Hard money lenders SCARY?

[Valerie Smith]

☀️I’ve seen a couple posts about people being approved for hard money, then the lender backs out or changes terms etc. I’ve also been warned that some hard money lenders can be a scam. I invest in Florida and Georgia and would like to know which you recommend. Called Lending One and because we’ve never used hard money they said we’d have to do 15% down plus 2 1/2 points, Interest (starts at) 11.5% plus some other fees. These were quotes without pulling credit or filling any paperwork out. Anyone used them or think these are good rates for a 1st time user? I kind of thought one of the points of using a hard lender is so you don’t have to put so much down.