joint mortgage

By joint mortgage I'll assume you mean borrower co-borrower (husband-wife, bf-gf, two investors etc) and yes, there can be two borrowers on all loans. The only requirement would be that both parties would have to qualify for the loan; good credit, assets, job history etc. and the lender will typically use the lower FICO score of the two borrowers as the guideline.

Depending on the type of loan co-borrower may also have to occupy the property.

You can have multiple borrowers on a loan, they all have to qualify with good credit, income, assets, ratios, etc... Some loan products will allow for Non-occupying co borrowers, and other loan products state that you all have occupy the home.. 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. 480-287-5714 WilliamAcres.com

The short answer is yes. All loans have the ability of having more than one borrower. The relationship between the borrowers and the planned use for the property can influence if the proposed borrowers can be joint on a particular loan. To get a better answer, please provide more detail as to what you are trying to do. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com 888-889-9950

All of the responses you have received are great. The only information I could add is in the case of a refinance: If the co-borrower is a spouse: They would sign dower if they were on the new loan or not. They have dower rights meaning they sign acknowledging any mortgage/real estate transaction done in the State of Ohio with/by/for their spouse By law a transaction cannot close without the other spouse's knowledge/signature. For a co-borrower that is not a spouse: If you were to refinance your spouse (if you were married) and the co-borrower would need to be present to sign at closing for your refinance. The only way to avoid having a non-spousal co-owner present at closing is a limited, real estate, power of attorney for someone to sign for them OR for them to waive their rights to the property entirely/forever with a quit claim deed. ** If I can help in any way let me know. ** Kim Lawson * First Priority Financial * Medina, Ohio * T: 888-659-3848 * NMLS: 5610 * OHIO:LO:004495.000