Existing Land Contract effect on New Lending

[Bethany M.]

We have not needed a mortgage since acquiring our personal residence on land contract. We are now considering a sizeable mixed use purchase, also on land contract. In the event of seeking financing through a conventional mortgage in the future, on new large purchases, I’m wondering if we need to disclose the mixed use land contract if we also aren’t disclosing the income from it? Lenders we’ve dealt with in the past made our rentals only as valuable as the equity and disregarded rental income...that would be a little extra frustrating with the mixed use land contract purchase.