How much does hard money cost?

[Account Closed]

I'm looking at using hard money for a rehab flip in Oklahoma City. What kind of interest rate, discount points, and other processing fees should I expect to pay? Thanks for any hard money or rehab advice!

[Brent Smith]

If you're not paying interest or points then you're giving away equity. Equity is the last thing I want to give up. Sometimes you have to do it to get the deal done, but like i said its the LAST thing I want to do.

[Vincent Pace]

@Account Closed not only does it depend on the lender, but it also depends on your experience. Some lenders let you customize your rates with a varying combination of points and interest rates to create a loan that best suits you!

[Mark Waldrip]

This may seem like a silly question, but do most people roll the points into the loan amount and end up paying interest on the combined balance or is it a down payment made at the time of the loan? I've got some opportunities to do some HML but haven't been charging points, just a reasonable interest rate with a flexible repayment. I have asked for "skin in the game" in the way of asking them to fund a % of the rehabs out of their pocket. Thanks!