We are buying a home with my husband, he's got better credit, so only he's on the mortgage. He's telling me I have to give up my

Asked by Zsibri, Willoughby, OH Sun Aug 18, 2013

rights to the house for the loan to go through. We live in California. I feel uncomfortable not being on title.

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10
Steven Pawera, Agent, Los Angeles, CA
Thu Nov 7, 2013
Zsibri - I hope your husband conceded to all the correct advice the others posted - or how you hold title may not be your only problem lol.
0 votes
Gail Mercedes…, Agent, Beverly Hills, CA
Mon Aug 26, 2013
Zsibri,

In California if a married couple is buying a home but title only in one partners name. I would assume both spouses purchase is based on combined monies for down payment. But only one partner can qualify for the loan. The other partner would have to sign a quit claim on subject. Therefore, the title only in loan qualifying spouse's name. I can understand not wanting to give up rights to the home. CHECK WITH LENDER to see if both spouses can qualify. Verify ratios and qualifications based on one compared to both spouses qualifying for loan. I would check with more than one lender. It may take more time but is worth the effort.

If purchase closes with only one party on title can execute a grant deed putting both on title. That does not change terms of loan because original party is responsible for mortgage and cannot be modified.

Gail Mercedes Cole
Marina del Rey - EXP Realty
http://www.westlaestates.com/
310.853.9933
0 votes
Robert Chome…, , San Diego, CA
Sun Aug 18, 2013
Yes if you are not on the loan you cannot be on title. But right after you close you can go to the escrow or title company and have them add you to the title.
0 votes
Bea Artiglie…, Agent, Tarzana, CA
Sun Aug 18, 2013
you can have this all done through escrow. Talk to you bank. Contact me if you need a bank that will do this for you (bartigliere@yahoo.com). I can refer you to the one who did this for me.
0 votes
Zsibri, Home Buyer, Willoughby, OH
Sun Aug 18, 2013
Thanks for all the answers. I'd think the bank would still have a problem with transferring ownership aka putting my name on the deed after the purchase is done. As I'd have rights to the home, but no obligation. Any insight?
0 votes
Ron Schwolsky, Agent, Covina, CA
Sun Aug 18, 2013
What are his reasons for not wanting you on title? Whatever they are, something seems fishy to me.
0 votes
Bea Artiglie…, Agent, Tarzana, CA
Sun Aug 18, 2013
Correct, when he purchases the home you will have to sigh a quit claim deed. But you can be added right back to the deed after the purchase. California is a community property state that to protect the spouse. I just had to do it myself for a refinance of our property. No problem at all.
0 votes
Cindy Davis, Agent, San Diego, CA
Sun Aug 18, 2013
He may be speaking of what you need to do to get the loan to go through. Your husband can add you to title once he closes on the house. Discuss this with him...and make sure of his intentions.

Best of luck.
0 votes
Randall Ortiz, Agent, Sacramento, CA
Sun Aug 18, 2013
You can still be put on title, but if he has good credit and you don't, you may need to get the loan under his name only to purchase the home.
0 votes
Walter 'Skip'…, Agent, Brea, CA
Sun Aug 18, 2013
It is quite common for one spouse to purchase the home for credit reasons. You can always be added to title after the close of escrow (even though you are not on the mortgage).
Good luck,
0 votes
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