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Can My Wife Refinance?

So, long story short. When i went through a divorce by credit was shot. I am recently remarried. I have a mortgage at 8 percent want to refinance, but I wont qualify. Is there any way my new wife can do it, she has great credit by DarriousB9388 from Jersey City, New Jersey. Oct 29th 2010 Reply


John A Soricelli Jr (John A Soricelli Jr)
#167 ranked lender in California - 151 contributions

If your wife has the credit and income to qualify by herself, and you are willing to place her on title, then we can help you refinance. We have rates as low as 3.400% with Interest Only payment options available. Please call me at 949-478-FUND(3863) so we can review your loan profile and determine if we can meet your goals. I can also be reached at JAS@ThinkJohnAJr.com. Sincerely, John Soricelli

Oct 29th 2010
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Brett Pehrson (brettpehrson)
#19 ranked lender in Utah - 228 contributions

Darrious, you've heard a few answers about how to refinance, but nobody has looked at it from the other direction. If you're wife is NOT on title, yet, there is no reason why she can't purchase the home from you, if she qualifies. Most lenders will have specific requirements/overlays for what we call "non-arms length" transactions, and will most likely restrict your "loan-to-value", but it's certainly worth looking into to see if it will work. Because you're married, you can gift her equity, if available, to help with this equity/down payment requirement. As long as everything is properly disclosed to the lender, there's nothing wrong with doing it this way. Best of luck to you!

Oct 30th 2010
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Nancy J Releford (nancyreleford)
#4 ranked lender in Tennessee - 233 contributions

The short answer here is if your new wife is not on title then no.

Oct 29th 2010
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Joe Shamie (Joe Shamie)
#4 ranked lender in New Jersey - 1,412 contributions

You could add her to title and wait 6 months. After that she could refinance.

Oct 29th 2010
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Joseph Hendizadeh (josephh)
#343 ranked lender in California - 29 contributions

There are several Investors who may consider adding your wife to title and keeping both of you on the loan in order to make it work. And you would not have to wait 6 months. If you like give us a call at 877-834-3340 and we would be more than glad to assist you with more information.

Oct 29th 2010
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Bob Wilson (Bob Wilson)
#165 ranked lender in California - 9 contributions

Can your wife's income cover the payment (principal, interest, taxes and insurance) and all of her credit debt and still be below the 45% debt to income? You can add her to title but most lenders want to see a time frame before they can do financing on the loan, usually 6 mos. or more. Remember they are not on your loan, just the title to you home.

Oct 29th 2010
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