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How do I put my new husband on my home loan

I just got married and want my new husband on my home loan and to refinance. He has better credit than I do at 740 where I have 690 and I want to refinance my mortgage. by fawnle_979_461 from Jackson, Mississippi. Jul 13th 2012 Reply


Travis Torcoletti (travis.torcoletti)
#0 ranked lender in South Carolina - 372 contributions

The only way for him to get on the loan is to refinance it together with both of you as borrowers so both of you would need to meet the qualification standards. Lenders will typically use the lower median credit score from the two borrowers so that means if your median score were 690 then that's what they would use. No matter though, that is good enough to qualify so you guys should contact a local mortgage broker and see what they can do for you.

Jul 13th 2012
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Bert Carpenter (BertCarpenter)
#1 ranked lender in Arizona - 2,300 contributions

If you are looking to re-finance your current loan, then the easiest way to add him to the transaction is to have him apply with you. Your local Mortgage Professional will help you with this. Work with a local Mortgage Banker/Broker, rather than one of the big banks or national mortgage factories. Unlike a bank employee, who is most likely just an order taker, a Mortgage Broker/Banker is Trained, Tested and Licensed in all aspects of Mortgage Origination. We have access to loan products of many lenders, not just those of one bank, and can properly guide you. But more importantly, we are trained to take a look at the various different options available to you and guide you into the one that makes the best sense for your situation. Don't forget to check out your selected Mortgage Originator at the National Mortgage Licensing System at www.NMLSConsumerAccess.org ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com ~ 888-889-9950

Jul 15th 2012
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Peter Botros (PeterBotros)
#70 ranked lender in New York - 895 contributions

Visit your local lender. They will qualify the refinance using the 2 of you together. As long as you meet all the requirements for a new loan, it shouldn't be a problem for you. Best of Luck!

Jul 13th 2012
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Sunny Miceli (sunny@sunnymtg.net)
#2 ranked lender in Mississippi - 5 contributions

Assuming your new husband does not have debt that would create an issue for the Debt to Income ratio, there will be no problem adding him to both the ownership and mortgage when you refinance. Make sure you contact several lenders and review all costs for the refinance; keep in mind as well, that refinance loans are taking a great deal of time right now so watch the number of days on your lock; if you decide to lock at application. Let me know if we can help sunny@sunnymtg.net

Jul 13th 2012
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James Stachyra (Jstachyra)
#65 ranked lender in Illinois - 10 contributions

Hello user,Lenders use the worst middle of the two borrowers. Refinancing with him on it would not make a difference. it would only make a difference if you current rate is 5% or higher and you are trying to take advantage of today's low rates. It also depends on your loan to value ratio. There are a lot of moving parts on a mortgage that are all part of the rate pricing. If you would like to contact me with your loan scenario I can run some rates for you and send you something to use for comparison. My contact information is on my profile.Thank you,James R StachyraSenior Loan OfficerCell: 708-259-2279Email: jstachyra@primelending.com

Jul 13th 2012
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