Owner finance/lease purchase

[bad1026]

What is the name of your state (only U.S. law)? AR

I have a house that i am trying to either owner finance or do a lease purchase agreement on. I still owe on the existing loan. Can someone tell me how this would work? The buyer offered a rate of 7% for 15yrs, but my mortgage is at a higher rate than the 7% and for 30 yrs. Would it be better to do a lease purchase or any other options? thanks for the help!

 

[HomeGuru]

What is the name of your state (only U.S. law)? AR

I have a house that i am trying to either owner finance or do a lease purchase agreement on. I still owe on the existing loan. Can someone tell me how this would work? The buyer offered a rate of 7% for 15yrs, but my mortgage is at a higher rate than the 7% and for 30 yrs. Would it be better to do a lease purchase or any other options? thanks for the help!

**A: is there a due on sale clause in your mortgage note? That is the first step.