Recently Funded Fix And Flip Loan In Detroit, Michigan
Loan Scenario:
A borrower tackling an ambitious full-scale renovation partnered with American Heritage Lending to refinance a Detroit single-family mid-project, and a fix and flip loan gave the rehab the runway it needed. With an as-is value of $80,000, a $175,000 rehab budget, and a projected after-repair value of $225,000, we structured a rate-and-term refinance of $168,750 on a 12-month interest-only term. The financing was underwritten to 92.21% loan-to-cost and a conservative 75% loan-to-after-repair-value, keeping the leverage aligned with the finished-product valuation.
The scope of work is a true gut renovation, spanning demolition of the kitchens, baths, and bedrooms across both floors, followed by fresh HVAC, plumbing, and electrical rough-ins, new drywall, millwork, paint, and full flooring and trim-out. Detroit continues to be one of the country’s most active value-add markets, where Michigan investors can transform distressed inventory into rent-ready or resale-ready homes at a fraction of coastal costs.
By supporting the project through completion, we helped the borrower stay on schedule toward a clean refinance exit. If you have a heavy rehab in the works, see how our financing can carry it across the finish line.
Similar Recently Funded Case Studies: Fix & Flip Loan in Brookhaven, PA • Fix & Flip Loan in East Bend, NC • Fix & Flip Loan in Woodbridge, VA
Key Deal Points
| Address | Detroit, MI |
| Loan Type | Fix and Flip – Refinance |
| Borrower Profile | No Experience |
| Property Type | Single Family Detached |
| Appraised Value | $80,000 |
| Rehab Budget | $175,000 |
| After Repair Value | $225,000 |
| Loan Amount | $168,750 |
| LTC | 92.21% |
| LTARV | 75.00% |
| Term | 12-Month Interest-Only |
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