Hard money lenders in Virginia typically charge an annualized interest rate and points (fee paid as a percentage of the loan amount). Expect to see interest rates for a hard money loan between 10% and 16%, depending on factors like loan-to-value (LTV) ratio, borrower credit score, cash available for down payment and experience. In addition to interest, borrowers should expect to pay points (2-5% of the loan amount), origination fees, and other transactional costs.