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Refinancing / Transfer Loan

Mortgage Library: Ask a Mortgage Related Question: Answers: Refinancing / Transfer Loan


My mom has a mortgage on our house. But the interest rate is horrible. I was wondering if it is possible to refinance, except for the loan to be in my name. Would this be possible without her 'selling' the house to me? I just would like to simply take over her loan, have it refinanced in my name, using my credit report.

Thank you so much for your assistance in this.



R., the only way to refinance the loan with her selling the house to you is to refinance it in her name while adding you as a co-borrower. The two of you together would qualify using the credit score of the primary borrower (whoever makes more money).

If your mother is over 62 years old, she may qualify for a reverse mortgage.

Please feel free to call me to discuss your options.

Rick Lanicek
PrimeLending, A PlainsCapital Company
17950 Preston Rd Ste 50
Dallas, TX 75252-5759
(972) 705-9721
(800) 256-0817 Ext 202
Mobile (214) 552-6125
eFax (972) 692-7260

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