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Updated over 8 years ago on . Most recent reply

Silvia DeLeon's profile image
Silvia DeLeon's profile image
Silvia DeLeon
  • from Trenton, New Jersey
  • Member since Oct 5, 2016
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Silvia DeLeon's profile image
Silvia DeLeon's profile image
Silvia DeLeon
  • from Trenton, New Jersey
  • Member since Oct 5, 2016
Connect
Silvia DeLeon
  • Trenton, NJ
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Private Lending & Conventional Mortgage Advice

Hard Money Lender Interest Rate Terms

Silvia DeLeon
  • Trenton, NJ
Posted

Hello, 

Just met a hard money lender and his terms are 1.67% per month and 4 points.  To find out the annual percent I multiply the 1.67 x 12, correct?  So if I'm right, that would be 20%??!! Yikes. 

Thanks, 

Silvia

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