Sunday, August 22, 2010

Can I get approved for a mortgage after selling a home land contract?

We are selling land contract with a 4-5 year contract. Can we get approved another mortgage? We are moving south and plan on renting the first year and then want to buy. Will selling land contract affect us getting another loan? I heard that as long as you show that the payment is under contract and being paid on time your fine....Can I get approved for a mortgage after selling a home land contract?
Absolutely. All you would need to show for that would be the contract itself. This essentially washes out that payment as if it is not there. If you have any further questions feel free to shoot me an email.
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