Every one of you that asks if there are upfront fees on a hard money loan is exposing that you know literally nothing about investment lending, hard money, or investment financing. THERE ARE UPFRONT FEES ON EVERY HARD MONEY LOAN! If you cannot pay upfront for appraisal, legal, and processing if the lender requires it, leave the business since you are obviously not really in this business anyway. Over the years I have been sent many messages from lenders asking if I could clarify so all you fake mortgage brokers that have never closed a single loan can learn. Lenders do not need to pay for your third party costs upfront on your behalf and if a lender wants a processing fee because they do not want to put in significant work on a deal they feel probably will not happen, you should happily pay them. HARD MONEY LOANS HAVE UPFRONT FEES!!!
I am not a lender and have nothing to gain here other then I am so sick of all the thousands of uninformed people saying "are there upfront fees?". If you don't want to pay upfront fees then walk in to your bank and get the loan. Wait, you have bad credit, a high debt ratio, or little money down and can't get bank financing? Then shut your mouth, pay what the lender requires, and be thankful for your loan.
Rant over but it is much needed.
Thank you for being one of the few that keeps it real Admin! Appreciate your honesty and you providing us a website for so many of us to connect and do business.