Posted on: 06th Apr, 2009 02:18 pm
We have a small home and 1+acre in the country, we are going to "rent to own" it to a friend. After consulting with the bank and since the renter has no $ to put down on it, they suggested 10%. What is a fair interest rate?
Interest depends on alot of factors, how is the persons credit rating?
Yes how is the credit? Are they a responsible party? And how close of a friends is this?
we have been friends through work for approximately 4 years. she doesn't have good credit and never said why, but i think it is due to a deadbeat husband.