Can my dad refinance such that I can assume the mortgage?

Your dad cannot refinance if he's not working.. He can sell you the home, and you would have to qualify for a mortgage on your own, but that's the only way.. 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

Yes, depending on the amount of equity currently in the property. Since you are not currently on Title to the property it would be considered a Purchase transaction. You could "purchase" the property from him with a "Gift of Equity" where you wouldn't be required to put anything down. In fact, the "seller", your father would state that he is paying all your closing costs as a Seller Credit. It would be treated as a typical purchase transaction where you would need to qualify for the loan. He should check to see how this "Gift of Equity" could affect his financial planning or tax ramifications. Call me if you have questions. Scott Kinne -571237-6241 VA,MD, DC, WV

He can't refi because he's unemployed, he would have to sell you the home. The only type of assumable mortgages are VA loans which have to be assumed by another veteran.

Please call me to discuss your situation. Rick Nash 443-994-3132.

Please call me to discuss your situation. Rick Nash 443-994-3132.

If your Dad is 62 or older he may have enough equity to qualify for a Reverse Mortgage. There are no income or credit qualifications and there would not be any payment required so that would take the burden off you. If you have questions call me at 410-977-1356.Jay Rosenthal

the options have been covered above...

I have handled situations exactly like this and you would to purchase the property from your father as a non arms length transaction and he would be able to gift you whatever equity (if available) to meet the loan to value requirements. As with all loans, you would need to qualify as far as credit and income as well.Feel free to contact me to discuss your situation in greater detail.

You may be able to be added to the deed and refinance if you can document that you have been making the payments. This will only work if there is equity in the property, and will depend on the type loan you get. Might possibly be able to handle it as a 2nd home if you stay with your dad sometimes. Refinancing is a better option than treating it as a purchase unless you live in the home. I lend in Maryland if you'd like to discuss. pdumouchel@primelending.com or 843.619.6025

He can't refi because of his employment status. You could purchase the home from him if you qualify