Hard money rates in 2025 run 10-12% with 2-3 points. The clock is brutal. A renovation that runs 4 weeks over schedule on a $300k note costs $5,000-$7,500 in extra interest. Here is how to align your contractor with your note.
Lock the Schedule Before You Close
Get a written contractor schedule with dated milestones BEFORE your hard money draw closes. Standardize materials so the contractor can pre-order on day 1.
The 60-90-120 Rule
Plan to have demo done by day 30, rough trades by day 60, finish by day 90, listing photos by day 100, under contract by day 120. If your contractor cannot commit to this timeline in writing, find another contractor.
Get Your Mansfield Renovation Estimate
30-second instant calculator. Real Mansfield 2025 pricing data. No phone call needed.
Run My Free EstimateFrequently Asked Questions
What if my contractor runs over?
Build penalty clauses in your contract — typical $250-$500/day past final completion.
Can hard money be extended?
Usually yes, but at 1-2 points and 1-3% rate bump.
Need to Sell Instead of Renovate?
Not every Mansfield property is worth renovating. If your numbers don’t pencil out — inherited home, tired rental, behind on payments, or a tear-down — our partners at Mansfield House Buyers purchase houses for cash, as-is, in 7-14 days. No agents, no repairs, no commissions.
Get a Cash Offer at Mansfield House Buyers