Metro area · MI
Lenders in Grand Rapids, MI
43 lenders made 143 multifamily loans in the Grand Rapids-Wyoming-Kentwood, MI metro area in 2024 and 2025, $755.2M in all. United Bank of Michigan made the most, with 16. The typical loan was about $1.5M.
- Evidence
- Multifamily loans placed in the metro area, HMDA
- Data as of
- HMDA 2025
- Page last changed
- November 11, 2026
- Lenders on record
- 43
- HMDA,
- Multifamily loans, 2024-25
- 143
- HMDA,
- Manufactured-home parks excluded
- Dollars
- $755M
- HMDA,
- Typical loan
- $1.5M
- HMDA,
Cite this
Source: The Lender Report, Lenders in Grand Rapids, MI, https://lender.report/lenders-in/grand-rapids-mi/, data as of December 31, 2025.
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This page lists who has made multifamily loans here. Loan Comps shows who has made a loan like yours, with the loans to prove it.
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| Lender | Kind | Based in | Loans | Dollars | 2025 loans | 2024 loans |
|---|---|---|---|---|---|---|
| United Bank of Michigan multifamily record | Bank | Grand Rapids, MI | 16 | $23.2M | 8 | 8 |
| Lake Michigan Credit Union multifamily record | Credit union | Grand Rapids, MI | 14 | $86.2M | 12 | 2 |
| West Michigan Community Bank multifamily record | Bank | Hudsonville, MI | 14 | $51.7M | 6 | 8 |
| Horizon Bank multifamily record | Bank | Michigan City, IN | 9 | $13.3M | 4 | 5 |
| Old National Bank multifamily record | Bank | Evansville, IN | 8 | $3.04M | 7 | 1 |
| Walker & Dunlop, LLC multifamily record | Non-bank | Bethesda, MD | 7 | $95.5M | 3 | 4 |
| ChoiceOne Bank multifamily record | Bank | Sparta, MI | 7 | $12.2M | 1 | 6 |
| Lument Real Estate Capital multifamily record | Non-bank | Columbus, OH | 5 | $35.6M | 1 | 4 |
| Merchants Bank of Indiana multifamily record | Bank | Carmel, IN | 4 | $83.1M | 2 | 2 |
| Bellwether Enterprise Real Estate Capital, LLC multifamily record | Non-bank | Cleveland, OH | 4 | $50.0M | 3 | 1 |
| Mercantile Bank multifamily record | Bank | Grand Rapids, MI | 4 | $20.9M | 3 | 1 |
| Michigan State University Credit Union multifamily record | Credit union | East Lansing, MI | 4 | $5.54M | 1 | 3 |
| Merchants Capital Corp. multifamily record | Non-bank | Carmel, IN | 3 | $71.6M | 3 | 0 |
| Macatawa Bank, National Association multifamily record | Bank | Holland, MI | 3 | $11.3M | 1 | 2 |
| First National Bank of America multifamily record | Bank | East Lansing, MI | 3 | $1.98M | 2 | 1 |
| County | Loans | Dollars | Lenders |
|---|---|---|---|
| Kent County, MI | 81 | $469M | 34 |
| Ottawa County, MI | 41 | $257M | 16 |
| Montcalm County, MI | 7 | $8.96M | 6 |
| Ionia County, MI | 4 | $3.98M | 4 |
| Barry County, MI | 3 | $6.38M | 3 |
A county is listed for a year only when the public file holds 5 or more multifamily loans there that year.
| Loan size | Loans |
|---|---|
| Under $1M | 64 |
| $1M to $2.5M | 24 |
| $2.5M to $5M | 17 |
| $5M to $10M | 16 |
| $10M or more | 22 |
- Lenders made 143 multifamily loans totaling $755.2M in Grand Rapids, MI in 2024 and 2025. HMDA,
- 76 of the loans were made in 2025 and 67 in 2024. HMDA,
- The typical loan in Grand Rapids, MI was about $1.5M, with the middle half between $480K and $5.3M. HMDA,
- 64 of the loans were under $1M, and 38 were $5M or more. HMDA,
- Lenders reported a median rate of 6.50% on 91 loans in Grand Rapids, MI, with the middle half between 6.03% and 7.25%. HMDA,
- The median term was 5 years. HMDA,
- The median loan to value was 68%. HMDA,
- 41% of the loans were refinancings and 52% were purchases. HMDA,
- Banks and savings institutions made 89 of the loans, credit unions 24, and non-banks 30. HMDA,
- The five most active lenders made 42.7% of the loans. HMDA,
- The three most active lenders were United Bank of Michigan with 16, Lake Michigan Credit Union with 14, and West Michigan Community Bank with 14. HMDA,
- 19 of the 43 lenders are based in Michigan. The rest are based elsewhere, most often in Indiana, Ohio and Illinois. HMDA,
- The most common property size was 5 to 24 units, with 79 loans. HMDA,
- 5 counties in the metro area have loans on record, and Kent County, MI has the most, with 81. HMDA,
How this list is defined
- Measure
- Multifamily loans made in the Grand Rapids, MI metro area
- Period
- 2024 and 2025
- Formula
- Count, by lender, of HMDA records for multifamily dwellings of 5 or more units placed in the metro area, manufactured-home parks excluded, for each year in which the public file holds 5 or more such loans there.
- Order
- Largest first by loans recorded in the place, then dollars, then name. Payment is not part of the order.
- As of
- 2025
- Source
- HMDA
- Changelog
- : First published, with the data built on this date.
What we don't know
- Whether any of these lenders is taking new loans today.
- What they charge or require beyond the rate and term that HMDA reports.
- Loans on office, retail, industrial or hotel property. HMDA covers dwelling-secured loans only.
A metro area or county is named for a year only when the public file holds 5 or more multifamily loans there that year, so a small place is never exposed by a count.
HMDA covers dwelling-secured loans. Amounts are the midpoints of $10,000 bands, and each loan has a year, never a date.
Lenders that merged or stopped filing are left out.
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.