hard money loan

[Santana Urias]

my question is, if I ask for a 100k hard money loan and the agreement is 6 months, hypothetically let's say my flip takes 2 months, how much would my monthly payment be?

[Dee M.]

It would depend on how it's structured, but a vague estimate would be approximately 1,166.00 per month(at 14% APR) and whatever points the lender would charge either on the front end or at the time you close after rehab. Keep in mind a 2 month rehab and sale is very optimistic, by the time you rehab it, list it, close it and fund, two months in my option would be unrealistic. Good luck with it, I hope it works out for you!