Griffin Funding for Illinois investors
Griffin Funding is a direct hard money and DSCR lender founded in 2013, licensed in 47 states. It lends up to $4.5M in-house with exceptions considered to $20M, and offers a no-ratio DSCR program. Published DSCR rates run 6.1%–7.5%, with a 620 minimum credit score and 0.75 minimum DSCR.
Illinois context
Illinois property tax burden second-highest in nation. Chicago south/west neighborhoods produce strong DSCR cash flow with Section 8 vouchers. Cook County investor-class tax assessment.
How Griffin Funding positions in Illinois
Illinois is well covered by national DSCR lenders, with Griffin Funding as one option. Where Griffin Funding differentiates: In-house lending up to $4.5M, with exceptions considered to $20M. Where it competes: rates 6.1 to 7.5 percent against peer programs.
City-level coverage in Illinois
Griffin Funding provides DSCR coverage across Illinois metros including Chicago, Springfield, and Peoria. Within each metro, submarket variation drives deal-specific underwriting more than lender selection. Griffin Funding program terms apply uniformly across Illinois metros; the specific deal characteristics determine final pricing.
Terms and pricing
| Loan type | DSCR non-QM institutional |
|---|---|
| Products | rental DSCR |
| Loan size | — - $5.0M |
| Rates | 6.1%-7.5% |
| Points | Not publicly published |
| Max LTV | 80% of ARV |
| Term lengths | Not publicly published |
| Typical close time | Not publicly published |
| Illinois property tax | 2.3% |
| Illinois state income tax | 4.95% |
Griffin Funding strengths in Illinois
- In-house lending up to $4.5M, with exceptions considered to $20M
- No-ratio DSCR program available
- Licensed in 47 states
- Direct lender
Ideal borrower: Investor seeking a direct DSCR lender with high in-house loan limits and a no-ratio program for below-market-DSCR properties.
FAQ
Yes, operates nationally including Illinois. Griffin Funding is based in an undisclosed location and operates nationally.
Chicago is the top investor market in Illinois and falls within Griffin Funding national coverage. Chicago property tax follows the Illinois state rate of 2.3 percent. Griffin Funding typically underwrites Chicago acquisitions at standard rate sheets.
Yes. Springfield ranks among the larger Illinois investor metros and sees consistent DSCR loan volume from Griffin Funding. Submarket variation within Springfield matters for property selection.
Griffin Funding applies the same rate sheet across Illinois metros. Pricing variation comes from property-specific factors rather than metro location within the same state. Chicago, Springfield, and Peoria all qualify for the same Griffin Funding program.
Griffin Funding indicative DSCR rate range is 6.1 to 7.5 percent.
Illinois property tax burden second-highest in nation. Chicago south/west neighborhoods produce strong DSCR cash flow with Section 8 vouchers. Cook County investor-class tax assessment. Griffin Funding follows standard business-purpose loan structures.
Griffin Funding funds rental DSCR in Illinois.
Illinois allows standard DSCR prepay structures; Griffin Funding typically uses 3-5 year step down.
Griffin Funding typical close: Not publicly published.
Bottom line
Illinois investors considering Griffin Funding should verify current rate sheets directly and confirm specific submarket coverage.
Independent directory listing. DSCR Loan Program is not affiliated with Griffin Funding.