If the lender puts you on the mortgage, but not on the title, you can add your name to the deed later on. However, this might cost you addional money (tax stamp, depending on the county).
This has to do with the transfer of title from just your husband to the both of you.
This "adding" should be done by an attorney or the title company that will be doing the closing (could be cheaper).
Hope this helps,
Beachfront Realty, Inc.
The buying process is one that is best begun by meeting with a lender and determining which loan program is best for you and the amount you can qualify for. People can qualify for a mortgage based either on combined or individual earnings.
Seeking a loan is like shopping for anything else....and is best done by shopping around to determine the best deal for you. We highly recommend speaking with several loan agencies. This should help you to understand the process and give you an idea of what the current local rates are. One of the best places to begin is where you are currently doing your banking. But remember, don't commit until you have considered other options.
You are in a great location for identifying value. In the North Port/Port Charlotte area, there are presently any number of nice homes priced under $100,000.
Michael Saunders & Company
Terry McCarley, RealtorÂ®, CDPE
FLORIDA MORTGAGE BROKER responds...
Regardless if you're on the loan note/loan or not, if he buys a Primary Residence in FL, you'll have equitable title and own the property too.
You may want to consider #1, #4, or #5 below
1) 100% LTV- USDA
2) 100% LTV- VA /can pay off debts on purchases too
3) 99% LTV- FHA (select prop,)
4) 97% LTV- No PMI/MI and avoid the 1.75% FHA FEE
5) 95% LTV- No PMI
6) 95% LTV- CONDO purchase
7) 90% LTV- No PMI-2nd Home
8) 90% LTV- JUMBO w/cc
9) 85% LTV- NO PMI to Super Jumbo
10) 80% LTV- Invest. Prop.
STATED INCOME ALT loan programs: http://www.StatedIncomeAlt.com
11) 80% LTV- FIX nâ€™ FLIP Invest. Prop.
12) 80% LTV- NEW- Stated Income Alt
13) 75% LTV- NEW- Foreign Nationals- Stated Income Alt
14) 75% CLTV-NEW- after Short Sale, BK or Foreclosure
15) 70% LTV- Soft and Hard Money -Stated Income Alt
17) 55% LOT/VACANT LAND LOANS (by case basis)
COMMERCIAL PROGRAMS (many programs available nationwide)
Pro Option Mortgage/Florida
Ph: 888 662 4404
Prior Service U.S. Marine Corps
That said your husband needs to speak with a mortgage lender as I have no idea whether he actually qualifies for a mortgage.
Good luck and happy house hunting.
Your question can be answered by a Florida mortgage broker, accountant, real estate attorney and/or Title company. There are factors that influence the answers to your question::
Who qualifiies for the mortgage (You or your husband's income and credit or both of yours)
What will you use the property for: (Will it be your primary residence or will you use the property for either vacation or to rent as an investment)
Find all listed propeties and get valuable free information at
Call Your Florida "Go-To" real estate broker
Julie Rosenthal, Broker
Property Brokers International