What is the best type of loan and what is minimum interest he can charge on mortgage loan?My father is able to finance my sister and I on a home. He states that by law he must charge us the "going" interest rate to comply with laws and regulations. Not certain the following information is needed to answer the question I am asking but I will include it anyway. The home is currently owned by my sister and has a lein from the bank and an approximated pay off of $65,000. At the time of the sale we would be adding myself and my sister as equal individuals on the note/title. He would pay off the mortgage of $65,000 and an additional amount of $85,000 to $130,000 would be financed to repair and remodel the home. Therefore, the finance amount would be between $145,000 to $195,000; ($65,000 lein payoff + $85,000 to $130,000 to remodel = finance amount of $145,000 to $195,000). I am not savvy to all the different types of home purchasing loans available but obviously we want whatever makes our payments the least while obeying all laws and regulations out there. He has stated that he is willing to finance the home for up to 30 years. The home would be completely repaired/remodeled with in six months from the sale date. At that time the home would be valued at approximately $210,000. The home is located in Stilwell, KS. Thanks for taking the time in this matter.January 05 2013 - Stilwell00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.