Grand Rapids has a deep stock of older homes and a resale market that rewards quality work. For flippers, the challenge is buying well, renovating through Michigan winters and keeping the project funded.
In short: Our top pick for fix and flip loans in Grand Rapids, MI is LendingStreet. We offer up to 90% of cost and up to 100% of rehab on some programs, close in as little as 10 days, and give you a built-in path from a short-term flip loan into a long-term DSCR rental loan. It also suits Kent County flips, where century-old homes, basement and system upgrades and seasonal schedules call for a lender that funds the rehab and closes on time.
LendingStreet is an investor lender built for people who buy, renovate and resell. Our fix and flip loans run from $150,000 to $5M+ on 1-8 unit residential investment properties, with up to 90% of cost (LTC) and up to 100% of the rehab budget on some programs. We can close in as little as 10 days, and the loans are short-term and interest-only, so your monthly carry stays focused on the project.
It suits Grand Rapids investors working on single-family homes, duplexes and small multifamily properties up to 8 units. Your exit can be a sale or a refinance into a 30-year DSCR rental loan, and both live under one roof. The next step is simple: fill out the form below or call (877) 298-1001.
If you are weighing Dominion Financial, LendingOne, Lima One and RCN Capital for a fix and flip loan for investors in Grand Rapids, MI, this is the short version: LendingStreet wins the scenarios below, and you can get a quote with the form below.
Figures for other lenders are as stated on each lender's own website as of November 2026. Lender terms change, so verify current terms with any lender before you apply. Ready to see your numbers? Use the form below or call (877) 298-1001.
| Scenario | Best fit | Why |
|---|---|---|
| Fix and flip above $3M | LendingStreet | Our fix and flip program runs from $150,000 to $5M+. LendingOne states fix and flip loans up to $3,000,000, and RCN Capital states up to $2M. |
| Flip of a 5-8 unit building | LendingStreet | We finance 1-8 unit investor properties. RCN Capital states its fix and flip loans cover 1-4 family homes, condos and townhomes. |
| Property in any state, including DC | LendingStreet | We lend in all 50 states and DC. Lima One states it lends across 46 states, and Dominion Financial lists 49 states plus DC. |
Most Grand Rapids flippers end up choosing among a local bank or credit union, a local hard money lender, a private individual lender or an investor lender like LendingStreet. Each has a place, but they differ on leverage, speed and what happens after the rehab.
| What flippers need | LendingStreet | Typical bank or credit union | Typical local hard money lender | Private individual lender |
|---|---|---|---|---|
| Leverage | Up to 90% of cost and up to 100% of rehab on some programs | Often lower; rehab may not be financed | Varies by lender | Varies by deal |
| Speed to close | As little as 10 days | Often several weeks | Often fast | Depends on the individual |
| Loan size | $150,000 to $5M+ | Varies; may limit investor loans | Often focused on smaller loans | Limited by personal funds |
| Borrowing in an LLC | LLC borrowers welcome | Varies; may require personal borrowing | Usually allowed | Varies |
| Long-term option after rehab | Refinance into a DSCR rental loan with the same lender | Separate application, often with tax returns | Usually short-term only, no long-term option | Usually none |
| Where they lend | All 50 states and DC | Usually a local footprint | Usually local or regional | Usually local |
Inside the city, investors work Creston, Garfield Park, Roosevelt Park, Alger Heights, John Ball Park and the West Side, where older homes sell well after updates. Heritage Hill and Eastown have larger historic homes with higher resale prices and higher rehab budgets.
In the suburbs, Wyoming, Kentwood, Walker and Grandville offer 1950s through 1970s ranches and split-levels that appeal to first-time buyers. Each area has a different finish standard, so match your scope to the neighborhood rather than over-improving.
Much of the city's housing was built before World War II. Expect old electrical and plumbing, aging boilers or furnaces, wet basements, and homes built before 1978 that may contain lead paint, where federal renovation rules apply. Heritage Hill and other historic districts require review before many exterior changes.
