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How to convert owner finance to regular

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rmduhon
Valued Contributor

How to convert owner finance to regular

We are currently buying a home that's owner financed. We put 5k down and are 2 years into a 10 year note. I'm looking to the possibility of getting a regular mortgage instead. Currently hubby's middle mortgage score is a 665, mine is a 658. Can do a new pull for me on the 18th his on the 21st.
Message 1 of 4
3 REPLIES 3
JGGM
Frequent Contributor

Re: How to convert owner finance to regular

Wouldn't this essentially be a re-finance?


@rmduhon wrote:
We are currently buying a home that's owner financed. We put 5k down and are 2 years into a 10 year note. I'm looking to the possibility of getting a regular mortgage instead. Currently hubby's middle mortgage score is a 665, mine is a 658. Can do a new pull for me on the 18th his on the 21st.

 

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Message 2 of 4
Anonymous
Not applicable

Re: How to convert owner finance to regular

Is the owner on board with going traditional sale?
Message 3 of 4
StartingOver10
Moderator Emerita

Re: How to convert owner finance to regular


@Anonymous wrote:
Is the owner on board with going traditional sale?

Sounds like the OP already has purchased the property and the owner is holding a mortgage.  All the OP has to do is get a refinance.

Message 4 of 4
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