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Is a 30-year fixed rate possible?

The rates are always negotiable with a seller.

Seller typically ask higher rates for smaller down payment, longer term and / or lower price,

OR

lower rate in exchange for larger down payment, shorter term, and / or higher price.

I would keep it under 5 percent, not hard to find now.
Good Luck this new year.
JM

Rates will depend upon the seller-but since you are woking directly with the seller, you should be able to negotiate. Do your hoework-check going rates with local banks mortgage co's-just to be sure you are being given a fair rate.

A smaller seller held mortgage can supplement a bank mortgage in situations where the buyer is unable to qualify for the full loan amount needed to purchase the property. This would be a second mortgage on the property.

Yes it is. The thing to think about is how long your willing to hold the note. For example. If you are fifty years or older are you going to need the cash sooner. Say for retirement proposes. I would say the more notes you hold the longer you would be willing to hold those notes.

From a seller's perspective, if you plan to sell the note, consider this: The interest rate sets the tone for the value of the note. Try not to write a note that has a 5% interest rate amortized over 30 years. A note investor who will consider that note will offer a deep discount, especially if it's a new note. However, if you are okay with a 5% yield on your money/property go ahead and offer a 5% interest rate. Keep in mind a buyer could get that type of rate through a bank. If they couldn't qualify for a bank loan why would you take that type of risk and offer them the same rate? Five percent (5%) is to the benefit of the buyer, not you. Consider a rate 2 - 4 points above a bank rate.
You can be sensitive to the buyer by setting a term he or she can afford each month.

Yes it is. However, if you plan to sell note your note it will not be as valuable as a 10 or 15 year note. Something to consider: Amoritize note for 30 years but make the term for less. For additional info about creating a note, visit:
www.cashfundingfornotes.com/index/creatinganote.html