Can my new husband refinance his home loan without adding me on the loan?
Linda asked:
We live in Washington state; he has great credit, but mine is lousy and I don’t want it to affect the rate.
April
We live in Washington state; he has great credit, but mine is lousy and I don’t want it to affect the rate.
April
Tags: Home Loan, Refinance Loan, Washington State
May 26th, 2009 at 8:27 am
Adam
sure
May 27th, 2009 at 12:51 am
Leslie
if just his name is on the original loan, sure.
May 30th, 2009 at 6:48 am
Bradley
Yes, and these are record low rates now.
June 1st, 2009 at 2:50 am
Regina
Yes, he can, if he has the credit and income to support the loan alone without your help (financially)
June 2nd, 2009 at 3:12 am
Holly
Yes but because you live in a community property state most lenders will pull a copy of your credit report and add any of your debts to his for debt to income ratios. Don’t worry though your credit score will not impact the loan.
June 2nd, 2009 at 2:58 pm
Shannon
State laws vary- I do mortgages in Tennessee- both spouses must sign the Deed here- but we can do the loan in just one spouses name with no problem. Basically the non-borrowing spouse still has ownership in the property but no liability for the loan. Call a title company in your state- they should know the state laws there.
June 3rd, 2009 at 8:30 pm
Ruth
yes he already has the loan without you on it now, it shouldn’t make
any difference in the refinance. your name doesn’t need to be on the loan
unless he won’t qualify without your income. he can still put your name on the title if you want. you don’t need to be on the loan to have your name on the title. i bought my house without my wifes name on the loan
because she didn’t have good credit either but her name is on the title to the house with mine.