What is the highest interest rate you have seen?

[Chris Seveney]

Was curious to see what the highest interest rate you have seen (or paid) on a secured note?

I have seen 20-30% on 2nd liens in the past, not uncommon - especially if its a wonky type of deal (not your standard single family but land, development deal etc).

I have started seeing some who have 30-50% 2nds from HML on single families.

For firsts I have seen one company recently doing 30%+ on first position liens. Highest we have done was 15%.  

Whats the highest you have seen? With those high rates, I am curious on outcomes.

[Tracy Z. Rewey]

@Chris Seveney This reminded me of a line in a John Mayer song: 

"When I really start to break it down,

I wouldn′t trust a girl who knew about this place."

Even if usury wasn't an issue, I think the note version would be:

"When I really start to break it down,

I wouldn′t trust a payor who agreed to that high of a rate."