If YOU were writing a Note, what do you need to feel secure?

[Jason Crittenden]

I am funding a loan for a buyer this week, with the intention that they will refinance in the next 6 months to pay me off. 

Terms of the deal: 

2 points up front at close of escrow

10% interest only paid monthly via a servicer. 

I will have title insurance through the title/escrow company. They will originate the note. 

I’m actually doing an 80/20 (I am 80% and in first lien position). 

Buyer is pre-paying 1 year of taxes and insurance at close of escrow. 

Do I need them to do anything more? Something I missed? What else is important?

Thank you in advance, I do not have experience being a lender, this was an out-of-the-blue opportunity for someone I trust and decided to take it.