Great Lakes Private Lending for Michigan investors
Great Lakes Private Lending is a smaller regional private money operator with Chicago and Wisconsin coverage.
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 Great Lakes Private Lending positions in Michigan
Michigan is well covered by national DSCR lenders, with Great Lakes Private Lending as one option. Where Great Lakes Private Lending differentiates: regional Midwest focus. Where it competes: rates 9.5 to 12.5 percent against peer programs.
City-level coverage in Michigan
Great Lakes Private Lending 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. Great Lakes Private Lending program terms apply uniformly across Michigan metros; the specific deal characteristics determine final pricing.
Terms and pricing
| Loan type | Private money |
|---|---|
| Products | fix-and-flip, bridge, rental, private notes |
| Loan size | $50K - $2.0M |
| Rates | 9.5%-12.5% |
| Points | 1.5 - 4 |
| Max LTV | 70% of ARV |
| Term lengths | 6-18 months |
| Typical close time | 5-10 days typical |
| Michigan property tax | 1.4% |
| Michigan state income tax | 4.25% |
Great Lakes Private Lending strengths in Michigan
- regional Midwest focus
- investor-friendly underwriting
Ideal borrower: Chicago or Wisconsin investor
FAQ
Likely; verify direct Michigan coverage. Great Lakes Private Lending is based in Chicago, IL and operates in Chicago and Wisconsin.
Detroit is the top investor market in Michigan and is generally within Great Lakes Private Lending Chicago and Wisconsin footprint. Detroit property tax follows the Michigan state rate of 1.4 percent. Great Lakes Private Lending 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 Great Lakes Private Lending. Submarket variation within Grand Rapids matters for property selection.
Great Lakes Private Lending 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 Great Lakes Private Lending program.
Great Lakes Private Lending indicative DSCR rate range is 9.5 to 12.5 percent with 1.5 to 4 points.
Michigan strongest cash flow markets in country. Detroit and Flint produce 1%+ rent-to-price ratios. End-buyer market thin in some submarkets. Great Lakes Private Lending follows standard business-purpose loan structures.
Great Lakes Private Lending funds fix-and-flip, bridge, rental, private notes in Michigan.
Michigan allows standard DSCR prepay structures; Great Lakes Private Lending typically uses 3-5 year step down.
Great Lakes Private Lending typical close: 5-10 days typical.
Bottom line
Michigan investors considering Great Lakes Private Lending should verify current rate sheets directly and confirm specific submarket coverage.
Independent directory listing. DSCR Loan Program is not affiliated with Great Lakes Private Lending.