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Updated over 5 years ago, 04/15/2019
Owner Finance w payments
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