Hard Money
Bridge Loans in Detroit, MI
Looking for the best Bridge Loans in Detroit, MI? Our local team specializes in helping Detroit residents secure competitive financing. Whether you're buying in Midtown or Corktown, we have the expertise to guide you.
Key Facts About Bridge Loans
CMRE hard money loans fund in as fast as 7 business days.
Hard money loans from CMRE require 20-35% down payment.
CMRE hard money programs accept properties that conventional lenders decline.
Hard money rates at CMRE range from 9.99% to 13.99% depending on LTV and experience.
CMRE hard money loans cover fix-and-flip, bridge, and ground-up construction.
CMRE Bridge Loans funds in as few as 7 business days.
CMRE Bridge Loans is asset-based — property value drives qualification.
CMRE Bridge Loans LTV ranges from 65% to 90% ARV.
Program Benefits
Fast and flexible financing to bridge the gap between property transactions.
Competitive interest rates starting at 9.875%.
Ideal for homeowners looking to purchase a new home before selling their current one.
Simplified application and approval process for quick access to funds.
Allows you to make competitive offers without a sale contingency.
Opportunity to secure your dream home without the stress of timing the market.
Program Highlights
Max LTV
70%
Min Credit Score
600
Max DTI
50%
Loan Amount Range
$50K - $2M
Amortization Options
Eligible Properties
- Single Family
- Condo
- Townhouse
- Multi-Family (1-4 Units)
Program Requirements
Income Documentation
- •Stable income source to support loan repayment.
- •Proof of income documentation, such as pay stubs or tax returns.
- •Debt-to-income ratio assessment to ensure affordability.
- •Self-employed borrowers may require additional documentation.
Asset Verification
- •Sufficient assets to cover down payment, closing costs, and reserves.
- •Verification of asset ownership through bank statements or investment account statements.
- •Clear and documented source of funds for the transaction.
- •Existing equity in current property can be used.
Insurance & Title
- •Hazard insurance to protect the property against damage or loss.
- •Title insurance to ensure clear ownership and protect against title defects.
- •Flood insurance may be required depending on the property's location.
- •Proof of adequate coverage is required before loan closing.
Property Requirements
- •Minimum FICO score of 600.
- •Review of credit history to assess creditworthiness.
- •History of responsible credit management.
- •Explanation for any past credit issues may be required.
Bridge Loans in Detroit: The Complete Guide
What Is Bridge Loans?
A bridge loan is a short-term financing option used to 'bridge' the gap between purchasing a new property and selling an existing one. It provides quick access to funds, allowing borrowers to make offers on new homes without the contingency of selling their current home first. This can be particularly advantageous in competitive markets where speed and certainty are crucial.
Who Uses Bridge Loans?
- •Fix-and-flip investors needing fast acquisition and rehab capital.
- •Bridge borrowers financing between a sale and a purchase.
- •Auction buyers needing proof of funds and rapid closing.
- •Property owners facing foreclosure who need emergency refinancing.
- •Investors purchasing non-conforming properties traditional lenders won't finance.
Bridge Loans Terms and Structure
- •LTV: 65%-80% as-is value or 70%-90% ARV for fix-and-flip.
- •Terms: 6 months to 3 years — designed as short-term bridge.
- •Interest rates: 9%-14% depending on LTV, condition, borrower experience.
- •Interest-only payments standard. Exit strategy required.
- •CMRE funds in as few as 7 business days.
Get Bridge Loans from CMRE
- •Step 1: Submit property details — address, price, value estimate, scope of work.
- •Step 2: CMRE issues term sheet within 24-48 hours.
- •Step 3: Appraisal or BPO — fast-track available.
- •Step 4: Underwriting on property value and exit strategy.
- •Step 5: Funding in as few as 7 business days.
Current Mortgage Rates
30-Year Fixed Rate
6%
as of 3/5/2026 · FRED
15-Year Fixed Rate
5.43%
as of 3/5/2026 · FRED
Rates are national averages and may differ from your actual rate. Contact us for a personalized quote.
Get Your Rate →Bridge Loans in Detroit, MI
Detroit mortgage lending. FHA and first-time homebuyer programs for Wayne County. Custom Mortgage & Real Estate specializes in providing high-fidelity Bridge Loans solutions tailored to the unique economic landscape of Detroit and the surrounding Wayne County.
Our FinTech-driven approach allows us to offer competitive rates and streamlined processing for homeowners and investors across the entireDetroit metropolitan area.
