---

Adding friends name on the title

Author	Message
	Add to del.icio.us Add to YahooMyWeb Add to Simpy Add to BlinkList
Steve Rav Guest	Posted: Mon Sep 19, 2011 12:43 pm    Post subject: Adding friends name on the title Like 0 Dislike 0 I am first time owner. Plannig on purchasing a property as primary residence. My friend is lending me 50% of the downpayment and we agreed to continue the partnership on the house. What is the best to handle. 1. Should I get a mortgage on my name and add his name after we close. or 2. Simply get mortgage on both names. In that case, not sure how it will work as I will be occupying and it will be an investment property for him. Any help is appreciated?
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Mon Sep 19, 2011 7:52 pm    Post subject: Like 0 Dislike 0 Hi Steve! Welcome to forums! If both of you meet the required criteria of the lender, then both of you can jointly apply for a mortgage in order to buy the property. In such a situation, both of your names will be added on the property title. Thus, both of you will remain the owners of the property as well as liable for the mortgage payments. Feel free to ask if you've further queries. Sussane
sabrinatoss Community Expert Joined: 16 Jan 2011 Posts: 516 Location: Australia 82.74 Dollars($)	Posted: Mon Sep 19, 2011 8:32 pm    Post subject: Like 0 Dislike 0 Hello Steve? Yes! 1. Should I get a mortgage on my name and add his name after we close, for assurance even he is your friend. _________________ Home Loan, Mortgage Insurance Calculator, Mortgage Broker

Quick Reply
Your Name
Subject
Image Verification	Enter the code above here : Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours

Page 1 of 1

---

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0