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Metro Detroit • 31 mortgage lenders profiles
Commercial Mortgage in Metro Detroit
Compare verified commercial lenders for mixed-use, retail, office and apartment buildings in Metro Detroit. Request a consultation and finance with confidence.
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31Mortgage Lenders profiles
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Rebuild Detroit is not a lender or mortgage broker, does not make credit decisions or quote rates, and information here is general, not financial advice.
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Top Commercial Mortgage Pros in Metro Detroit
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Before you hire
Commercial Mortgage in Detroit: what to expect
A commercial mortgage in Detroit finances property used for business or income: mixed-use storefronts on corridors like Livernois and Grand River, small apartment buildings, office, retail, industrial and owner-occupied business property across Wayne, Oakland and Macomb counties. Five or more units usually counts as commercial rather than residential lending.
Commercial underwriting looks at the property as much as the borrower. Lenders weigh net operating income, debt service coverage, loan-to-value, tenant quality, environmental reports and the condition of older buildings. Terms are typically shorter than a home mortgage, often with a balloon, and many loans require a personal guarantee.
Banks, credit unions, SBA lenders, life companies and private lenders all compete here. For one to four unit rentals see DSCR investor loans, and browse all Metro Detroit lenders.
What a good engagement includes
- A review of the property, rent roll, leases and operating statements
- Discussion of loan options such as bank, SBA or bridge financing
- Commercial appraisal and, often, an environmental site assessment
- A written term sheet or commitment letter with all conditions
- Disclosure of guarantees, reserves and covenants
- Explanation of prepayment terms and any balloon date
- Coordination with your attorney and title company at closing
What drives the fee
- Property type, condition and location
- Net operating income and debt service coverage
- Loan-to-value and your cash equity in the deal
- Term, amortization and any balloon
- Recourse versus non-recourse and guarantor strength
- Prepayment penalty structure
- Third-party reports: appraisal, environmental and property condition
Rebuild Detroit does not publish fees. Ask each attorney to explain the fee basis in writing and compare.
Licensing and disclosures in Michigan
Michigan's mortgage licensing laws, administered by DIFS, focus on loans secured by homes, so a commercial lender may not appear with a Michigan license in NMLS. Ask what kind of institution the lender is, confirm banks and credit unions through their regulators, and check any NMLS ID on NMLS Consumer Access.
Commercial loans are business-purpose credit and do not come with a Loan Estimate. Have a Michigan real estate attorney review the commitment and loan documents before you sign.
Verify: NMLS Consumer Access lookup DIFS: Mortgage brokers, lenders and servicers File a complaint with DIFS How We Vet
How to compare attorneys
- Share the same property package with two or three lenders.
- Compare term sheets on amortization, balloon, prepayment and recourse.
- Ask about reserves, covenants and reporting requirements.
- Confirm what third-party reports you pay for and whether they transfer.
- Check references from borrowers with similar Detroit property.
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Common questions
Commercial Mortgage FAQ
Start with local banks and credit unions that lend on your property type, add an SBA lender if you will occupy the building, and compare written term sheets.
Property type, income and debt service coverage, loan-to-value, term, recourse and prepayment terms all change pricing. Rebuild Detroit does not quote rates.
Usually yes. Residential mortgage programs generally cover one to four units, so five or more units is typically financed with a commercial or multifamily loan.
Michigan's mortgage licensing act focuses on residential loans, so many commercial lenders operate without a DIFS mortgage license. Ask each lender how it is regulated.
Get commercial mortgage consultations from local pros
Compare Metro Detroit mortgage lenders and confirm credentials, scope and cost drivers before you hire.