Does Seller Financing Have Any Impact on My Personal Credit

[Brandon Hunsaker]

I househacked a home for the last two years, and it is now a rental. I am selling it with seller financing because I recently transitioned to self employed and not able to get a HELOC for it since I've been self employed for less than 2 years but would like to be able to access the equity in my home to help build my own business. I have not paid off the mortgage yet so I understand by having a buyer assume my mortgage that the due on sale clause could be called. To help protect me in that circumstance I am having my realtor write a clause that if the due on sale clause in invoked then the seller financed loan balloons immediately and the buyer is responsible to refinance or I can foreclose on the buyer to help insulate myself in the event of the due on sale clause being invoked. In addition to this risk are there any other risks to my personal credit or being able to obtain a future mortgage or loan through my personal credit that could be impacted by extending seller financing to a buyer?