Change
Ownership
Change Property Ownership
What is the Benefit?
When two or more people hold title together subject to a mortgage and one of them wants or needs to be removed from title, they must also be removed from the loan. A refinance transaction is the proper way to remove or add a party from the title and the loan. Below are some examples of when a refinance is appropriate:
A homeowner wishes to remove a cosigner from title and the mortgage because they now qualify on their own. A cosigner is happy to oblige since they will no longer be obligated on the loan. A refinance properly accomplishes all parties’ goals by removing the cosigner from title and the loan.
A beneficiary inherits a property and wishes to refinance in order to put the title and any loans properly into their name. They may also wish to pull cash out in order to buy out any other beneficiaries like siblings, etc. A refinance is the proper transaction to achieve the above.
As part of a voluntary agreement or subject to court order, a spouse, ex-spouse, or partner is to be removed from title and the loan. A refinance is the proper transaction to achieve this.
In some cases, homeowners wish to add another party to the loan for various reasons including:
Adding a cosigner to help qualify with a refinance to lower the rate, monthly payment, or to pull cash out.
Adding a family member to the loan and/or title of the property for estate planning purposes. This can include placing the title of the property in a trust and having the mortgage reflect that the trustees are the borrowers.
A homeowner wishes to add their spouse or significant other to title and/or the loan.
What Will My Monthly Payment Be?
No Credit Check
No Application
No Obligation
What Will My Monthly Payment Be?
No Credit Check
No Application
No Obligation
No Credit Check
No Application
No Obligation
Start Today, Close Your Loan in 10 Days
See how simple it is. Get a quote in minutes, loan estimate in 2 hours, and close in about 10 days!
Call (800) 439-6005 or Complete qualifier form to get started
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