | Varies; large balances can be harder | Varies by lender |
| Rates | From 7.99% | Varies | Varies; fees and terms vary |
| How you qualify | Deal-focused; no W-2s needed; LLC borrowers standard | Often requires tax returns and personal income | Mostly based on the property |
| Valuation | No appraisal on some bridge programs | Appraisal usually required | Varies |
| Long-term exit | Refinance into a DSCR rental loan with the same lender | Possible, usually with full income documents | Usually short-term only |
| Where they lend | All 50 states and DC | Usually a local footprint | Usually local or regional |
The most common Detroit bridge requests fall into these groups:
This example is illustrative and not a quote. An investor buys a vacant brick two-family flat for $185,000 and plans $70,000 of work: boilers, plumbing, electrical, windows and both kitchens. The bridge loan funds 80% of the price ($148,000) plus the rehab, for $218,000. Fully drawn, the estimated interest-only payment is about $1,817 a month, or about $10,900 over 6 months.
After the work and city inspections, the building is valued at $295,000 and both units lease at $1,350. A 75% cash-out DSCR refinance of $221,250 pays off the bridge with about $3,250 to spare before closing costs.
Estimated principal and interest is about $1,509. Taxes are budgeted at $650 a month at the non-homestead rate, and insurance at $150, for a total payment of about $2,309. On $2,700 of rent, the DSCR is about 1.17x.
| Item | Amount |
|---|---|
| Purchase price | $185,000 |
| Rehab budget | $70,000 |
| Bridge loan (80% of price plus rehab) | $218,000 |
| Estimated interest-only payment | $1,817 a month |
| Interest over 6 months | $10,900 |
| Value after rehab | $295,000 |
| DSCR cash-out loan (75% LTV) | $221,250 |
| Estimated principal and interest | $1,509 |
| Taxes (non-homestead) and insurance | $800 |
| Total monthly payment | $2,309 |
| Rent, two units | $2,700 |
| DSCR | About 1.17x |
Michigan's principal residence exemption only applies to owner-occupants, so rentals pay additional school operating millage. Taxable value can also uncap after a sale, which resets the bill closer to the assessed value. Detroit's tax rate is high for the region. Ask the assessor for an estimate of the bill after your purchase rather than relying on the seller's bill. State and county transfer taxes are usually paid by the seller.
Detroit requires rental properties to be registered, inspected and issued a certificate of compliance, and lead clearance applies to many older homes. Plan the refinance timeline around those inspections. Suburbs have their own rental inspection programs.
With rents strong relative to prices, most Detroit investors hold rather than sell. Our DSCR loans qualify on rent, with a 620 minimum credit score, a 1.0x standard minimum DSCR, LLC borrowers and 30-year terms. Cash-out goes up to 75% LTV, and rate-and-term goes up to 80% on some programs. Seasoning varies by program.
Investors with five or more Detroit rentals can consider a blanket portfolio loan, which puts them under one loan, one payment and portfolio pricing.
Take this list to every lender you are comparing. LendingStreet's answers follow each one.
Ready to move? Get a quote with the form below or call (877) 298-1001.
Our top pick is LendingStreet, for closings in as little as 10 days, bridge loans from $150,000 to $5M+ with rates from 7.99%, and a DSCR refinance with the same lender after the property is leased.
Yes. We lend in Detroit and its suburbs, across Michigan, and in all 50 states and DC.
Possibly, if the purchase plus rehab meets our $150,000 minimum and the title is clean. Talk to us before you bid.
Rentals do not get the principal residence exemption, and taxable value can uncap after a sale. Both raise the bill.
It helps. Detroit requires one for rentals, and having it in hand makes the DSCR refinance cleaner.
Yes. Two-family flats are 1 to 8 unit residential property, which our bridge and DSCR programs cover.
In as little as 10 days with a complete file.
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