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Apply NowUnderstanding Hard Money Loan Terms
Interest-Only vs. Amortized
Interest-only loans require payment of just the interest during the loan term, with the principal due at maturity. Amortized loans include both principal and interest in each payment.
Balloon Payments
Many hard money loans have balloon payments, where the remaining principal is due in a lump sum at the end of the loan term.
Origination Fees
This one-time fee is charged when the loan is established, typically 1-3% of the loan amount, and is used to cover the costs of processing the loan.