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Multifamily record
Independent Bank, Grand Rapids, MI: multifamily loans made
Independent Bank, Grand Rapids, MI, a bank based in Grand Rapids, MI, made 16 multifamily loans in 2024 and 2025, $57M in all, in 1 state. The typical loan was about $1.8M, and the largest about $14M. Most were in Wayne County, MI.
- Evidence
- Multifamily loans made in 2024 and 2025, HMDA
- Data as of
- HMDA 2025
- Page last changed
- November 9, 2026
- Multifamily loans
- 16
- HMDA,
- 2024 and 2025. Manufactured-home parks excluded
- Dollars
- $57.0M
- HMDA,
- Rounded amounts
- Typical loan
- $1.8M
- HMDA,
- Largest loan
- $14M
- HMDA,
- Rounded to 2 significant figures
- States
- 1
- HMDA,
Cite this
Source: The Lender Report, Independent Bank, Grand Rapids, MI: multifamily loans made, https://lender.report/lender/independent-bank-mi/multifamily/, data as of December 31, 2025.
The loans, newest first
Banks report no loan-level data for office, retail, industrial or construction loans. This list shows only multifamily and SBA loans.
| Period | Place | Loan | Amount | Rate | Term | LTV | Source |
|---|---|---|---|---|---|---|---|
| 2025 | Kent County, MI | Purchase, 50 to 99 units | $14M | 6.85% | 21 yr | HMDA 2025 | |
| 2025 | Wayne County, MI | Purchase, 25 to 49 units | $2.1M | 7.5% | 18.4 yr | HMDA 2025 | |
| 2025 | Wayne County, MI | Purchase, 25 to 49 units | $1.4M | 6.44% | 16 yr | HMDA 2025 | |
| 2025 | Wayne County, MI | Purchase, 5 to 24 units | $1.1M | 7.5% | 18.4 yr | HMDA 2025 | |
| 2025 | Oakland County, MI | Cash-out refinance, 5 to 24 units | $660K | 6.62% | 5 yr | HMDA 2025 | |
| 2025 | Ingham County, MI | Purchase, 5 to 24 units | $600K | 7.75% | 5 yr | HMDA 2025 | |
| 2025 | Lenawee County, MI | Purchase, 5 to 24 units | $420K | 7.44% | 5 yr | HMDA 2025 | |
| 2025 | Muskegon County, MI | Refinance, 5 to 24 units | $420K | 6.22% | 5 yr | HMDA 2025 | |
| 2025 | Traverse City, MI | Purchase, 5 to 24 units | $420K | 7.5% | 15 yr | HMDA 2025 | |
| 2025 | Lapeer County, MI | Purchase, 5 to 24 units | $200K | 7.55% | 5 yr | HMDA 2025 | |
| 2024 | Wayne County, MI | Purchase, 50 to 99 units | $14M | 8.75% | 7 yr | HMDA 2024 | |
| 2024 | Wayne County, MI | Purchase, 50 to 99 units | $10M | 7.83% | 5 yr | HMDA 2024 | |
| 2024 | Wayne County, MI | Refinance, 100 to 149 units | $4.3M | 6.6% | 3 yr | HMDA 2024 | |
| 2024 | Oakland County, MI | Purchase, 25 to 49 units | $3.2M | 6.87% | 5 yr | HMDA 2024 | |
| 2024 | Ingham County, MI | Improvement, 5 to 24 units | $2.4M | 7.5% | 8.3 yr | HMDA 2024 | |
| 2024 | Muskegon County, MI | Cash-out refinance, 100 to 149 units | $1.8M | 6.68% | 5 yr | HMDA 2024 | |
| 16 multifamily loans made in 2024 and 2025 | $57.0M | HMDA 2024 and 2025 | |||||
A blank means the source did not report it.
| Place | As named | Loans | Dollars |
|---|---|---|---|
| Wayne County, MI | County | 6 | $32.9M |
| Ingham County, MI | County | 2 | $3.00M |
| Muskegon County, MI | County | 2 | $2.22M |
| Oakland County, MI | County | 2 | $3.86M |
| Kent County, MI | County | 1 | $14.0M |
| Lapeer County, MI | County | 1 | $200K |
| Lenawee County, MI | County | 1 | $420K |
| Traverse City, MI | Metro area | 1 | $420K |
A county is named only where the public file holds 5 or more multifamily loans there in the year; otherwise the metro area or the state is.
| Loan size | Loans | Dollars |
|---|---|---|
| Under $1M | 6 | $2.72M |
| $1M to $2.5M | 5 | $8.80M |
| $2.5M to $5M | 2 | $7.50M |
| $5M to $10M | 0 | $0 |
| $10M or more | 3 | $38.0M |
| Year | Loans | Dollars | Typical loan |
|---|---|---|---|
| 2024 | 6 | $35.7M | $4.3M |
| 2025 | 10 | $21.3M | $660K |
| Purpose | Loans |
|---|---|
| Purchase | 11 |
| Refinance | 2 |
| Cash-out refinance | 2 |
| Improvement | 1 |
| Units | Loans |
|---|---|
| 5 to 24 units | 8 |
| 25 to 49 units | 3 |
| 50 to 99 units | 3 |
| 100 to 149 units | 2 |
- Independent Bank, Grand Rapids, MI made 16 multifamily loans totaling $57M in 2024 and 2025, in 8 named places across 1 state. HMDA,
- It made 10 of them in 2025 and 6 in 2024. HMDA,
- The typical loan was about $1.8M, with the middle half between $600K and $4.3M. HMDA,
- The largest was about $14M. Every amount is rounded to 2 significant figures. HMDA,
- 6 loans were under $1M, and 3 were $5M or more. HMDA,
- It reported a median rate of 7.50% on 16 loans, with the middle half between 6.68% and 7.55%. HMDA,
- The median term was 5 years. HMDA,
- 25% of the loans were refinancings and 69% were purchases. HMDA,
- The most common property size was 5 to 24 units, with 8 loans. HMDA,
- Its loans were most often in Wayne County, MI (6), Ingham County, MI (2) and Muskegon County, MI (2). HMDA,
What we don't know
- Whether Independent Bank, Grand Rapids, MI is taking new multifamily loans today.
- Its minimum or maximum loan, its fees and its other terms. HMDA reports the rate, term and loan to value, and this page shows what it reports.
- Loans on office, retail, industrial or hotel property. HMDA covers dwelling-secured loans only.
Place is a county only where the public file holds 5 or more multifamily loans of that year there, otherwise the metro area or the state. Amounts are rounded to 2 significant figures and HMDA has a year, never a date.
HMDA covers dwelling-secured loans. Manufactured-home parks are left out of every count.
Source and date appear beside each figure. Banks report balances, not loans made. Loans made come only from HMDA and SBA files. We do not audit filings and can make errors joining them. Report a problem
Figures come from public records and show the source and date beside them. Public records can be late, incomplete or wrong. A past loan does not mean a lender will make the same kind of loan today. Confirm anything important with the lender.