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I am looking at purchasing a few duplexes. The guy is willing to owner financing them for 30 years with a 5 year balloon. I want to maximize my principal payments. Is it possible to secure 2 notes with one mortgage? I would like one mortgage to be for $30k with 4% interest and paid of in 5 years and the other to be a lump sum of $120k paid to him 5 years from now. It would be a 0% loan. Would i need to have 2 notes for this or could i have them both in a single note? Thanks for the help.
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