Hard Money Loan for Fix and Flip

[Choon Yee Dee]

Hello everyone!

I have a quick clarification question regarding hard money loans for fix and flips. If for example, for a 12 months hard money loan, if I fix and flip a home in 6 months, am I only paying for 6 months of interest? Or am I paying for 12 months of interest?

This is given that there is no prepayment penalty.

Thanks in advance!

[Bryan Martinez]

Chis Had a good point, some have a minimum  3-6 month interest charge. Always good to ask your lender. Always ask questions, lots of them. I invest myself and I lend. So I know both sides. Always happy to help or point you in the right  direction if you ever want to chat.