Hard Money Lending - Points vs. Interest

[Lisa Eckman]

From this and other threads, it seems that HML often (always??) charges points in addition to the interest rate being charged. And I know in one other situation that when the borrower needed to extend the loan, they had to pay points again. I'm just wondering what the norm is in terms of Points vs. Interest.

As a Hard Money Lender...

Do you know of HMLs without points?  Or are points ALWAYS charged?  What's the minimum?

Would you consider making a loan without points?

Would you agree that if it is HML, then it is a short term loan - generally no greater than a year?

And if its a short term loan, then points are probably more important than the interest rate ($ upfront rather than over time).  As an example:  0 points and 25% interest vs. 3 points and 10% interest.  I know it varies, but what is the norm?  And where is the tipping point between points vs. interest (which is better)?

Do you usually write into the contract terms to extend, and if so, are there usually points AGAIN?

Do HMLs normally require payments monthly or just a lump sum of Principal and Interest at the end of the term?

Do HMLs allow early payoff and is the interest calculated to the payoff date or an amount stipulated up front (regardless if paid off early)?

Any insight or experience you can relay is appreciated. I know that it's "all negotiable", and there are no "rules".  But I'm looking to learn what the norm is in most situations.  TIA