Hard Money Quesrion

[Sachin Bhat]

So if you have an option to purchase a property to buy and hold with a hard money and you have two option which one would you chose? Options being as follow

First lender charges 3 points and possibly 8% rate

Second lender charges 2 points and 9 % charge

Plan is to refinance after 6 months and pay off the hard money loan.

Second question

I also have a lender who offered a line of credit but they charge 15% up front and 7% variable rate. I have access to the funds for 5 years. I reuse the funds many times as I want. Is this a good deal to get if I want to use the money to do some flips.

Thanks for any input.