How Do You Refinance As Joint Tenants?
Refinancing a home is a major financial decision. If you intend to refinance with a partner as joint tenants, there are certain procedures you must follow. There are also several options you must consider prior to adding a name to a mortgage loan. If refinancing as joint tenants, all housing decisions will need to be negotiated jointly. The process, once you find a lender, is carried out much the same way as a traditional refinance. Add the new person to the deed of the house. Nearly all mortgage lenders will not refinance a property with two people unless both parties own the house. In order to do this you need to fill out a quitclaim deed, have it notarized, and file it at your town or city Registry of Deeds. Pul copies of your credit reports. Most mortgage lenders look at the credit history of all borrowers. You’ll want to make sure the person who you are adding to the loan will not significantly affect the new rate and payment on the mortgage loan. A free copy of your credit report
