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» Hard Money Loan Rates

Posted on 10/24/2004
Hard money starts around prime + 7%. As of this writing, the prime rate hovers around 4 3/4%. Points for hard money loans vary depending on the risk involved in the loan. Points can vary from 3-4 to as much double digit figures. Additional fees include the third-party costs of due diligence such as appraisals, inspections, site review and more - rangin from $5,000 - $20,000+ depending on the size of the project.

When seeking a hard money loan, be sure to ask about all the fees involved adn when you should expect to pay for them... and remember, never pay for the privilege of having your loan reviewed by a lender.
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