What are current hard money terms?

5 Replies

I am curious to know what hard many terms are in place in markets nationwide.

Please include: Credit scores, LTV, rates, comps, demos, etc., if possible.

Thank you,

Brandon J.

MODERATOR - No mentions of specific lenders or offers of loans in this thread, please.  That has to go into the Marketplace.

Can't speak for everyone in my area but average numbers look like 65% LTV, 5 points, 12% interest, non owner occupied, 12 month term. Credit will depend on lender.

@Brandon Jenkins Yesterday I was quoted by [REMOVED] a 10% with 2.25 points.

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There is no absolute answer here.  Just like conventional lending, hard money lenders have specific requirements that vary depending on the lender.

For our HML here in Connecticut we pay 12% for a 12-month term, 20% down, 3 points.

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