California Hard Money Loan Interest Rates and Origination Fees | Aztec Financial

– All right, the question was, what are the costs associated with getting a loan with Aztec Financial, or for that matter, any hard money lender Well, the costs are, most hard money lenders will usually charge you an upfront appraisal fee

We do not do that So that's a big plus right there It never costs you anything to run a deal by us, and we'll give you an answer within 24 hours We'll not only give you an answer, we'll let you know what our loan amount is We'll let you know what the value is, and give you full disclosure

If everything is happy with you, if it's good to go we can literally go to docs immediately The other costs, any costs that we have, there are no upfront costs, but the costs that are involved in the loan, of course, you have an interest rate The interest rate, that's the only thing, the reason that we pull credit, because we don't really care how bad the credit is, per se, but it does help with pricing So if your credit rate is horrible, of course, your interest rate is going to be a little higher than if your credit was an A credit, for example The interest rates vary usually anywhere from 7

9% on the lower end, all the way up to maybe on the very high end, maybe 119%, with probably the sweet spot, most of the loans are written probably right around 99% As far as the points go, points and loan origination fee are pretty much synonymous They mean the same thing

They're used interchangeably in the industry The points, again, will depend on your experience, the strength of your experience, as well as the credit The points vary anywhere from on the very low end 1 point, all the way up to 3 to 4 points In rare cases it will get a little higher than that in really, really bad situations I did a kind of dilapidated warehouse recently

It was a horrible deal Nobody wanted to touch it We did it, I think we ended up charging 4-45 points Typically, 0

9-2 points are probably the sweet spot All that's negotiable All that's going to depend on your personal experience Of course, the more experience we have the more we can sharpen our pencil for you Also, the more you deal with us, we get a rapport with you, we see how you perform

We see you do a great job on your rehab You know what you're doing You micromanage the project from start to finish very efficiently Of course, the next time around we can get a little more aggressive with you and sharpen our pencil We want you for the long term

We want to keep you happy We want to do good business together that's both beneficial for you as well as the company