Posted on: 21st Dec, 2009 10:01 am
My wife purchased a home before we were married. I am not on the loan or title or deed. She has since went part time at work and cannot get approval for a refi.
I would like to aquire my own loan and purchase the property from her.
Can I do this? If not, how long do I have to be on the title to qualify for a refi?
I would like to aquire my own loan and purchase the property from her.
Can I do this? If not, how long do I have to be on the title to qualify for a refi?
you're allowed to be co-borrower. if she can qualify with you as a co-borrower then you should be able to refinance now. if she wants to be removed from the loan, it will be required that you're on title anywhere between 6 months to a year (depending on the investor). if you're looking to purchase the home, you would have to qualify yourself. do you have money to put down.how is your credit? regarding downpayment, if you're a veteran, you might be eligible for 100% financing. usda also offers 100% financing. fha's minimum requirement for down payment is 3.5%. that might change is 2010.