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Hard Money Loan Calculator

See what a fix-and-flip or rehab loan will really cost before you make an offer. Enter your purchase price, rehab budget and after-repair value (ARV), then the lender's rate, points and fees. You'll get your loan amount, interest-only monthly payment, cash due at closing, total cost to borrow and estimated profit.

Your deal

Interest-only. To be conservative, interest is charged on the full loan for the whole term (many lenders only charge interest on rehab money once it's drawn, which would lower your cost).

Your estimate

Loan amount
$279,000
Limited by loan-to-cost
Monthly interest payment
$2,558
Interest-only
Cash due at closing
$8,080
Down payment + points + closing fees
Estimated profit
$56,903
89.5% return on your cash
Down payment on purchase$0
Points (2%)$5,580
Other closing fees$2,500
Rehab funded by lender (draws)$29,000
Rehab you pay yourself$31,000
Total interest (9 months)$23,018
Draw fees (6 × $250)$1,500
Total cost to borrowInterest + points + closing fees + draw fees$32,598
Total cash you'll needCash at closing + your rehab share + interest + draw fees$63,598
Selling costs (6%)$25,500

Estimate only, not a loan offer. Real terms depend on the lender, property, and your experience and credit.

Don't call lenders one by one

Describe your fix-and-flip deal once. Lenders send real term sheets you can compare side by side. Free, about 60 seconds.

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How this hard money calculator works

Loan amount. We take the lower of your max loan-to-cost (LTC) times purchase plus rehab, and your max loan-to-ARV times the after-repair value. That's how most fix-and-flip lenders size a loan.

Monthly payment. Hard money loans are almost always interest-only, so the payment is loan × rate ÷ 12. We assume the whole loan is outstanding for the whole term. If your lender only charges interest on rehab money after it's drawn (“Dutch” vs. “non-Dutch” interest), your real cost will be a bit lower.

Cash due at closing. Only what you pay on closing day: the part of the purchase price the loan doesn't cover, plus points and other closing fees. Rehab funds the lender holds back come later in draws.

Total cost to borrow. Everything the loan costs you over the term: total interest, points, closing fees and draw fees for 6 draws.

Profit estimate. ARV minus purchase price, rehab, total borrowing cost and selling costs. Return on cash compares that profit to the total cash you put in.

Tips to lower your hard money loan cost

  • Compare points as well as the rate. On a 6–9 month flip, 1 point can matter as much as 1% of rate.
  • Ask whether interest is charged on the full loan or only on drawn funds.
  • Plan a realistic timeline. Every extra month adds a full month of interest, and extension fees can apply.
  • Get several term sheets. Rates and fees vary widely between lenders for the same deal.

Ready to compare real terms? Browse the hard money lender directory to see advertised rates, points and leverage by state, or submit your deal once to get competing term sheets for free.

Frequently asked questions

How is a hard money loan payment calculated?

Most hard money loans are interest-only. The monthly payment is the loan amount times the annual interest rate, divided by 12. For example, a $250,000 loan at 11% is $250,000 × 0.11 ÷ 12 = about $2,292 a month. The full loan amount (the balloon) is due at the end of the term, usually when you sell or refinance.

How much can I borrow with a hard money loan?

Lenders usually cap the loan two ways: a percentage of your total cost (loan-to-cost, often 85–90% of purchase plus rehab) and a percentage of the after-repair value (often 65–75% of ARV). You get the lower of the two. This calculator shows which limit applies to your deal.

What are points on a hard money loan?

Points are an upfront fee charged as a percentage of the loan. One point equals 1% of the loan amount. Hard money lenders commonly charge 1 to 3 points, paid at closing.

How much cash do I need to close a hard money loan?

At closing you typically pay the part of the purchase price the lender doesn't fund, plus points and closing fees such as underwriting, processing, legal and title. Rehab money the lender funds is usually held back and released in draws as work is finished, so it isn't part of your cash to close. Interest and draw fees are paid later, during the project.

What are draw fees?

When the lender holds back rehab money, you request it in stages (draws) as work gets done. Lenders often charge an inspection or draw fee each time, commonly $150–$350 per draw. This calculator assumes 6 draws over the project.

What is a typical hard money interest rate in 2026?

Advertised fix-and-flip rates generally fall around 9% to 13%, depending on the lender, your experience, credit score, leverage and the property. Compare lenders' advertised terms in our lender directory, or send your deal once to get real term sheets.

Is this calculator a loan offer?

No. It's an estimate to help you plan. Actual terms depend on the lender and your deal. HardMoneyRate is not a lender.

How this directory works

HardMoneyRate does not rank lenders by who pays us. Lists are A–Z by default and you choose the sort. No lender can buy a higher position, a “featured” badge, or a better rating. Terms are what each lender advertises on its own website, checked regularly. They aren't offers and haven't been confirmed with the lender. Reviews can only come from borrowers who actually connected with that lender through HardMoneyRate. Lenders can request corrections or removal at any time.