What is the highest interest rate you have seen?

[Chris Seveney]

Was curious to see what the highest interest rate you have seen (or paid) on a secured note?

I have seen 20-30% on 2nd liens in the past, not uncommon - especially if its a wonky type of deal (not your standard single family but land, development deal etc).

I have started seeing some who have 30-50% 2nds from HML on single families.

For firsts I have seen one company recently doing 30%+ on first position liens. Highest we have done was 15%.  

Whats the highest you have seen? With those high rates, I am curious on outcomes.

[Jay Redding]

What about usury laws for owner occupied homes for firsts?  I have been seeing 12-13% routinely on seller financed owner occupied 1st lien position.  I recently did a short term fix and flip loan investor to investor loan for 6 months @ 5 pts and 15% interest rate.  Default rate being 20%.