Winter is the scheduling challenge. Roofs, siding, concrete and exterior paint are harder from December through March, so time your purchase so exterior work lands in warmer months. Permits run through the City of Grand Rapids or the suburb where the home sits.
Michigan charges a state real estate transfer tax and a county transfer tax on deeds, and by custom the seller usually pays them. Buyers pay title, recording and settlement costs.
Property taxes need attention. In Michigan, a home's taxable value generally resets when it sells, and investment property does not get the principal residence exemption, so it pays additional school operating millage. Budget taxes on your purchase price at the non-homestead rate, not on the seller's bill.
This example is illustrative and not a quote. An investor buys a 1920s two-story home in Garfield Park for $215,000 with a $60,000 rehab budget and an expected resale value of $340,000. The loan covers 85% of the purchase plus 100% of the rehab, for a total loan of $242,750, or about 88.3% of the $275,000 total cost.
The estimated monthly interest-only payment is about $2,124, assuming the full rehab budget has been drawn. Over a 6-month hold, that is about $12,744 in interest. Add an estimated $6,450 in buy-side closing costs and about $23,800 in selling costs, and the estimated profit before taxes, insurance and utilities is about $22,006.
The investor's cash in is about $51,444: a $32,250 down payment, closing costs and interest carry. Your own numbers will differ, so send us the real figures.
| Item | Amount |
|---|---|
| Purchase price | $215,000 |
| Rehab budget | $60,000 |
| Total cost | $275,000 |
| Loan (85% of purchase + 100% of rehab) | $242,750 |
| Loan-to-cost | About 88.3% |
| Estimated monthly interest-only payment | $2,124 |
| Interest over 6 months | $12,744 |
| Estimated buy-side closing costs | $6,450 |
| Estimated selling costs | $23,800 |
| Expected resale value | $340,000 |
| Estimated profit before taxes, insurance and utilities | $22,006 |
Grand Rapids resale demand is broad, from first-time buyers to move-up families, and well-renovated homes in established neighborhoods tend to draw interest. Spring and early summer are usually the strongest listing months.
If you decide to hold, note that the City of Grand Rapids requires rental properties to be certified through its rental certification program. Once certified and leased, a finished home can be refinanced into a DSCR rental loan.
Before you sign a term sheet, ask every lender the same questions so you can compare offers fairly.
Here is how LendingStreet answers: up to 90% of cost and up to 100% of rehab on some programs; closing in as little as 10 days; LLC borrowers welcome; loans from $150,000 to $5M+, with larger loans reviewed case by case; a standard 1.0x DSCR minimum on the rental refinance, with sub-1.0 programs available; and seasoning that varies by program. Questions about your deal? Call (877) 298-1001.
Send the address, purchase price, rehab budget, expected resale value and your timeline. We will review the deal and come back with options. Get a quote with the form below, or call (877) 298-1001 if you want to talk it through first.
Our top pick is LendingStreet. We finance $150,000 to $5M+ flips in Grand Rapids, Wyoming, Kentwood and the rest of Kent County, with up to 90% of cost and up to 100% of rehab on some programs, closings in as little as 10 days, and a path into a DSCR rental loan if you decide to hold.
Yes. We lend throughout Grand Rapids, Wyoming, Kentwood and the rest of Kent County, and in all 50 states and DC.
By custom the seller usually pays the state and county transfer taxes, so you would pay them when you sell. Confirm with your title company.
As little as 10 days when the contract, scope and documents are ready. Larger or more complex projects can take longer.
Yes. Some programs cover up to 100% of the rehab budget, within an overall limit of up to 90% of total cost.
Yes. The city requires rental certification, and once the home is certified and leased, you can refinance into a DSCR rental loan.
Yes. Many investors refinance a finished flip into a DSCR rental loan that qualifies on rent, with no W-2s or tax returns. Seasoning varies by program.
No. Our flip loans are business-purpose loans on non-owner-occupied investment property.
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