Posted by Mike on July 05, 2001 at 20:36:43:
Mostly with hard money you don’t want to pay the points up front, it wouldn’t make since on a short term loan. Also HM lenders make they profit by charging you more points because on an early payoff they don’t get to collect all that long term interest.
There are several other fees and taxes that you do have to pay at closing and it’ll cost you anywhere from
$3000-$10,000 depending minly on the price of the house and then the lender’s fees.
Call Rob at 410-385-1818 (Baltimore, MD) He can answer
all your questions and even give you some hard money.