Civic Financial Services for Michigan investors
Civic Financial Services (now part of PacWest Bank) is a long-standing national non-QM lender with full product suite. 75% LTV on cash-out refinance.
Michigan context
Michigan strongest cash flow markets in country. Detroit and Flint produce 1%+ rent-to-price ratios. End-buyer market thin in some submarkets.
How Civic Financial Services positions in Michigan
Michigan is well covered by national DSCR lenders, with Civic Financial Services as one option. Where Civic Financial Services differentiates: broad product suite. Where it competes: rates 9.5 to 12 percent against peer programs.
City-level coverage in Michigan
Civic Financial Services provides DSCR coverage across Michigan metros including Detroit, Grand Rapids, and Lansing. Within each metro, submarket variation drives deal-specific underwriting more than lender selection. Civic Financial Services program terms apply uniformly across Michigan metros; the specific deal characteristics determine final pricing.
Terms and pricing
| Loan type | DSCR non-QM institutional |
|---|---|
| Products | fix-and-flip, BRRRR, rental, bridge |
| Loan size | $75K - $2.0M |
| Rates | 9.5%-12% |
| Points | 1 - 3 |
| Max LTV | 80% of ARV |
| Term lengths | 12-24 months (hard money) / 30-year (rental) |
| Typical close time | 10-21 days typical |
| Michigan property tax | 1.4% |
| Michigan state income tax | 4.25% |
Civic Financial Services strengths in Michigan
- broad product suite
- experienced team
- national reach
Ideal borrower: Mid-to-experienced investor with consistent deal flow
FAQ
Yes, operates nationally including Michigan. Civic Financial Services is based in Redondo Beach, CA and operates nationally.
Detroit is the top investor market in Michigan and falls within Civic Financial Services national coverage. Detroit property tax follows the Michigan state rate of 1.4 percent. Civic Financial Services typically underwrites Detroit acquisitions at standard rate sheets.
Yes. Grand Rapids ranks among the larger Michigan investor metros and sees consistent DSCR loan volume from Civic Financial Services. Submarket variation within Grand Rapids matters for property selection.
Civic Financial Services applies the same rate sheet across Michigan metros. Pricing variation comes from property-specific factors rather than metro location within the same state. Detroit, Grand Rapids, and Lansing all qualify for the same Civic Financial Services program.
Civic Financial Services indicative DSCR rate range is 9.5 to 12 percent with 1 to 3 points.
Michigan strongest cash flow markets in country. Detroit and Flint produce 1%+ rent-to-price ratios. End-buyer market thin in some submarkets. Civic Financial Services follows standard business-purpose loan structures.
Civic Financial Services funds fix-and-flip, BRRRR, rental, bridge in Michigan.
Michigan allows standard DSCR prepay structures; Civic Financial Services typically uses 3-5 year step down.
Civic Financial Services typical close: 10-21 days typical.
Bottom line
Civic Financial Services in Michigan works for the right borrower-deal combination. Match the lender to your deal characteristics.
Independent directory listing. DSCR Loan Program is not affiliated with Civic Financial Services.