Deephaven Mortgage for Michigan investors
Deephaven Mortgage is a broker-only DSCR lender with a 660 minimum credit score and a firm 1.00 minimum DSCR. Maximum loan size is $2,000,000, with maximum LTV of 80% on purchase/rate-term and 70% on cash-out refinance. The company does not publish minimum loan size, rate, or state-coverage figures in the sources reviewed.
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 Deephaven Mortgage positions in Michigan
For Michigan specifically, Deephaven Mortgage fits investors who match the hard money approach. The high cash flow profile of Michigan aggregate makes it a target market for Deephaven Mortgage.
City-level coverage in Michigan
Deephaven Mortgage 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. Deephaven Mortgage program terms apply uniformly across Michigan metros; the specific deal characteristics determine final pricing.
Terms and pricing
| Loan type | DSCR non-QM institutional |
|---|---|
| Products | rental DSCR |
| Loan size | — - $2.0M |
| Rates | Not publicly published |
| Points | Not publicly published |
| Max LTV | 80% of ARV |
| Term lengths | Not publicly published |
| Typical close time | Not publicly published |
| Michigan property tax | 1.4% |
| Michigan state income tax | 4.25% |
Deephaven Mortgage strengths in Michigan
- 1.00 minimum DSCR
- Broker-only origination
- Maximum loan size $2,000,000
- 70% LTV on cash-out refinance
Ideal borrower: Broker-originated borrower with a fully qualifying 1.00+ DSCR.
FAQ
Likely; verify direct Michigan coverage. Deephaven Mortgage is based in an undisclosed location and operates in states not publicly disclosed.
Detroit is the top investor market in Michigan and is generally within Deephaven Mortgage states not publicly disclosed footprint. Detroit property tax follows the Michigan state rate of 1.4 percent. Deephaven Mortgage 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 Deephaven Mortgage. Submarket variation within Grand Rapids matters for property selection.
Deephaven Mortgage 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 Deephaven Mortgage program.
Deephaven Mortgage does not publish a rate sheet. Pricing is quoted per deal and depends on credit, leverage, coverage ratio and experience.
Michigan strongest cash flow markets in country. Detroit and Flint produce 1%+ rent-to-price ratios. End-buyer market thin in some submarkets. Deephaven Mortgage follows standard business-purpose loan structures.
Deephaven Mortgage funds rental DSCR in Michigan.
Michigan allows standard DSCR prepay structures; Deephaven Mortgage typically uses 3-5 year step down.
Deephaven Mortgage typical close: Not publicly published.
Bottom line
For Michigan DSCR borrowers, Deephaven Mortgage is one option among many. Compare against 2-3 lender programs before committing.
Independent directory listing. DSCR Loan Program is not affiliated with Deephaven Mortgage.