Ask Cornerstone: If I sell my home “subject to”, do I become eligible for another mortgage right away?

Mortgage Eligibility after Subject To Sale

When you sell your home subject-to, you are still responsible for that loan and the loan shows on your credit report. So, when you fill out a loan application for a new loan with a second bank, the bank will know that you have a loan on your first house. The bank will qualify you based on your ability to carry both loans.

 

 

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