cancel
Showing results for 
Search instead for 
Did you mean: 

Name on Deed but not Loan

tag
PixieQueen80
Frequent Contributor

Name on Deed but not Loan

Is it possible to have someone on the deed of a new home purchase and not the loan if you are not married?

Starting Scores (7/26/2010): EQ 517; TU 508; EX 527 (lender)
Scores Along the Way (11/4/2010): EQ 542; TU 547; (11/8/2010) EX Plus 641
Scores Along the Way: (4/15/2011): EQ 516; TU 622; EX 585 (lender)
Scores Along the Way: (8/25/2011): EQ 617; TU 627; EX 625 (lender)
Scores Along the Way: (11/28/2011): EQ 617; TU 645; EX 667 (lender)
Current Scores: (8/9/2013): EQ 634; TU 662; EX 694 (lender)
Closed on a Home: 12/30/2011 Goal Scores (8/25/2014): 700 club
Message 1 of 2
1 REPLY 1
Lel
Moderator Emeritus

Re: Name on Deed but not Loan


@plewis80 wrote:

Is it possible to have someone on the deed of a new home purchase and not the loan if you are not married?


Anyone can be added to the deed of a home - father, mother, child, fiance/e, trusted mechanic.  I'm not certain whether they can be put on the deed at the time of purchase, but they can be added to the deed after the fact.

 

Keep in mind that having other parties on the deed creates a little more work when it comes to refinancing or obtaining a home equity loan.  In order to make these financial moves, all persons on the deed have to agree to the transaction.  For example, if you want to take out a home equity loan to pay for college but someone else on the deed thinks that this is an inappropriate use the home's equity, then I don't think it can be done.

Message 2 of 2
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.