What others mentioned below still apply as to the loan documents.
So, the home would go into whom evers name is on the contract, the signer to the NOTE becomes the person responsible for the financial burden, but the mortgage - which is the financial tool used by the bank you are lending from, to sell your loan to another financial institution (which all banks do in order to replenish their funds, so that they can make more home loans) is in both spouses names.
If you were to default on the loan and go into foreclosure, the person on the NOTE is held directly responsible, not the spouse who signed the mortgage.
There are finance options for you, but you will need to speak with a lender directly about getting pre-approved. Below are three GREAT finance professionals I highly recommend.
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Terence Trombetti â€¢ RealtorÂ®
Gulf Coast Realty Network
4002 Del Prado Blvd. S.
Cape Coral, FL 33904
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Direct: (313) 373-1548
Cape Coral Mortgage Company
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Direct: (239) 263-9921
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Best of luck!
If one of you is not going to be on the mortgage documents then they should not sign the purchase agreement but can be listed on the Deed. You should speak with your agent and/or attorney or mortgage lender if you're not certain.
No only the one applying for the loan has to sign the purchase contract.
Kirsten S. Prizzi
AC Global Property Management Lee County, LLC
FL Lic Real Estate Broker
Immobilienfachwirt / Immobilienmakler
Residential & Commercial Real Estate
Location is just the beginning!
Alliance Realty Group
"Chosen Best in Client Satisfaction 2006-2012" By Gulfshore Life Magazine
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