Need Owner Financing Advice (Im the owner)

[Brandon Smith]

Hi Bigger Pockets Family,

I need your expertise. I have a house in Fort Worth Texas, that I am trying to sell, but it is not selling the way I would want it to (beautiful house in transitional neighborhood). I am thinking about opening it up to owner financing. However, I am not too privy on what decent term rates are in this realm of creative financing. I am thinking the following:

This would be a wrap around mortgage as I still owe $165k on it.

Sale Price $245k (market price)

10% down ($24,500)

10% Interest 

30 year (please tell me if thats a bad idea)

Monthly payment based on 30 yr ($1930/mo + tax and insurance) = $2448/mo

Please let me know if i left any pertinent information out.

Any sleuths out there can check it out. 🤓 (1032 E Tucker St Fort Worth, TX 76104)