interest rate for 2nd lein

I am selling a commercial building I have. The buyer wants to assume the current mortgage which is at 9% interest and I will carry a second lein. My question is… what would be a good and fair interest rate to charge? Any help and advice would be appreciated. Thanks so much.


a fair rate would be just below what the market is on a banks second mortgage. so if the bank would charge 13% then charge 10%

rember that not only are you doing a favor for this person but your taking a much greater risk. your tieing up your money that could be used for something else. and you need to make a little something off of it to right? business is business

Wow! I’m glad I asked! Thanks for your input. I was thinking more like 7% or 8%. Or maybe at best the same as the first mortgage…9%. I wasn’t thinking as “business like” as you suggested. Thank you very much.