Hard money lender advice

[Kionnon Harris]

Hi, I'm a new investor and I have been looking into hard money lenders for my first flip. I spoke with a company and they stated that for first time borrowers they would require a down payment of $10- $20 thousand dollars and that the payments are interest only with no Pre payment penalties. My only question is they said that the points and fees are charged on the back end. Is that normal or should be a little cautious. I've done some research on hard money lenders but this is the first time I've seen this be said. I haven't decided on a house yet I'm just trying to do my due diligence before jumping in head first. 

Thank you, 

Kionnon