What is the lowest legal rate a private party can finance a mortgage for?

Dharwadian asked:


My Dad wants to finance my home but doesn’t know what rate he can charge me.

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Tags: Finance, Legal Rate, Private Party

This entry was posted on Sunday, January 18th, 2009 at 6:14 pm and is filed under Other - Business & Finance. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.

3 Responses to “What is the lowest legal rate a private party can finance a mortgage for?”

1. quizzard123 Says:
   January 20th, 2009 at 8:37 pm

   Lowest? He can charge you zero interest if he wants. Heck, he could charge a negative amount if you can figure out how to arrange that.

   It’s his money, nobody cares what he does with it.

2. bfunk_brian Says:
   January 21st, 2009 at 8:52 am

   uhhh, 0%. he could charge you negative interest or just buy you the house

3. fenixfighter Says:
   January 22nd, 2009 at 2:50 am

   If you dad is doing it 100% by himself, then he can charge you no interest. But if he wants to broker it through a third party lender, you might want to check out your local rates.

   You can get free mortgage rate quotes from

   Just type in your zipcode, and then it lets you compare rates from up to four different lenders. Then you can find who offers the lowest rates in your area. Hope that helps. Good luck.

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