What fees are involved in taking your name off a joint mortgage with a child?

You would need to refinance the loan into your child's name only. We offer no closing cost loans, let me know if this would interest you. Keep in mind the child would need to qualify for the loan on his/her own.

To remove yourself from a mortgage, it needs to be paid off, either by refinancing, selling or just using your funds to pay it off, but you cannot simply just remove your name from the loan. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

The fees would be minimal if the lenders would allow it. However, you are a co-mortgagor on the note with your child. This means you are personally liable for the mortgage along with your child. The only way you can remove yourself from this liability would be to refinance. This means your child would have to fully qualify for a new loan that would enable the existing loan to be paid off and extinguished thereby removing you from liability. The only other means of removal would be by end of life circumstances.

(Adult) child must qualify by income and credit to refinance by him/herself.