What are the costs of a Hard Money loan?

[Hemanth Grandhige]

Newbie Question! I'm getting ready to do my first flip and am evaluating my financing options. Can somebody lay out for me (or point me to another post or article) all the costs of a Hard Money loan? Like, if the interest rate is 10% is that an APR or is it compounded more frequently? If the loan term is 6 months but I wrap up in 5 months do I still owe 6 months of interest? Is there a prepayment penalty? Are points negotiable? What other "closing costs" can I expect? Title insurance? Appraisals?

I'm sure there are things that I don't even know I should be asking.  

I appreciate the help.

Hemanth