FHA Streamline - Removing a borrower
The husband has a 700 credit score but the wife has under 600. The refinance must be a streamline without an appraisal because the value has dropped significantly. Is it possible to do a streamline refinance and remove the wife without an appraisal? by jdcook_316_673 from Colts Neck, New Jersey. Oct 24th 2012
Bert Carpenter (BertCarpenter)
#38 ranked lender in Arizona - 2,431 contributions
As long as the remaining borrower can support the entire debt load of both of them, yes. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950
micahel giangreco (michaelg)
#85 ranked lender in New Jersey - 1 contribution
Yes, we do FHA streamlines without appraisals and would be able to take your wife offf at closing. email me at mgiangreco@gatewayfunding.com, I am the branch manager and we can help you out.
Linda Wintersteen (Linda123)
#64 ranked lender in Arizona - 1,256 contributions
YES , as long as the one borrower can qualify for all of the debts.. linda yourloanpartnerforlife@live.com
Phil Dumouchel (PhilDu)
#32 ranked lender in South Carolina - 2,249 contributions
it's possible, but as Linda said, most lenders will required you to qualify for the payment with just your income.
Ron Wohlfarth (RonWohlfarth)
#34 ranked lender in New Jersey - 65 contributions
Good Morning JDcook...This is not something that can be answered until more details are reviewed...Please contact us at 856-853-1234 or e/m Money@RonWohlfarth.comThanks Ron
Derick Condron (rightstartoregon)
#30 ranked lender in Oregon - 598 contributions
Yes you can remove a borrower but the file will have to be manually underwritten by an UW and the husband will have to qualify on his own. If you are in a community property state you will be counting the wife's liabilites as well.
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