I got my first hard money loan approval for 47,000. It's a Rental property with a 24 month term loan and no prepayment penalties. i only need the money for 2 month. Waiting on Heloc to process. Does the fees seem reasonable.
Company Consulting Fee
Loan Servicing Fee
Misc. Fee (GS Cert)
Daily Interest 5/30/2019 to 5/30/2019
For hard money that seems reasonable. It looks like origination is just over 3 points. In theory you might be able to get lower points, but at that loan amount most lenders who would only normally charge only 2 points etc. may have some sort of minimum for origination fee when loans are that small, so likely you would not save anything.
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