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Updated about 12 years ago on . Most recent reply

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127
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10
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Matt Liu
  • Jersey City, NJ
10
Votes |
127
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Family loan -Should it be Ammortizing? 30 year?

Matt Liu
  • Jersey City, NJ
Posted

When borrowing a smaller amount from family, say 25k, for a downpayment, is it at all common to do a 30-year ammortizing loan? If so, what rate? Is 7.5% 30 year ammortizing reasonable? I want it to be attractive to them and at the same time affordable for me.

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