Owner Financing sellers would like 10% down, 6% interest with a 30 year loan with a ballon paymentafter5 years?

At the end of 5 years you have to pay the entire balance of the loan. If you do not the landlord may be able to foreclose on the loan or the loan term may change. You need to read carefully the consequences of the loan if you fail to pay off the loan at the end of the five year period. Most people refinance at the end of the five years with another lender. The seller does not want to be a bank for 30 years, and it give people an opportunity who do not have good credit to buy a home.