I don't know of any hard money lenders at 10%. I believe our (Good Funds Lending, LLC) rates and fees are lower than the other hard money lenders in the Denver Metro Area. We charge 12.5% interest rate, 3% origination and $200 documentation. We do not charge any up front fees.
For others reading this, I often find that borrowers that ask for a hard money loan would be better off with another funding channel (e.g. HELOC, Credit Partner, Self Directed IRA). I let them know I am happy to make the loan, but I think there may be a better channel for them. Hard money works very well for certain projects and situations, but borrowers should check out other channels before using hard money.
We are relatively new to hard money lending, but can provide references to borrowers.
You can find more information at Good Funds Lending, LLC website (goodfundslending.com).
We are a true direct private hard money lender and not a broker. There are no 3rd party underwriters or fund investors that can complicate or slow the process, increase the costs or even withdraw funding. We make hard money loans to experienced investor borrowers (borrowers have typically completed at least 3 similar projects). We recognize there are capable first time borrowers, but we believe on average experience lowers the risk of unsuccessful projects and lowers our costs. Hence we can be flexible, quick and have lower rates and fees.
The aforementioned is personal opinion and I believe it to be correct at the time of posting. None of the content should be considered a binding offer or agreement. I make no claims, promises or guarantees about the accuracy, completeness, or adequacy of the information. I recommend consulting a qualified professional before acting. Rates and terms are subject to change.