New Silver for Michigan investors
New Silver is a tech-forward non-QM lender with fast underwriting and accessible minimum loan sizes that suit newer investors.
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 New Silver positions in Michigan
For Michigan specifically, New Silver fits investors who match the hard money approach. The high cash flow profile of Michigan aggregate makes it a target market for New Silver.
City-level coverage in Michigan
New Silver 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. New Silver 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 | $100K - $3.0M |
| Rates | 9.5%-11.75% |
| Points | 1 - 3 |
| Max LTV | 85% of ARV |
| Term lengths | 12-24 months (hard money) / 30-year (rental) |
| Typical close time | 5-14 days typical |
| Michigan property tax | 1.4% |
| Michigan state income tax | 4.25% |
New Silver strengths in Michigan
- tech-driven fast underwriting
- low minimum loan sizes
- BRRRR-friendly
Ideal borrower: Newer-to-mid investor with smaller deal sizes
FAQ
Yes, operates nationally including Michigan. New Silver is based in West Hartford, CT and operates nationally.
Detroit is the top investor market in Michigan and falls within New Silver national coverage. Detroit property tax follows the Michigan state rate of 1.4 percent. New Silver 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 New Silver. Submarket variation within Grand Rapids matters for property selection.
New Silver 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 New Silver program.
New Silver indicative DSCR rate range is 9.5 to 11.75 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. New Silver follows standard business-purpose loan structures.
New Silver funds fix-and-flip, BRRRR, rental, bridge in Michigan.
Michigan allows standard DSCR prepay structures; New Silver typically uses 3-5 year step down.
New Silver typical close: 5-14 days typical.
Bottom line
Michigan investors considering New Silver should verify current rate sheets directly and confirm specific submarket coverage.
Independent directory listing. DSCR Loan Program is not affiliated with New Silver.