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Refinance Before OR After Marriage

I currently have an ARM I am looking to lock in a low rate. Should I refinance now or wait until after I get married? by meryl938 from San Diego, California. Oct 11th 2010 Reply


Chris Ghaemi (MultiStateHomeLending)
#333 ranked lender in California - 3 contributions

You need to first determine if you need her income or not. If you don't, then do it now as I don't see the benefit of also obligating her for the new loan. My strategy has always been simple. Diversify and minimize the risk. In the event of emergency or unpredictable events where your mortgage payments might get behind or even worst, you will be preserving her credit so you can utilize for later situations. On a different note, if you decide to use her on the loan, then you must grant her to the title and that I believe is indeed a personal matter to determine based on your relationship. Best of luck to you Michael GhaemiDirector of Business Development 2081 Business Center Drive #175Irvine CA 92612949 630 3135949 313 0908 Fax866 529 9000

Oct 12th 2010
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JENNIFER URANGA (JennatAmerifirst)
#42 ranked lender in Arizona - 40 contributions

You can refinance either before or after. It is your choice between you and your soon to be new bride whether she is on the loan or not. If you need her income and or credit to help refinance then you can use it. Unless you are looking at refinance programs like the Refi Plus program from Fannie Mae or HARP from Freddie Mac then it gets tricky to add or delete someone from the loan while refinancing. If you live in a community property state your debt will combine when you marry. Creditors usually will leave this alone unless you are not paying a debt and they can't get to you. Then they will tag it to your spouses credit in hopes of recovering the payments owed. Jennifer UrangaCNN Mortgagewww.cnnmortgageaz.com480-751-3723623-202-4449juranga@cnnmortgage.com

Oct 11th 2010
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Crestico Funding (CresticoFunding)
#317 ranked lender in California - 340 contributions

I would advise on refinancing before the marriage. unless your state doesn't apply the common property rules. there are few advantage on refinancing prior to marriage as a single owner. please feel free to call or email me so i could go over the details. Houtan.Hormozian@Crestico.com 949 242 5215

Oct 11th 2010
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Joel Lobb (kentuckyloan)
#3 ranked lender in Kentucky - 192 contributions

Refinance now.

Oct 12th 2010
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Barrett Stokes (barrett)
#48 ranked lender in Texas - 25 contributions

I would wait until after the marriage ceremony, if you are in Texas it is considered community property state. If you are not in Texas well your soon to be bride is going to feel that the home is just as much hers so you might as well wait not unless there is a prenuptial.

Oct 12th 2010
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Rudi Hofmann (CaPortfolioLoans)
#282 ranked lender in California - 380 contributions

Your new bride can always be on Title. We are a community property state.I wouldn't wait much longer. Rates went to their lowest point last Thursday with a big bump Friday afternoon. Today we're back to Thursday's rates.There may not be much movement in rates for a while. The main item to consider when refinancing is your home's value. Another one or two foreclosures or short sales will harm property values within a one mile radius. Rates are based on loan to value.Something to think about. Call me if you would like to discuss this further. I'll also pull cops for you if you wish.Happy funding, Rudi

Oct 12th 2010
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