Hard Money Rates in Today's Market

[Bailey Coleman]

What are rates looking like for a typically hard money loan today? 10-15% ????   How many points are they usually charging too? When I underwrite properties I have been assuming they are charging 15% for the hard money loan. So I use that number in my calculations 

[Owen Dashner]

Rates can vary widely. 100% of purchase, 0 points, and 19% interest is normal in my area.  2 points and 13% is normal in surrounding areas in the midwest.  You have to look at what your blended rate is when adding in the points. You might be better off paying a higher rate with less points on a really short holding time, and vice versa.