Fix and flip financing in Michigan funds the purchase and the rehab budget, sized on cost and capped on after-repair value, with draws released against completed work. The terms are the same in every state Silt lends in; the state-specific part is the closing cost stack, title and the legal process that shapes your acquisition pipeline — especially if you buy distressed inventory.
Silt's terms do not change at the state line. The term sheet reflects the property, the file and the supported value.
Loan amounts
$200K – $8M
Leverage
90% LTC · 70% ARV
Rehab funding
100% of budget
Structure
Interest-only, 12–24 mo
Draws
Funded in 48h, app-based
Residential scope
1–40 units
WHAT IS SPECIFIC TO MICHIGAN
Michigan facts that touch this loan
Foreclosure. Michigan is listed as a non-judicial-foreclosure jurisdiction: a power-of-sale clause in the deed of trust or mortgage lets the sale proceed without a court judgment, following the statutory notice steps. MCL 600.3201 permits nonjudicial foreclosure by advertisement for a mortgage containing a power of sale upon default, subject to Chapter 32; the section excepts MSHDA-held mortgages. [1][2]
State real estate transfer tax. Michigan’s state real-estate transfer tax is $3.75 per $500 or fraction. Treasury identifies the seller or grantor as legally responsible, even if the contract requires the buyer to pay. The county component is separate. [3]
Taxable-value uncapping. A statutory transfer of ownership generally uncaps taxable value in the following calendar year under MCL 211.27a. Statutory exclusions mean not every conveyance uncaps; the seller’s capped taxable value may not carry forward. [4]
Nonpayment demand. MCL 600.5714(1)(a) permits summary possession proceedings after rent remains unpaid seven days after service of a written demand for possession. This is not a promise that an eviction finishes in seven days, and the provision is not residential-only. [7]
Foreign LLC authority. MCL 450.5002 requires a certificate of authority before a foreign LLC transacts business. MCL 450.5008 excludes owning property without more; the statute separately preserves tax and other regulatory questions. [5][6]
Foreign LLC certificate-of-authority fee. MCL 450.5101(1)(n) sets the foreign LLC certificate-of-authority application filing fee at $50. Registration does not resolve separate tax or licensing obligations. [8][9]
County transfer-tax component—government example. Van Buren County’s recorder lists county transfer tax of $0.55 per $500 or fraction, in addition to state tax of $3.75 per $500, paid by the seller or grantor when value is $100 or more. Check exemptions and the property’s own county requirements. [10]
Title-insurer and title-agent escrow channel. Michigan DIFS Bulletin 2002-03-INS describes title insurers and title agents accepting escrow funds until closing when a title policy is issued, with separate-account safeguards. This supports a title/escrow channel, not attorney exclusivity. [11]
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LARGEST METRO AREAS
Where Michigan's population is
By Census Bureau population estimates, Vintage 2025 (July 1, 2025). Silt lends statewide — these markets are not a limit. Metros are ranked by full-area population among those listing this state first in the Census name; Washington is also included for Virginia and Maryland. Interstate totals are not state-only populations. [12]
Detroit-Warren-Dearborn, MI
Grand Rapids-Wyoming-Kentwood, MI
Lansing-East Lansing, MI
Flint, MI
Ann Arbor, MI
FAQ
Fix & flip in Michigan: questions investors ask
Does Silt make fix & flip loans in Michigan?
Yes. Michigan is one of the states Silt lends in, and the fix & flip program covers renovation of 1–40 unit residential property.
Is Michigan a judicial or non-judicial foreclosure state?
Michigan is listed as a non-judicial-foreclosure jurisdiction: a power-of-sale clause in the deed of trust or mortgage lets the sale proceed without a court judgment, following the statutory notice steps. MCL 600.3201 permits nonjudicial foreclosure by advertisement for a mortgage containing a power of sale upon default, subject to Chapter 32; the section excepts MSHDA-held mortgages.
Do fix & flip terms change in Michigan?
No. The program terms are the same in every state Silt lends in: loan amounts $200K – $8M; leverage 90% LTC · 70% ARV; rehab funding 100% of budget; structure Interest-only, 12–24 mo; draws Funded in 48h, app-based; residential scope 1–40 units. The final term sheet reflects the property and the file.
Can I close in an LLC in Michigan?
Every Silt loan closes in an LLC or corporation, never a personal name. MCL 450.5002 requires a certificate of authority before a foreign LLC transacts business. MCL 450.5008 excludes owning property without more; the statute separately preserves tax and other regulatory questions.
What closing taxes should I budget in Michigan?
Michigan’s state real-estate transfer tax is $3.75 per $500 or fraction. Treasury identifies the seller or grantor as legally responsible, even if the contract requires the buyer to pay. The county component is separate.
How do draws and inspections work on a rehab?
Submit photos and invoices from the site through the app. Standard line items are reviewed remotely against the approved budget, and draws are funded in 48 hours.
Estimates on this page are not a commitment to lend. State facts reviewed October 2026; laws and rates change — confirm with your title company or attorney.