Hard Money - Rates and Terms
A very frequent question people ask hard money lenders would be ' what are your rates and terms?' The money being borrower is short term so rates will ranges anywhere from 10-18% depending on who you are talking to . The term is usually 6 months- 1 year. The reality of the difference of the annual rate is actually very marginal when looking at one company to the next. There difference between a company at 13% interest per year vs 12% interest per year is .08% per month. It usually is less than $100 per month in difference. The focus should be on the quality of the company the ease of working with them.
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