No W-2. No Tax Returns.
A DSCR loan in Flint qualifies on the property's rent rather than your W-2 or tax returns — business-purpose financing for non-owner-occupied rentals, available to LLCs as standard. What makes Flint its own underwriting problem: Michigan forecloses by advertisement — non-judicial. That is exactly the kind of variable that one lender's credit box handles badly and thirty handle well, which is how LendingStreet places the file.
Check My Flint Rental Loan Options →The economy runs on Hurley and McLaren health systems, the University of Michigan–Flint, Kettering University, and residual General Motors operations. The rental stock is a large pre-war and mid-century stock in the city at very low basis, and materially higher-basis suburban stock in Grand Blanc, Fenton and Flushing.
Michigan forecloses by advertisement — non-judicial. Flint city runs at one of the lowest bases in the country, so renovation exceeds purchase price on almost every city deal, and the ARV comparable set is thin in many blocks. The suburbs — Grand Blanc, Fenton — are a different market entirely. Water-infrastructure history affects lender and buyer perception of specific parcels; confirm service-line replacement status.
Standard ranges across our capital sources: $150,000 to $3.5M, up to 80% LTV on purchase and 75% on cash-out, 1.00 minimum ratio with sub-1.0 and no-ratio at select sources, 660 credit standard with 640 and 620 tiers, 30-year fixed, LLC vesting with personal guaranty, 14 to 21 days to close. Full detail and the current rate floor are on the DSCR loan page. The figures on your file depend on the source, the property and the ratio.
The Flint metro — Flint plus Grand Blanc, Flushing, Burton, Fenton, Davison and Swartz Creek — and the rest of Michigan via the Michigan DSCR page. Investor activity in Flint concentrates in College Cultural, Mott Park, East Village, Woodcroft, Grand Blanc; the loan is underwritten identically anywhere in the metro.
Run the ratio in the DSCR calculator with real Flint tax and insurance figures before you submit — those lines decide more ratios here than the rate does.
Also see: Detroit, MI →Grand Rapids, MI →
Yes — Flint, Grand Blanc, Flushing, Burton, Fenton, Davison and Swartz Creek, and the rest of Michigan.
It affects the lender's side. A faster recovery timeline widens the pool of sources comfortable writing there; a slower one makes some conservative on leverage. We account for it in placement.
STR demand is minimal; underwrite on long-term rent. We underwrite on long-term market rent.
Typically 14 to 21 days from a complete file. Appraisal is the longest fixed step.
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