So did you just pay the fee and the lender took care of the 280,000 and how much does it cost to pay the lender back as on if the loan was 280,000 then how much interest on the loan were they charging and overall what did that make the overall cost of the hose come to ex 280000 but with the loan and interest home cost 350000
My hard money lender earned 12% interest based on how long I held the property and how large my loan was. I used rehab funds from the hard money lender on this project so anytime I got funds from them, my loan balance increased. I paid monthly interest on the loan balance at 12% in interest.
So did you just pay the fee and the lender took care of the 280,000 and how much does it cost to pay the lender back as on if the loan was 280,000 then how much interest on the loan were they charging and overall what did that make the overall cost of the hose come to ex 280000 but with the loan and interest home cost 350000
My hard money lender earned 12% interest based on how long I held the property and how large my loan was. I used rehab funds from the hard money lender on this project so anytime I got funds from them, my loan balance increased. I paid monthly interest on the loan balance at 12% in interest.