Are These Fair Terms??- Private Lendor

[Sarah R Pullen]

So I'm a new investor and connected with a private lendor via a REI facebook group in my area. These are the terms of his lending. If you're an experienced investor can you help me determine if these are good terms?

Loan Terms And Conditions
This is to inform you that before you will be qualified in getting a loan from me, you will have to agree with the terms below:

1. Loan Size: 50K - $50Million+
2. Interest Rate: 4% fix
3. Lending Programs: All types of loan.
4. Prepay: No Prepayment Penalty
5. No credit check, Asset Based Lending
6. Closing in 3-5 business days
7. Collateral: All Commercial RE Property Types, including Specialty Uses and Land.
8. Repayment Type: Fixed and balloon instalment available to choose by the borrower.
9. Term: Short & Long-Term program tailored to fit different loan scenario (6 months - 30 years) with 3 month grace period before making first repayment of the loan.
10. Recourse: Recourse and Non-Recourse are available for all borrower's.
11. Loan-to-Value/Loan-to-Cost: Up to 100% of Stabilized Value is available.
12. Borrower are to provide processing fee of the loan amount upfront after pre-qualification prior to Approval which is to be refunded at the closing of the loan.