A better picture of your numbers can be a game-changing factor when applying for any loan program. Planning your expenses is vital; we have this helpful guide on the best hard money loan calculators.

A Hard money loan is a commercial mortgage provided by an independent investor, such as an individual or a company. It is usually taken for a short term of 12 months to 3 years. But unlike commercial loans from banks, hard money loans are based on property used as collateral rather than the borrower’s creditworthiness.

Hard money loan calculator figures monthly payments on a hard money loan, offering payment amounts for P&I, Interest-Only and Balloon repayments and providing a monthly amortization schedule. This hard money loan calculator automatically figures the balloon payment based on the entered loan repayment period. If you make interest-only payments, your monthly payments will be the interest-only payment amount below, with the balloon payment as the original amount borrowed.

To be successful in your investment project, it starts with knowing your numbers. Below are the 6 best hard money loan calculators.

ABL’s fix and flip loan calculator
ABL’s fix-and-flip hard money loan calculator aids investors in developing a high-level understanding of the finances involved in their project, so they can plan and perform accordingly.

BRRRR calculator
Using a BRRRR hard money loan calculator gives you a good idea of how much a hard money loan will cost you and how much you might make once the entire project is complete.

Hard Money Calculator & Deal Evaluator
This hard money loan calculator comes with charts and illustrations that help you better understand your deal’s profitability and return on the cash you have invested. It also provides underwriting comments and recommendations.

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