Construction Loans in Grand Rapids, MI
Find lenders offering construction loans in the Grand Rapids, including Wyoming, Kentwood, Holland, and surrounding areas. Compare rates, terms, and programs from 13 lenders.
Construction Lenders Serving Grand Rapids
13 lenders offering construction loans in the Grand Rapids, MI area.
Bank of America
Charlotte, NC
One of the largest US banks. Commercial real estate lending, construction financing, and SBA loans through nationwide branch network.
Broadmark Realty Capital
Seattle, WA
Private real estate lender offering bridge, construction, and land loans. Now part of Ready Capital. Loans from $500K to $25M+.
CoreVest Finance
Irvine, CA
Rental portfolio and bridge lender for residential real estate investors. Build-to-rent and portfolio financing specialist. Redwood Trust subsidiary.
JPMorgan Chase
New York, NY
Major CMBS originator and commercial lender. Full range of CRE financing including conduit, agency, and balance sheet.
KeyBank Real Estate Capital
Cleveland, OH
Major bank CRE lender. Balance sheet, agency, and CMBS lending for multifamily, office, retail, and industrial properties.
Lima One Capital
Greenville, SC
Private lender for real estate investors. DSCR loans require 1.5+ ratio, min FICO 700. 5, 10, and 30-year options. Up to 75% LTV on purchases.
Merchants Capital
Indianapolis, IN
Bank-backed commercial lender active in 47 states. Over $6.8B in financing. Specializes in multifamily, affordable housing, and healthcare.
New Silver Lending
FL
Direct lender for real estate investors. DSCR loans with no minimum DSCR requirement. Also offers fix-and-flip, bridge, and construction loans.
PNC Real Estate
Pittsburgh, PA
Top-10 US bank with dedicated commercial real estate lending. Construction, bridge, and permanent financing for major property types.
Stbridge Capital
Los Angeles, CA
Private money lender in California. Bridge, fix-and-flip, and ground-up construction loans. Fast closings for experienced investors.
US Bank
Minneapolis, MN
Fifth-largest US bank. CRE lending including construction, permanent, and SBA loans. Strong in multifamily and affordable housing.
Vaster
Miami, FL
Commercial bridge loan lender for CRE investors. Flexible short-term financing for acquisition, rehab, and construction.
Wells Fargo
San Francisco, CA
Top commercial real estate lender. CMBS, balance sheet, agency, and SBA lending across all property types.
Grand Rapids Commercial Real Estate Market
Grand Rapids is West Michigan's economic capital and one of the fastest-growing mid-size CRE markets in the Midwest, driven by advanced manufacturing, healthcare, and a surging population. The Medical Mile corridor along Michigan Street NE, anchored by Spectrum Health (now Corewell Health) and the Van Andel Institute, has attracted over $2 billion in biomedical development. Downtown's Monroe Center and the Wealthy Street corridor have benefited from adaptive-reuse projects converting former furniture manufacturing buildings into creative office and mixed-use spaces. The city's furniture manufacturing heritage has evolved into a broader advanced manufacturing base, with industrial demand strongest along the 28th Street and I-96 corridors.
Key Economic Drivers
- ●Corewell Health (formerly Spectrum Health) Medical Mile campus and biomedical research investment
- ●Advanced manufacturing including Steelcase, Amway, and automotive supplier operations
- ●Van Andel Institute and Michigan State University College of Human Medicine research facilities
- ●Craft beverage tourism and downtown hospitality anchored by Founders Brewing and the convention center
Market Insight
Grand Rapids' Medical Mile has attracted over $2 billion in life sciences and healthcare investment along a single corridor, creating one of the densest clusters of medical office and research space in the Midwest outside of major metro areas.
Construction Loans in Grand Rapids, Michigan
Commercial construction loans fund new development or major rehabilitation projects. Funds are disbursed in stages as construction progresses. Most are short-term (12-36 months) and convert to permanent financing upon completion. In the Grand Rapids metro area, borrowers can access 13 lenders offering Construction financing, including Wyoming, Kentwood, Holland, and surrounding areas. Loan amounts typically range from $500K to $100M with rates from 7% - 10%.
Who Should Consider Construction Loans?
- Ground-up development
- Major renovations
- Land + construction
- Build-to-suit projects
Key Requirements
- Detailed construction plans and budget
- Licensed general contractor
- Building permits
- Development experience (strongly preferred)
- 20-35% equity
Advantages
- ✓Interest only on drawn funds
- ✓Funds disbursed as needed
- ✓Can include land acquisition
- ✓Construction-to-permanent options available
Considerations
- •Requires detailed plans and budgets
- •Draw schedule inspections
- •Higher rates during construction
- •Completion risk on borrower
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