Mortgage lead for Residential loan in Grand Rapids, MI, 49507

Date Posted

9/23/2026 1:39:56 PM

Property at

Grand Rapids, MI, 49507, USA Show Map

Borrower at

Property Type

Residential

Property Value

$220,000

Loan Request

$120,000

LTV

54.54 %

Credit Rating

500-549

Loan Purpose

Refinance all

Purpose

refinance free and clear owned property
The client is an older woman that owns both commercial and residential properties free and clear. She has a tenant in the house that she is using for the equity loan of 120k. That property is currently generating 1850 per month and she does have the signed lease agreement. Her credit is low as she suffered from a stroke a couple of years ago and it took her nearly one year to regain health. She has an additional commercial property that she wants to use for a separate loan of 120k to begin renovations. The repayment for the first loan will be via refinance as she does have a paying tenant. The second loan repayment for the commercial property will be repaid via the grant money she's approved for of which the loan will help her fulfill the requirement of the grant in initial renovation start up.

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Loan Request for Residential loan in Grand Rapids, MI, 49507