Posted on: 13th Feb, 2009 10:24 pm
My fiance and I are buying a home, but only my name is on the mortgage. Can her name be on the title? We are most interested in the first time home buyer tax credit. This will not be my first home purchase, but it is her first. What do we need to do to get this tax credit?
Thanks!
Thanks!
Hi, Yes she can get the loan/house just under her name is she qualifies for it credit and income wise. To get the tax credit you need to make it your main residence and live in it for 2+ years.
Hi SonPedroe',
msnover is right. As far as adding her name to the title is concerned, you can do that using a quit claim deed. However, since your name is on the mortgage, you may have to consult your lender before you can quitclaim to her.
msnover is right. As far as adding her name to the title is concerned, you can do that using a quit claim deed. However, since your name is on the mortgage, you may have to consult your lender before you can quitclaim to her.
sonpedroe, i dont believe you will have any trouble in purchasing this home in both your names. you need to check with a tax advisor to ensure that the full credit will be available - none of us who have responded to your query is in that category, i dont believe. that you owned a home previously may have an effect on your claiming the credit, but i cant speak to that myself.
