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Updated over 5 years ago, 04/15/2019

User Stats

78
Posts
43
Votes
Johnna Lodge
  • Investor
  • Mableton, GA
43
Votes |
78
Posts

Owner Finance w payments

Johnna Lodge
  • Investor
  • Mableton, GA
Posted

I have a family who wants a no interest loan.

I explained I could amortize the loan but give them a payment. I ,like a bank,  loan is amortized. due to their culture n beliefs they can't pay interest. 

I require 20% down to owner finance. The property price is $190k this year ( they r going to do a rent to own until they can reach the 20% down).  

They said they wanted pay off for 10 years.

I will not go the route of principle only.

Just trying to find a way to make it work for all parties.

Ty

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