Best Interest Rates

What is the interest rate spread that most of you would chose if you could create a mortgage note with a buyer?

The buyer has a FICO score of about 500, which is in pretty bad shape right now. He wants to purchase the property, and our interest rate is fixed at 5.75% What interest rate would you charge the buyer in order to make your profit?

Comments(1)

  • seekingwriter14th January, 2004

    If you're selling a property this way, do you hold the deed until the whole mortgage is paid off?

    The buyer mentioned they will refinance when their credit is better, in about 6 months or so.

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