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can i put my daughter on the mortgage via a refinance?

im not trying to refi just to put her on the mortgage i also want a lower interest rate. but hoping to accomplish 2 birds with one stone. her credit is very close to mine, both in the 710 range. she is eventually going to take over the entire house payment but that won't be until 2016. can we get her on? by hilardi78462635 from Clayton, North Carolina. Oct 6th 2014 Reply


Jason Kelley (jkelley@equitymortgagelending.com)
#79 ranked lender in Maryland - 19 contributions

Yes we can get her on the mortgage with you. In terms of getting you a lower rate and payment aqt the same time I would need a little bit more information. Please give me a call and we can provide you with a free assessment with no obligation.My name is Jason Kelley with Equity Mortgage Lending please call me at 443.471.4320

Oct 6th 2014
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forgot to also ask will this cost extra

Oct 6th 2014
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Rob Ballance (robbieballance@eaglehm.com)
#69 ranked lender in North Carolina - 19 contributions

This would not be a problem and it can be done with no closing costs. Give me a call and we can discuss your options. Rob Ballance 919-524-6651 or 919-594-6905

Oct 6th 2014
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Rob Ballance (robbieballance@eaglehm.com)
#69 ranked lender in North Carolina - 19 contributions

I also live in Clayton and would be happy to set up an appointment to sit with you and discuss in Clayton. Rob Ballance 919-524-6651 or 919-594-6905

Oct 6th 2014
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Nevin Williams (NevinWilliams)
#42 ranked lender in North Carolina - 108 contributions

That is easy if your daughter has acceptable credit. Any lender can help you with this.

Oct 6th 2014
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Tom Laakmann (HomeLoanPro)
#60 ranked lender in North Carolina - 8 contributions

yes, you sure can refinance to a lower rate and add your daughter at the same time, as long as you both meet the credit/income requirements. Id be happy to give you a free consultation to discuss all your options and provide you with a written estimate of potential costs and new monthly payments. Tom 910-520-6402, available weeknights until 8:30pm.

Oct 6th 2014
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Nevin Williams (NevinWilliams)
#42 ranked lender in North Carolina - 108 contributions

Will this cost extra? Adding your daughter will not cost extra unless she has a credit score that causes the lender to have to include a risk based adjustment...................................................................................................... A risk based adjustment is an additional charge imposed by the GSE (Fannie Mae/Freddie Mac) for items that add risk to a loan file. The riskier it is the higher the charge is to get the rate you want. If her credit mirrors yours then there is no additional charge.................................................................................................. Lastly, lenders can offer no cost loans. How do they do it? A higher rate accepted by the customer generates a lender credit. The lender credit is used to pay loan fees. The higher the rate the larger the credit. So you still pay for it but instead of paying fees you pay a higher monthly payment by accepting a higher rate to have the lender pay all of the closing costs.

Oct 6th 2014
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William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,797 contributions

Absolutely, you can refi and add her to the loan.. she must meet all eligibility requirements just as you would, but this is not a problem.. and NO.. it should not cost you any more. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Oct 6th 2014
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