owner financing

That is for you to negotiate. It all depends upon how desperate the owner is to sell the home.

Hi Guest,

In my opinion, both the seller and the buyer should negotiate among themselves and decide what will be the interest rate. Once they decide that, they can go for an agreement wherein they can document the interest rate.

Thanks

in order for owner financing to make sense, from a borrower's standpoint, the rate ought to be at least somewhat comparable to what might be obtained in a regular mortgage transaction. inasmuch as most investments don't pay a whole lot of interest these days, i would shy away from anyone charging you more than 7 or 8 per cent on a mortgage they'd be carrying. that might even be too high.