Does Owner Financing Affect Credit?
Owner Financing is Often the Best Option When Buying a New Home, Land Plot or Business Property...But How Does that Affect Your Overall Credit and Credit Score? Sunwest Escrow, LC of Albuquerque, New Mexico is an Expert Facilitator of Secure and Safe Seller Financed Agreements. Their service of negotiating contracts, managing critical documents, and recording historical payment transactions are imperative when securing an owner-financed loan. But this is only part of the overall story associated with owner financing. So how does ‘credit’ play a part in that story? Let’s start with the basics – What is Owner Financing? Buying a new home, land plot, or business property is a huge investment. Given the large cost associated with the purchase, this transaction is almost always financed in some way or another. Owner financing also referred to as ‘seller financing’, happens when a home buyer is financed directly through the seller instead of a conventional bank or mortgage lender.