Service Areas & Neighborhoods
Our Detroit Presence
Local Knowledge. Global Rates.
16501 Ventura Blvd STE 400
Encino, CA 91436
Direct Line
877-976-5669Common Questions About Bridge Loans in Detroit
What are current Bridge Loans rates in Detroit, MI?
Bridge Loans rates in Detroit depend on loan amount, credit profile, and property type. CMRE publishes updated Detroit rate ranges daily and provides locked quotes within 24 hours of application.
How long does Bridge Loans closing take in Detroit?
CMRE typically closes Bridge Loans loans in Detroit within 21-30 days from application. Pre-approval takes 24 hours, and our MI-licensed team coordinates title, escrow, and appraisal concurrently to save time.
How fast can CMRE fund Bridge Loans in Detroit?
CMRE funds hard money and bridge loans in Detroit in as fast as 7 business days. Experienced investors in Wayne County with strong equity positions may qualify for expedited underwriting.
What LTV does Bridge Loans allow in Detroit?
Bridge Loans from CMRE in Detroit typically requires 65-80% LTV depending on property type and borrower experience. Fix-and-flip investors in Wayne County may access higher leverage with track record documentation.
Application Process
Six simple steps from application to funding
Application
Complete our streamlined online application form with your financial information
Document Review
Submit required documentation for verification and processing
Pre-Approval
Receive conditional approval and loan terms based on your profile
Title & Escrow
Open escrow and complete title search and insurance requirements
Appraisal & Final Review
Property appraisal completed and final underwriting approval received
Funding
Sign final documents and receive your loan funds
Application
Complete our streamlined online application form with your financial information
Document Review
Submit required documentation for verification and processing
Pre-Approval
Receive conditional approval and loan terms based on your profile
Title & Escrow
Open escrow and complete title search and insurance requirements
Appraisal & Final Review
Property appraisal completed and final underwriting approval received
Funding
Sign final documents and receive your loan funds
Why Choose Custom Mortgage?
Your trusted partner in real estate financing
Extensive Experience
Over 25 years of proven expertise in mortgage lending and real estate financing
Comprehensive Loan Options
Wide range of programs from conventional to specialized non-QM and hard money solutions
Nationwide Coverage
Licensed in multiple states with the ability to fund loans across the country
Flexible Solutions
Customized financing options for unique situations that traditional lenders decline
Competitive Rates
Access to wholesale pricing and volume discounts passed directly to our clients
No Upfront Fees
Transparent pricing with no application fees or upfront costs to get started
Frequently Asked Questions
Interest rates vary depending on the lender, your credit profile, and the specifics of the loan. At CMRE, our bridge loan rates start at 9.875%. Contact us for a personalized rate quote.
The approval process is typically faster than traditional mortgages. CMRE streamlines the process to provide quick access to funds when you need them most. Closing can often occur in a matter of weeks.
The primary risk is the inability to sell your existing property within the loan term. If this happens, you may need to refinance the bridge loan into a longer-term mortgage, which could result in higher interest rates and fees. Careful planning and realistic expectations are essential.
As few as 7 business days from application. Same-day term sheets available.
65%-80% of current value. Fix-and-flip: up to 90% ARV.
Primarily asset-based — property value matters most. Credit is a factor but not the primary driver.
Typically 9%-14% depending on LTV, condition, and experience. 1-3 origination points.
Hard money is primarily for investment. Some owner-occupied programs exist with compliance requirements.
Bridge Loans by Location
Get local rates, loan limits, and market data for Bridge Loans in your area.
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View county-level market data, loan limits, and mortgage rates on our territory pages.
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Success stories from families and investors across the nation who achieved their goals with CMRE.
"I've been working with Custom Mortgage and Real Estate for over five years now, and they've totally helped me get through a bunch of tricky transactions. Their team is super helpful all the way through, making sure everything goes off without a hitch. I seriously recommend Custom Mortgage to anyone who needs financing or a solid real estate broker."
RENE M
"I just worked with Custom Mortgage and Real Estate, and seriously, I can't recommend them enough. They have helped my family and me with a bunch of transactions, always receiving results that nobody else could. Their team is super responsive and really experienced, which made everything go through smoothly with no stress at all."
ARTHUR G
"As an investor in real estate and an agent, I totally count on Custom Mortgage and Real Estate for my deals since they've got loads of experience. They have these unique programs that I just can't find anywhere else, and it really gives me an advantage. After researching a number of companies, the offers from Custom Mortgage were the best out there."
