Private Lender only wants 5% interest?? Is this common?

[Nova T.]

Hi everyone,

I’m currently raising private funding for real estate and I came across a lender who only charges 5% interest. Here are his other loan terms:

100% financing on purchase price and rehab

Interest rate 5%

Funding frame 10 business days

No pre payment penalty

Max loan duration 10 years

Amortization repayment available

Interest only payment available.

Has anyone ever found a money partner that only charges 5% interest?? I want to make sure I’m not being scammed since I’m aware that there are alot of funding scammers out there. Thanks in advance!