Hard-Money Terms...good? bad? average?

[Tyler Flagg]

Hey everyone,

I'm currently researching hard-money lenders in my area and want to get a good idea of different terms before I embark on my first flip. Below are the terms from a company that lists it on their website.

• LTV: Up to 70%
• Repair Draws: 70%
• Loan Term: 6 months
• Annual Interest Rate: 14.5%
• Points: 4
• Property Analysis Fee: $300
• Repair Draw Fee: $150
• 6 mos. Interest Pre-Paid: YES
• 6 mos. Insurance Pre-Paid: YES

Before I continue shopping around for lenders, I wanted to get a general idea from the community as to whether or not these are good, bad, or average terms. 

I haven't found a property yet...so I cant provide any supporting information. Just hoping that this exercise will help to fine-tune my hard money barometer.

Thanks for the help!