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Updated over 9 years ago on . Most recent reply

Account Closed's profile image
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Account Closed
  • Investor
  • from East Meadow, New York
  • Member since Jul 18, 2015
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Account Closed's profile image
Account Closed's profile image
Account Closed
  • Investor
  • from East Meadow, New York
  • Member since Jul 18, 2015
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Account Closed
  • Investor
  • East Meadow, NY
0
Votes |
13
Posts
Private Lending & Conventional Mortgage Advice

hard money loan 12% interest

Account Closed
  • Investor
  • East Meadow, NY
Posted

hello BP,

 on a hard money loan, if the interest is 12%, is that monthly or loan life?  I'm a newbie so I apologize now but this would help me a lot.   ex. on 100k, can it really be 12k a month?  or 12k for the overall loan?  can anyone clarify this quickly?  Thanks guys!

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Chris Z.'s profile image
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Chris Z.
  • Real Estate Investor
  • from Boston, MA
  • Member since Feb 25, 2014
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32
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10
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Chris Z.'s profile image
Chris Z.'s profile image
Chris Z.
  • Real Estate Investor
  • from Boston, MA
  • Member since Feb 25, 2014
Connect
Chris Z.
  • Real Estate Investor
  • Boston, MA
10
Votes |
32
Posts
Chris Z.
  • Real Estate Investor
  • Boston, MA
Replied

12% per year, so $12k per year or $1k per month

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