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Updated over 7 years ago on .

Fair interest rate for owner financed loan in TX
Can anyone please let me know a fair interest rate that can be charged on an owner financed loan to a buyer in TX ? I remember that there is a formula used to calculate the max rate but I wanted to know what people generally charge in TX for an owner financed note.
Also would like to know the length of the loan you recommend for such a loan - details below.
Details:
Sale price : 103k
Cash down : 70k
Owner finance : 33k @ WHAT rate ???
Terms : 5 or 10 year note ???