Frequently Asked Questions

A hard money loan is a short-term, asset-based loan secured by real estate. Unlike traditional bank loans that focus heavily on credit scores and income verification, hard money lenders primarily evaluate the property's value and your exit strategy. This makes them ideal for real estate investors who need fast funding for time-sensitive deals.

Hard money loans differ from traditional mortgages in several key ways: 1) Approval based on property value rather than credit history, 2) Much faster closing (3-5 days vs 30-45 days), 3) Short-term duration (6-36 months vs 15-30 years), 4) Higher interest rates but more flexible terms, 5) Less documentation required.

We finance single-family homes, condos, townhouses, multi-family properties (2-4 units), mixed-use buildings, retail centers, office buildings, industrial properties, and raw land. Both residential and commercial properties are eligible. We can also finance properties that need significant renovation.

Grand Funding provides hard money loans throughout Arizona and California. Major markets include Phoenix, Scottsdale, Tucson, Mesa, San Diego, Los Angeles, Orange County, San Francisco Bay Area, and surrounding communities.

We provide loan decisions within 24 hours of receiving a complete application. Once approved, most loans close and fund within 3-5 business days. For exceptionally straightforward deals, we've closed in as little as 48 hours.

Basic requirements include: property address and details, purchase contract or property ownership documentation, project budget (for renovations), proof of funds for down payment, and photo ID. We may request additional documentation depending on the loan type and project complexity.

Credit is considered but not the primary factor. We focus more on the property value, your equity position, and your exit strategy. Borrowers with credit scores as low as 550 may qualify depending on the deal structure and down payment. Even bankruptcies and foreclosures won't automatically disqualify you.

Yes! Unlike traditional lenders who require W-2s and tax returns, we focus on the property and your down payment. Self-employed individuals, gig workers, and those with non-traditional income sources are all welcome to apply.

Absolutely. We regularly work with borrowers who hold properties in LLCs, trusts, or other entities. This is common among experienced real estate investors for asset protection and tax purposes.

Interest rates typically range from 9.5% to 14% depending on factors like loan-to-value ratio, borrower experience, property type, and loan duration. Rates are competitive and transparent - we'll provide clear terms before you commit.

LTV ratios vary by loan type: Fix & Flip loans up to 90% ARV (After Repair Value), Bridge Loans up to 75% LTV, Construction Loans up to 80% of project cost, Land Loans up to 65% LTV, Cash-Out Refinance up to 75% LTV. Higher LTV may be available for experienced borrowers.

We offer loans from $70,000 to $5 million. For larger projects exceeding $5 million, please contact us directly as we may be able to accommodate through specialized programs or partnerships.

Most of our loan products have no prepayment penalty, allowing you to pay off the loan early without additional fees. Some specialized programs may have minimal prepayment terms - we'll clearly disclose any such terms before closing.

Standard fees include origination points (2-5% of loan amount), appraisal fee ($400-$800), title insurance, escrow fees, and document preparation. We provide a complete fee breakdown in your loan estimate - no hidden surprises.

Typical loan terms range from 6 to 36 months depending on the project type. Fix & flip loans are usually 6-18 months, bridge loans 6-12 months, and construction loans 12-24 months. Extensions may be available for a fee.

A fix and flip loan provides funding to purchase and renovate a property for resale. We can finance up to 90% of the After Repair Value (ARV), covering both acquisition and renovation costs. Funds are released in draws as renovation milestones are completed.

Construction loans release funds in stages based on project milestones. Typical draw schedule: 1) Foundation (25%), 2) Framing/Rough-In (25%), 3) Drywall/Interior (25%), 4) Final/Completion (25%). Our team inspects each milestone before releasing funds to ensure work is completed properly.

Yes, we provide land loans for raw land acquisition. Typical LTV is up to 65% for residential land and 50-60% for commercial land. We look at factors like zoning, development potential, location, and your development timeline.

DSCR (Debt Service Coverage Ratio) loans qualify borrowers based on the rental income the property generates, not the borrower's personal income. If the property's rental income covers the mortgage payment (typically 1.2x or more), you can qualify without tax returns or W-2s.

Yes, we offer owner-occupied loans for primary residences, typically through our cash-out refinance program. This is useful if you need to access equity quickly or can't qualify for traditional financing due to credit or income issues.

Your exit strategy is your plan to repay the loan - typically through sale, refinance into permanent financing, or rental income. A clear, realistic exit strategy is crucial for approval because it shows us how you'll successfully complete the project and repay the loan.

We understand construction timelines can shift. Most loans include one extension option for a fee (typically 1-2 points). If you need more time, contact us before the maturity date to discuss options. Communication is key!

For renovation and construction loans, yes - we need a detailed scope of work and budget from a licensed contractor. This helps us determine the accurate project cost and After Repair Value (ARV). The contractor doesn't need to be pre-selected, but estimates must be reasonable and market-appropriate.

Absolutely! You're free to use your own contractors or general contractors. We just require that they're properly licensed and insured. For large projects, we may request contractor references or examples of previous work.

Logan Sullivan is the licensed mortgage professional (NMLS #2466872) behind Grand Funding LLC. With over 40 years of combined experience in lending, construction, and real estate development, Logan brings hands-on expertise that most lenders lack. His background as a former builder means he understands project timelines, budgets, and potential issues that can arise during construction.

Grand Funding is a direct private lender - we fund loans with our own capital. This means faster decisions, more flexibility, and direct communication throughout your loan. You're not being passed off to third-party investors or waiting for committee approvals.

Grand Funding LLC has been providing hard money loans for over 40 years, with extensive experience in real estate lending, construction, and property development throughout Arizona and California. We've funded over 1,500 loans totaling more than $350 million.

Three key differences: 1) Real construction experience - we're former builders who understand projects from the ground up, 2) Direct lending - decisions made in-house with no waiting for third-party approval, 3) Relationship-focused - we want repeat clients, not one-time transactions. We're invested in your success.