Let's be direct: almost no single rental in Flint is worth $1.5M. A jumbo DSCR loan in Genesee County makes sense when an investor has assembled a large portfolio of low-cost homes and wants to refinance them together.
In short: LendingStreet offers jumbo DSCR loans of about $1.5M to $5M+ for Flint-area investors, qualified on rent with no W-2s or tax returns. In Genesee County, those balances almost always come from refinancing 20 or more rentals under one blanket loan, or from a few higher-value homes in Grand Blanc, Fenton or on Lake Fenton. Michigan's uncapping on sale and non-homestead school millage are the tax items to get right.
Flint's rental stock is mostly modest single-family homes, many built for auto workers in the mid-20th century, in neighborhoods across the city and in Burton, Mount Morris and Flint Township. Values are low, so it takes many homes to reach a jumbo balance.
Grand Blanc, Fenton, Linden and Davison have newer and larger homes, and Lake Fenton and Lobdell Lake have waterfront property. Even there, single homes at $1.5M are uncommon.
Hurley Medical Center, McLaren Flint, the University of Michigan-Flint, Kettering University and the remaining General Motors operations support rental demand.
| Route | Areas | Check |
|---|---|---|
| Portfolio of 20 or more homes | Flint, Burton, Flint Township, Mount Morris | Each parcel's taxable value after uncapping |
| Small group of buildings | Near UM-Flint and Kettering | Unit condition, systems |
| Larger or lakefront home | Grand Blanc, Fenton, Lake Fenton | Few comparable leases |
At LendingStreet, jumbo DSCR financing generally means a loan of about $1.5M to $5M+ on a non-owner-occupied rental with 1 to 8 units. You can use it to buy, to refinance into better terms, or to pull cash out.
The file is underwritten on the rent: monthly rent divided by principal, interest, taxes, insurance and any HOA dues. Most programs want that ratio at 1.0x or better, with a 620 minimum credit score and no personal income documents. LLCs can borrow, and 30-year terms are available. The leverage ceiling of 80% LTV on a purchase and 75% on cash-out tends to drop as the balance rises; it varies by program.
Michigan caps increases in taxable value while one owner holds a property, but when it sells, the taxable value uncaps and resets to the state equalized value, which is half of market value. Rentals also do not receive the principal residence exemption, so they pay additional school operating millage. The seller's bill is often well below yours.
Flint's city millage is relatively high. Michigan charges state and county transfer taxes on sales, usually paid by the seller. On a portfolio, a refinance does not uncap value, but recently purchased homes may already carry higher bills.
This example is illustrative and not a quote. Run the numbers on a portfolio refinance. An investor owns 30 single-family rentals in Flint, Burton and Flint Township, worth $2,100,000 together. Monthly rent is $30,000. The budget carries $4,500 a month for taxes and $2,700 for insurance.
A 75% LTV loan of $1,575,000 has estimated principal and interest of about $10,878; with taxes and insurance the payment is about $18,078, so DSCR is about 1.66x. Dropping to 65% LTV, or $1,365,000, brings estimated principal and interest to about $9,428, the payment to about $16,628 and DSCR to about 1.80x.
Low prices and steady rents can produce strong coverage on a Flint portfolio. A blanket loan pulls all 30 homes into one closing and one payment, with release provisions for later sales.
| Item | 75% LTV | 65% LTV |
|---|---|---|
| Loan amount | $1,575,000 | $1,365,000 |
| Estimated principal and interest | $10,878 | $9,428 |
| Property taxes | $4,500 | $4,500 |
| Insurance | $2,700 | $2,700 |
| Total monthly payment | $18,078 | $16,628 |
| Monthly rent | $30,000 | $30,000 |
| DSCR | About 1.66x | About 1.80x |
Many Flint homes are 60 to 100 years old, with aging roofs, furnaces and plumbing, and vacant lots or vacant neighbors can raise insurance questions on some blocks. The city has replaced many lead service lines in recent years; ask for records showing the line material for each home. Winters bring snow and freeze-thaw cycles.
Flint and some surrounding communities have rental registration or inspection requirements. Check each city or township before closing, since a portfolio may span Flint, Burton and Flint Township, each with its own rules.
Most jumbo files here run on 12-month leases, and steady long-term tenants matter more than top-of-market rent on a large Flint portfolio. Some tenants use housing assistance, which brings its own inspection standards; underwriting uses the lease rent where it is supported by the market.
Single rentals at $1.5M+ essentially do not exist in Flint. Jumbo here means a large portfolio.
A bigger loan means a closer look. Plan on more months of reserves, a careful appraisal review and, on some programs, a second appraisal. High-end homes and larger buildings often have few true comparables, which makes signed leases and a solid rent schedule more valuable.
When the numbers land just under 1.0x, lowering the loan amount is usually the simplest fix; sub-1.0 programs are another option.
Refinancing is common at this size. Cash-out tops out at 75% LTV and is often lower on large loans, rate-and-term can reach 80% on some programs, and seasoning requirements for cash-out vary by program.
A clean file moves faster. Start with these items.
Our investor loans are business-purpose loans on non-owner-occupied property. See our Michigan jumbo DSCR page for statewide context.
Send the address, price or estimated value, current or projected rent and the leverage you want. The LendingStreet team will run the ratio on realistic taxes and insurance, test it at a few loan sizes and come back with options. You can also call (877) 298-1001 or use the form below.
No. Uncapping happens on a transfer of ownership, not a refinance. Homes you bought recently may already be uncapped.
There is no stated maximum on our DSCR programs. Jumbo loans commonly run from about $1.5M to $5M+, with leverage and reserves set by program and by the size of the loan.
Yes, on a blanket portfolio loan, qualified on combined cash flow.
Yes, in the sense that no W-2s or tax returns are required. The property's rent has to cover the full payment, and credit, reserves and funds to close are still verified.
Rentals do not get the principal residence exemption, so they pay extra school operating millage.
No, but it is common and fully allowed. If you use one, we will need the formation documents and operating agreement, and you will typically sign for the loan personally.
No. Our investor loans are business-purpose loans on non-owner-occupied property. The home must be held as a rental.
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