how to know loan balance and amounts due on a non bank loan

[Marcia Langley]

When borrowing capital  - say 20k for fix up from a non bank source - how do you know what is due if you pre-pay extra money beyond the monthly payment - who manages that, loan balance, statements etc? How can it be made easier for the person lending the money so s/he has confidence in a simple repayment process?

Planning to offer on a 2fam s/s and searching for the lowest amount of rehab $ possible - to not overborrow. And like to be armed with background when shopping acquaintances with thid opportunity. Also what rate to offer? and term?