Mortgage lead for Residential loan in Grand Rapids, MI, 49525

Date Posted

4/30/2026 6:38:35 AM

Property at

Grand Rapids, MI, 49525, USA Show Map

Borrower at

Property Type

Residential

Property Value

$220,000

Loan Request

$154,000

LTV

70 %

Credit Rating

720-739

Net Worth

$150,000 - $250,000

Loan Purpose

Purchase Fix N' Flip

Purpose

I am seeking a short-term hard money loan to fund the completion of a residential renovation project and pay off an existing mortgage.
The property was transferred to me through a family gift and currently has an outstanding mortgage balance of approximately $52,000. I began a full interior renovation and have already completed a significant portion of the demolition and initial work; however, the property is currently in gutted condition and not eligible for traditional financing at this stage.
The remaining scope of work is estimated at $80,000 and includes completing all interior finishes, mechanical systems, and making the home fully livable and market-ready.
The after-repair value (ARV) of the property is estimated at approximately $275,000 based on comparable homes in the area. I am requesting a total loan of approximately $132,000 to cover both the mortgage payoff and the remaining construction costs.
My exit strategy is to complete the renovation within a short timeframe and then refinance into a conventional long-term mortgage based on the improved value of the property.

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Loan Request for Residential loan in Grand Rapids, MI, 49525