Posted on: 09th Apr, 2009 11:32 pm
I am planning to buy a house & my parent willing to offering me by applying the mortgage under their name but I am responsible for monthly payment & the deed only with my name. Will bank allow to issue mortgage loan even the borrower name is not list on the deed??
Hi
It is not possible to have a loan in a person's name who isn't listed on the title to the property. The lender would not allow a loan in your parents name unless they're on the deed to the house.
It is not possible to have a loan in a person's name who isn't listed on the title to the property. The lender would not allow a loan in your parents name unless they're on the deed to the house.
Hi, Yes that is correct.... If your parents would apply for loan they would need to be put on the deed/title then in part they can add you to the deed. If they are not on the deed/title then you cannot be on it unless your are the one getting the loan.