Forgotten Your Password?

Need to Register?

Question Icon

Sample letter for adding a coborrower to my mortgage

Can I get a template/sample letter explaining what this should look like? Thanks! by manreno00782179 from Blackstone, Illinois. Mar 30th 2015 Reply


Kenneth Kopper (KenKopper)
#19 ranked lender in Maryland - 542 contributions

The letter of explanation should address whatever reason you are adding a co-borrower. Without knowing the exact scenario, it is difficult to advise what the letter should contain but your Loan Officer should be able to assist in dertermining what type of information the underwriter is looking for the letter to contain.Dont overthink it, typically a sentence or two will suffice unless the scenario is overly complicated.

Mar 30th 2015
1
0
William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,722 contributions

Every scenario is different, but a letter starting like "To whom it may concern".. and give 1-3 sentence explanation as to why your adding a co-borrower.. There really is no wrong answer, so don't put too much thought into it.. if your having a problem writing it, call your loan officer and ask him/her for their assistance.. 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

Mar 30th 2015
1
0
Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,240 contributions

Are you talking about adding someone before you buy the home? I've never needed a letter, probably depends on the lender but brief and signed is about all that should be needed. If you mean after the loan closes I don't thhink that is possible without refinancing the home.

Mar 30th 2015
0
0
Jericho Cherry (Jerichocherry)
#56 ranked lender in Virginia - 1,107 contributions

You should check with a local Loan Advisor to help you with it.

Mar 30th 2015
0
0
Subscribe to our news feed.