Home Buying in 19301>Question Details

Alert_Buyer, Home Buyer in Hockessin, DE

In Delaware State - house buying (existing house) contract:

Asked by Alert_Buyer, Hockessin, DE Mon Aug 31, 2009

Is it possible to add your wife's name to the contract if she does not work nowr , but has good credit history? My agent said - "her name cannot be added because - needs mortgage preapproval with her name…. Not needed. DE is community property law states that . She owns 50% anyway."

What happens later if her name is not added now? May be added her name to the title? is she entitled to sell the house in my absence? Appreciated.

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Her name can be added, many times a husband and wife buy a house and the wife is a homemaker without a job. The mortgage will take her into account but as she has no salary it will affect how much you can borrow obviously, but if you can afford the house without her then it should have no impact. And she canbe on the title as well.
1 vote Thank Flag Link Tue Sep 1, 2009
Your wife doesnot have to be working for her name to be on the contract and on the title.Yes, She will not get a mortgage to her name if she is not working.

Shehla karim
Weichert Realtors
Paoli, PA 19301
Cell:610-659-4869
1 vote Thank Flag Link Mon Aug 31, 2009
If you qualify for mortgage on your own, there is no point in having your wife on the note. Note is a contract that you sign at settlement, promising to pay the mortgage.

Where as, you definately need your wife's name on the purchase contract inorder for her to be on the deed.

I hope it answer's your question.

Shehla Karim
Weichert Realtors
Paoli, PA 19301
Cell: 610-659-4869
0 votes Thank Flag Link Tue Sep 1, 2009
Can I add my wife to the title if she does not have a job? She had job a few months ago and her credit histoiry is excellant (all the three scores).

Since she does not have job now, are you saying that a lender may see it negatively and give us not a good rate if we add her to the contract to buy a house?

What is the best way for us? Do not add her to the contract without loosing and add her to title before finalyzing?
0 votes Thank Flag Link Tue Sep 1, 2009
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