Baltimore / Hard Money Calculator
FINANCING
What will a hard money loan actually cost you?
Estimate your interest-only payments, upfront points, and total cost for a fix-and-flip or bridge loan — including what happens if your rehab funds release in multiple draws, and whether the numbers pencil out if you sell at ARV.
?What is a hard money loan?
A hard money loan is a short-term, asset-based loan from a private or non-bank lender — used by investors to move fast on a purchase or renovation a conventional mortgage won't cover yet. Lenders approve them mainly on the property's after-repair value (ARV) — what it should be worth once the work is done — not your credit or the purchase price alone, which means a faster close but a higher interest rate and an upfront points fee. Most are interest-only, with the full balance due in one lump sum — a balloon payment — at the end of a short term, usually 6 to 24 months.
▤How this calculator works
- Enter the purchase price, the property's ARV, and the rehab budget, plus how much of each the lender is financing.
- Enter the rate, points, and term your lender quoted you.
- We estimate your monthly interest-only payment, the balloon payment due at the end, what the loan costs you altogether, and your projected profit if you sell at ARV.
- If your rehab funds release in stages instead of all at once, turn on Advanced below to model each draw separately.
⌂Loan Details
What you're paying for the property.
What the property should be worth once the renovation is finished. Hard money lenders base your loan on this, not on the purchase price — that's what "purchase financing" below actually uses.
How much of the ARV the lender will finance toward your purchase — a common hard money rule of thumb is around 65–75% of ARV. You cover any gap between this and the purchase price as your down payment.
Your total estimated renovation cost.
How much of the rehab budget the lender will fund. Many hard money lenders cover 100% of it, since it's released in draws as work is completed — see Advanced below.
Hard money rates typically run 8–15% — higher than a conventional mortgage, because the loan is short-term and higher-risk for the lender.
An upfront fee charged in percent of the loan amount, due at closing — not spread over the loan term. Typically 1–5 points.
How long you have before the full balance is due — usually until you sell the property or refinance.
Underwriting, doc prep, and other lender fees not already covered by points.
⚙Advanced
Instead of getting your full rehab budget at closing, many lenders release it in stages as work is finished and inspected — so you only pay interest on money you've actually received. Turn this on to add each draw's amount and the month it lands.
%Sale Costs
What it costs to sell the finished property at ARV — used to estimate your profit below.
Agent commission, title/escrow, transfer taxes, and other costs to sell — lumped together. Turn on itemized below if you'd rather break these out individually.
Typically 5–6% of the sale price, split between listing and buyer's agents.
◉Your Estimate
Payment schedule
Cash due at closing
What you need to bring to the table on day one — separate from the loan itself. If the lender finances 100% of the purchase price, your down payment is $0, but you'll still owe points and other closing costs upfront.
What it costs to borrow — not the loan repayment
Interest + points + fees — what this loan costs you, on top of the amount you borrowed. It does not include paying back the loan itself; that's the balloon payment below.
Full amount due at maturity — paid off via sale or refinance
This is your full loan payoff — every dollar actually disbursed to you (purchase funds plus any rehab draws), since interest-only payments never pay any of it down, plus anything else still outstanding at that point. It's separate from — and on top of — the cost of borrowing above.
Profit potential — selling at ARV
This assumes you sell immediately after finishing the rehab, at exactly your estimated ARV — actual market conditions, holding time, and sale price will change your real result.
Enter your loan details to see a plain-English summary of your payments.
This is an estimate for planning purposes only, not a loan commitment. Actual hard money terms vary by lender — rate, points, draw schedule, prepayment rules, and reserve requirements all differ. Talk to a lender for real numbers before making an offer.