Looking for a Michigan hard money loan? If you are interested in the variety of investment opportunities in MI, Do Hard Money can fund your hard money loan fast. Whether you’re looking to invest in a retail fix and flip property or looking to refinance a property in the Great Lakes State, Do Hard Money can fund your deal.
Do Hard Money will approve your asset-based loan completely by assessing the property not you as the borrower. A true hard money lender will base your loan approval on the investment property and the overall quality of the deal. Once we’ve evaluated the property, the LTV (loan to value) ratio of the deal will determine your loan amount. This loan amount, combined with our gap funding resources, can make it possible for you to get 100% Financing on your deal.
Michigan Hard Money Loan Terms
What Kind of Funding Is Available?
Up to 100% Financing Available
We fund up to 70% of the ARV
Minimum ARV of $70,000
No minimum loan amount
Maximum loan amount $250,000
Loan term 5 months
What Will It Cost?
Interest starting at 1.25% per month
Origination starting at 5.5%
No monthly payments
No and low cash to close options available
Gap financing allowed
No pre-payment penalty
Why Use DoHardMoney?
Full disclosure at time of loan offer
Proprietary foreclosure protection
No experience required
No minimum credit score required
Simultaneous deals allowed
*Dollar amounts are rounded estimates. DHM does not guarantee that each or any particular deal funded will result in profit
Michigan Real Estate Market Statistics (2015)
Michigan is home to thousands of beautiful inland lakes and ponds. It is also known as the center of the U.S. automotive industry, home to three major automobile companies. Michigan is a state rich in history and gorgeous peninsulas. Due to its natural beauty, Michigan has grown in popularity among home-owners, with house flips rising 29% and home values increasing 5.4% over the past year. The real estate market in Michigan is currently red hot, with sellers receiving multiple offers on homes within 1-2 days. Now is the ideal time to invest in a lucrative Michigan deal, with numerous buyers looking to purchase renovated properties in excellent areas. According to Mlive.com, “The average house sold last month was on the market for just 32 days, the lowest point in decades.”