![]() This amount would be reduced by any renovation costs paid by the borrow. After subtracting the $21,038 in interest expenses ($1,169 times 18 months), the $6,375 origination fee, the $127,500 principle on the loan, and the $22,500 he contributed to the closing, he will make a gross profit of $25,088 ($202,500 price minus $177,413 in costs). At the end of the loan, he sells the rehabed house for $202,500. ![]() The monthly interest-only payments will then be $1,169 to the lender. In addition to paying the $6,375 origination fee, Norman will also fund $22,500 of the purchase with his own money, or 15% of the sales price. VA 24024 F NYYNN JASPER TN 37347 B NYYNN MARS HILL ME 04758 B NYYYN TN 38501 B. Citizens State Bank can be contacted via phone at (423) 837-2265 for pricing, hours and directions. 1159 Volunteer Parkway Suite B Bristol TN 37620-4684. Citizens State Bank is located at 865 Main St in Jasper, Tennessee 37347. Providing Installment Loans in Bristol, TN Security Finance. The note is interest-only, with monthly payments, and is for 18 months at 11% interest with 5 origination points paid at the closing. Looking for a personal installment loan Call or visit Security Finance’s Bristol branch and speak to one of our specialists today. ![]() This means that Norman will bring 15% of the sales price to the closing and the principle will be $127,500 on the loan. Continental Loans can be contacted via phone at (931) 296-5008 for pricing, hours and directions. The loan-to-value (LTV) on the loan is 85%. Continental Loans Continental Loans is located at 115 N Court Sq in Waverly, Tennessee 37185. If you need to call Continental Loans in Bristol, TN, here is the phone number: 14237643882. Since he does not have enough cash available to acquire the $150,000 property outright, he decides to take out a hard money bridge loan from North Star Funding Corporation. ![]() Norman finds a townhome in Jasper, TN to rehab and resell. ![]()
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