Structuring a Private Loan as a Mortgage

[Rachel N.]

I have a family member who is willing to give me a loan and hold the mortgage for an investment property. How do we get the loan officially "on the books" so that I can declare mortgage interest on my taxes?

[Wayne Brooks]

You execute a Note document and a Mortgage document, which gets recorded.  One of you creates/tracks an amortization schedule.  It helps if the lender issues you a statement of interest paid each year, but not necessary.