we are about to relocate and we have a family member who is in need of a home? can we not just transfer the loan into there name?

Probably No!. I say probably because I don't know what type of loan you have, but for conforming loans, some are not assumable at all and others are not assumable without qualifying. If you transfer ownership out of your name, and put it in someone else's name, then the lender can call the note due and payable. If your family member has good credit, then depending on the type of loan, it's possible they can do a "qualifying assumption" of your existing loan. They would still need to go through a complete loan approval process and be fully underwritten, and as long as they meet all lender guidelines, they can take over your loan... but you cannot just deed the property to them without the risk of the lender calling the loan due.. 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 NMLS# 226347

I agree with William. The individual will still have to qualify under the Lenders guidelines.

Check with your mortgage holder to see if it can be done.