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Choon Yee Dee
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24
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Hard Money Loan for Fix and Flip

Choon Yee Dee
Posted

Hello everyone!

I have a quick clarification question regarding hard money loans for fix and flips. If for example, for a 12 months hard money loan, if I fix and flip a home in 6 months, am I only paying for 6 months of interest? Or am I paying for 12 months of interest?

This is given that there is no prepayment penalty.


Thanks in advance!

  • Choon Yee Dee
  • Most Popular Reply

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    22
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    Bryan Martinez
    • Lender
    • Austin, TX
    6
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    Bryan Martinez
    • Lender
    • Austin, TX
    Replied

    Chis Had a good point, some have a minimum  3-6 month interest charge. Always good to ask your lender. Always ask questions, lots of them. I invest myself and I lend. So I know both sides. Always happy to help or point you in the right  direction if you ever want to chat. 

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    IMS Funding
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