Hard Money Loan Calculator

Prices a hard money loan the way one is actually written: points charged at closing, interest-only monthly payments, a minimum interest guarantee and the full principal falling due as a balloon. Enter the amount, the quoted rate, the points, the fees and how long you expect to hold, and it returns the payment, the cash due at closing, the interest over the hold and the effective annual cost of the money. A second mode sizes the loan on a purchase and rehab from the lender's cap on after repair value and its cap on total cost, and shows what you have to bring to close. Default interest, extension fees and draw fees are left out, so a real loan costs a little more than this.