Harpoon Capital for Michigan investors
Harpoon Capital is a broker-only private money lender with no stated minimum DSCR — it will consider deals below 0.75 DSCR. Minimum credit score is 620, with loan sizes from $50,000 to $3,500,000 and maximum 85% LTV. The company does not publish 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 Harpoon Capital positions in Michigan
Michigan is well covered by national DSCR lenders, with Harpoon Capital as one option. Where Harpoon Capital differentiates: No minimum DSCR requirement — approves deals below 0.75. Where it competes: rates not publicly published against peer programs.
City-level coverage in Michigan
Harpoon Capital 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. Harpoon Capital program terms apply uniformly across Michigan metros; the specific deal characteristics determine final pricing.
Terms and pricing
| Loan type | Private money |
|---|---|
| Products | rental DSCR |
| Loan size | $50K - $3.5M |
| Rates | Not publicly published |
| Points | Not publicly published |
| Max LTV | 85% of ARV |
| Term lengths | Not publicly published |
| Typical close time | Not publicly published |
| Michigan property tax | 1.4% |
| Michigan state income tax | 4.25% |
Harpoon Capital strengths in Michigan
- No minimum DSCR requirement — approves deals below 0.75
- Loan sizes from $50,000 to $3,500,000
- 620 minimum credit score
- Broker-only origination
Ideal borrower: Investor with a cash-flow-negative property (DSCR below 0.75) seeking a broker-originated private money lender with no DSCR floor.
FAQ
Likely; verify direct Michigan coverage. Harpoon Capital 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 Harpoon Capital states not publicly disclosed footprint. Detroit property tax follows the Michigan state rate of 1.4 percent. Harpoon Capital 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 Harpoon Capital. Submarket variation within Grand Rapids matters for property selection.
Harpoon Capital 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 Harpoon Capital program.
Harpoon Capital 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. Harpoon Capital follows standard business-purpose loan structures.
Harpoon Capital funds rental DSCR in Michigan.
Michigan allows standard DSCR prepay structures; Harpoon Capital typically uses 3-5 year step down.
Harpoon Capital typical close: Not publicly published.
Bottom line
For Michigan DSCR borrowers, Harpoon Capital is one option among many. Compare against 2-3 lender programs before committing.
Independent directory listing. DSCR Loan Program is not affiliated with Harpoon Capital.