OfflineWhen buying a house and using owner financing,does this info show up on you credit report or your list of monthly obligations?I was wondering if I also go for traditional financing on another property,I don't want my DTI ratio to be too high.Thanks for any help.
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if you ask that they report it then it WILL show up but in most or rather a lot of owner finance cases it does not.
Anita
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Hello Grady 29,
As Anita indicated above the owner financing usually does not show up on your credit report. This can be a good thing if you get traditional fianncing on future properties because there are limitations on how many mortages you may have if the mortages are sold on the secondary markets of Fannie Mae or Freddie Mac. Thus, selling financing or dealing with small local banks can help achieve your goals of owning several properties. Good luck on all your deals. Believe and Achieve!
Indiana-Joe
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Just to add what the others had said,Owner financing and seller financing are the same meaning if know one knew. OWC is one of the best way to sell a home in any market. For more info about OWC go to www.JSNoteFundingGroup.com or pm me for futher info
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Great comments on this subject. Even though a private real estate note is typically not reported to the 3 major credit reporting agencies, if needed you can ask that the home owner do report it. This works great if you are in the proccess of building your credit score back up.
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