Michigan real estate investors have a financing option that skips the personal income documentation altogether: the DSCR loan. Instead of pay stubs and W-2s, CoreVest evaluates the rental income a Michigan property is expected to generate, making it a natural fit for self-employed investors and those scaling a portfolio.
Competitive markets reward investors who can move fast, and Michigan is no exception, with affordable entry points for investors across Detroit, Grand Rapids, and Ann Arbor. DSCR loans streamline underwriting by focusing on one number — the property's rental income relative to its debt obligations — which typically means fewer documentation delays than a conventional loan.
Get in touch with CoreVest to see current Michigan DSCR loan rates and find out how much you could qualify for.
What is a DSCR loan?
A DSCR loan qualifies a borrower based on a rental property's income rather than personal income. Lenders calculate the Debt Service Coverage Ratio (DSCR) by dividing the property's rental income by its total debt obligations (principal, interest, taxes, insurance).
Do I need to show personal income to get a DSCR loan in Michigan?
No. CoreVest's DSCR loans are underwritten primarily on the property's projected or in-place rental income, not the borrower's personal income or employment history.
What property types qualify for a DSCR loan in Michigan?
Single-family residences (1–4 units), condos, and townhomes are eligible under CoreVest's 30-year DSCR program.
How much can I borrow?
Loan amounts range from $75,000 to $2M+, up to 80% of the property's value.
