HML Math Question

[Susie C.]

Hi all!  

I had a question. From my understanding, most HML want you to have a financial stake. I've spoke to some via BP site and most want you to put down 20% of the purchase price of a home and they can front the other 80%.

My question is that if they are on a 9% IR and let's say I flip a home and sell it within 2 months, does this mean that I am going to pay them: 

Loan Amount + Loan Amount x IR% x  _months?

So, let's say it's  500k loan with 9% IR then it's $45,000? 

Or does this break down based on a 12 month term, so 45,000/12= $3750 x 2 months = $7500  

Can someone please help to clarify? Thank you!