Quote Originally Posted by CO Hugh View Post
Many charge 4-5% origination for hard money. Sometimes the mortgage broker gets most of it, all depends on the agreement.

Watch out for Frank Dodd. Recently had a case and if it is an owner occupied loan there are a bunch of regulations limiting the interest rate, fees, and mandating specific disclosures.

Traditionally Loan to Value (LTV) was less than 60%.
As lender he gets 2% standard. The rest is brokers fee. Ltv is as high as 75% lately. And this against real value not purchase price.

Almost forgot to mention that 1-2 year balloon is also the standard.


Sent from my iPhone using Tapatalk