Example of the actual cost of using a hard money lender

[Daniela Reyes]

Hi everyone, 

I wanted to get an actual idea of what it cost to use a hard money lender. 

Ive looked through previous post but does anyone have an example with numbers? from their own experience. 

Im confused about whether the monthly payment is just paying off interest? and then the actual loan amount is paid in the end of the term?

I don't have a property in mind but want to get an idea of what it will cost me before even looking at properties. 

thank you in advanced to anyone who can give me some clarity on this topic.