Hard Money question (I dont want to get ripped off)

[Andrew Nesbitt]

I've read on here a bit, but I would like to know what is a standard rate for a newbie getting a HML. From looking on the internet I see tons of advertisements saying 8-12%, 2 to 5 points, 6 months to 7 years. But when I come onto BP I see some of you talking about hard money lenders requiring a down payment. I dont really have a problem with that, but I would really like to know what to expect. Is it normally 5%? 10%? (advertisements on the internet never state there is a downpayment, but i figure most of you know what you are doing) and I dont want some lender to tell me 10 or 20% is normal when its not.