Can I buy another home after selling my home with owner financing or the Mortgage Assignment Program?
It depends on many factors. When you sell your home with owner financing, you are still technically liable for that loan until it is paid off or the buyer refinances or sells the property. So when you go try to buy another home and they pull your credit then it will still show up as a debt. Some lenders will count a portion of the payment against you as a debt just as if you owned a rental property. So yes, in this case it will affect you unless you make enough money or do not have that much debt that it does not make much of a difference. However, this is different with every lender and it is up to them whether they will count it against you and by how much. Some may not count it. On a positive note, if you have cash flow from the sale of your home because you had a lot of equity then this will count as income and will probably help you. Again, every lender is different so it is hard to give you a guarantee.
