Typical Hard Money Loan Terms

[Nathaniel Wayman]

I have what seems to be a good deal that I hope to put under contract today. With that I am hoping to get a hard money loan to assist me in executing the acquisition and rehab. My question is what are typical terms for hard money lenders. I want to make sure I am not being  taken advantage of because of my lack of experience. 

- Do they require a down payment?

- What is a fair amount of points?

- What is a typical HM rate?

- Are the payments Interest Only?

Thank you in advance!