Lending From Family member

[Will F.]

Hello,

So I was going to get a loan from a close family member for around $125K to purchase a condo or home for myself.

I was wondering what is the legit way to do this?

It does not necessarily need to be recorded but I am amortizing the loan over 30 years etc at 4.5%.

Is there an easy way to "do-it-yourself" as in write something up and just start paying him. I want do this legitimately on his side also so that he can report his 4.5% earnings to IRS etc.

I was thinking of just using a form from a place like Nolo or similar, has anyone done this before?