Posted on: 08th Jul, 2010 07:49 pm
I'm refinancing our home mortgage. My wife is concerned that she is not on the loan or paperwork. We've been married almost 10 years and in the same house in Texas.
Now that I'm refinancing, she claims that it would help her credit to be listed on the mortgage loan and this is a prime time to add her. I'm sure there is some validity to this, but my questions are:
1.) being a housewife, albeit with 700+ credit score, does it behoove us in an amicable way to add her to the application paperwork and the loan? My credit is outstanding and I've been approved for a great rate.
2.) is there any reason simply adding her to the title would not suffice for her ownership purposes?
Thanks!
Now that I'm refinancing, she claims that it would help her credit to be listed on the mortgage loan and this is a prime time to add her. I'm sure there is some validity to this, but my questions are:
1.) being a housewife, albeit with 700+ credit score, does it behoove us in an amicable way to add her to the application paperwork and the loan? My credit is outstanding and I've been approved for a great rate.
2.) is there any reason simply adding her to the title would not suffice for her ownership purposes?
Thanks!
Hi stevegaas!
Welcome to forums!
You can add your wife to the property by using a quit claim deed. She has a descent credit score and I don't think the lender will have any issues in adding her name to the mortgage. Once you add your wife's name to the property title, she would become one of the owners of the property.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
You can add your wife to the property by using a quit claim deed. She has a descent credit score and I don't think the lender will have any issues in adding her name to the mortgage. Once you add your wife's name to the property title, she would become one of the owners of the property.
Feel free to ask if you've further queries.
Sussane