Owner Finance w payments

[Johnna Lodge]

I have a family who wants a no interest loan.

I explained I could amortize the loan but give them a payment. I ,like a bank,  loan is amortized. due to their culture n beliefs they can't pay interest. 

I require 20% down to owner finance. The property price is $190k this year ( they r going to do a rent to own until they can reach the 20% down).  

They said they wanted pay off for 10 years.

I will not go the route of principle only.

Just trying to find a way to make it work for all parties.

Ty

[Kris L.]

If they can’t pay interest due to religious beliefs, are they ok paying a “loan management fee” or whatever you want to call it besides interest?