I have heard that there are people out there that will finance somebody on a home loan with better rates than banks will. Me and my fiancee have good credit and good paying jobs. We have a property in mind and are planning on doing a conventional 30yr fixed mortgage, but was told by a friend that there are people out there that will finance homes with a 4-5% interest rate for 15 years. Any truth to this? and if so, where do i find them? Also if i did something like this, would the interest be tax deductable?
probably not. people can get a better return than that from bank cds.
Black,
The days of rates like that are long gone. On a 15 year loan you are looking at the mid to high 5’s to the low 6’s’s. Your interest and taxes are are tax deductible on a home loan.
Are you putting money down? Regardless and can throw the 4’s out.
No money down