Home Buying in Goldsboro>Question Details

Sinnc, Home Buyer in Goldsboro, NC

I recently married in North Carolina and would like to purchase a house without my spouse considered for mortgage approval. Is that possible?

Asked by Sinnc, Goldsboro, NC Mon Mar 28, 2011

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Quick answer: YES, it is possible. Tell your lender. I use Tony Ruff of New American Mortgage. Tell him I told you to contact him. All my clients are very happy with him. Your spouse will only have to sign the Deed, but the loan and other documentation is only in your name. As long as you have the income, should not be a problem.
Web Reference: http://www.tonyruff.com
0 votes Thank Flag Link Thu Mar 31, 2011
It could be possible based on state statues best confer your questions to either your Realtor, mortgage broker, or title company

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
0 votes Thank Flag Link Tue Mar 29, 2011
Congratulations on your wedding, I hope it was a wonderful event and I wish you many years of 'wedded bliss'. And how cool that you two are going to purchase a home. Yes, you can buy without your spouse getting mortgage approval. Talk to your lender though because there might be something that we don't know regarding your circumstances. And please, use a Realtor to help you with your home purchase. If you need a referral email me, I am in the Triangle.
Again congratulations......
0 votes Thank Flag Link Tue Mar 29, 2011
Absolutely. Bill and Cyndi are very correct and we often start the mortgage process with a couple and go to settlement with only one of the couple on the mortgage. The "rule of thumb" in NC is that it takes one to buy but two to sell. One person in a couple may purchase a property and have the mortgage in only one name, but both have to sign the deed when you sell. here again, be sure to check with your mortgage broker and attorney for specifics.
0 votes Thank Flag Link Tue Mar 29, 2011
The lender can consider only YOUR income and credit rating for a loan (say perhaps if her credit has some bruises) BUT she will still have to SIGN the Deed of Trust. In NC you can buy without your spouse - but you cannot mortgage or sell. Even if her name isn't on the deed. Talk to you lender and your attorney. They will explain it all!
0 votes Thank Flag Link Tue Mar 29, 2011
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