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Boyfriend and I have been togeter for long time and we got a house two years ago. He is the primary and my name is just an add on. WE have decided to split and boyfriend agreed to sign house over if I gave him the $ 5,000 he had put down on the house and I would have to pay for the closing cost. WOuld I have to put another down payment? WHat do I need to do to qualify? My credit is pretty good.Do I have to make at least 1/3 of the total price of the house?? ANY OTHER GREAT IDEAS OR INFORMATION WOULD BE VERY HELPFUL!

8 Thoughts on boyfriend might sign over house to me,IS THERE ANY MORTGAGE LOAN CONSULTANTS OUT THERE??????????PLEASE HELP!!!
  1. Reply
    noseitall
    February 2, 2014 at 7:41 am

    hi I’m a senior loan officer for a direct lending company and yes you may. email for info or call 415.533.1338 thanks and good luck

  2. Reply
    open4one
    February 2, 2014 at 8:38 am

    It depends on whether you are on the mortgage now.

    If you are not, then it probably has a “due on sale” clause which means you need to see a loan officer, and the first thing they want to see is your Contract, which means you need an attorney first.

    If you are on the mortgage now, (even if you did NOT sign the note) you may be able to make it work with him just signing over the property to you, but that’s a really bad idea from his perspective.

    Start with an attorney. You definitely need to get a contract so you don’t do a lot of prep work and then he changes his mind.

  3. Reply
    TYNISHA C
    February 2, 2014 at 9:17 am

    Hi I am a loan officer. Email me information.. tynisha_sellshomes4you@yahoo.com

  4. Reply
    monel J
    February 2, 2014 at 9:23 am

    HI” I M MORTGAGE CONSULTANT, I WORK FOR NATIONL LENDER CORPORATION (NLC OF NEW YORK INC).I WILL LIKE TO HELP YOU WITH YOUR NEED, YOU MAY CANTACT ME 516 322 2236 ASK FOR JUDE OR EMAIL AT MONEL692001@YAHOO.COM. WE ‘R NATIONWIDE LENDER .

  5. Reply
    J O
    February 2, 2014 at 9:25 am

    I am not a loan consultant but I am a Mortgage Banker. My firm is amongst the 5 largest private mortgage banks in the mid-west, but loan everywhere. Feel free to send me an email, I am more than will to look into your situation from a banking perspective

  6. Reply
    jeff s
    February 2, 2014 at 9:30 am

    you got a number of responses and you are going to have to pick someone to speak to. so let me try and put my best foot forward.
    first, there is no such thing as an add on, if you co-signed the mortgage and/or are currently on the deed you are to say the least part owner of the house. therefore, you do not need to have a down payment to “buy him out” of the house. you simply need to refinance and take his name off the deed (of course with his consent). now …
    based on your basic information you should be able to. there are many different mortgage programs that will probably help you accomplish what you want. when picking the right lender, not only should you be concerned about rate, points and fees but the service and experience they are going to be able to provide you.
    i have been in the real estate and mortgage business for 22 years and i am a nationwide direct mortgage lender. you can call me anytime in my office at 1-877-543-3711 or on my cell phone at 917-796-8498. if you prefer to email me you can do so at jstern@lendamerica.com
    good luck

  7. Reply
    iinakamura
    February 2, 2014 at 10:02 am

    FYI

    Your property taxes will go up if he transfers it to you as tenants in common. I sugesst you be added as a joint tenant because that won’t cause a reassessment initially, only at the deat of the joint tenant,

    You might need to be seasoned to refi the place: ie, be on title for more then 6 months.

  8. Reply
    kthor
    February 2, 2014 at 10:43 am

    if he’s deeding it over to you ..no more downpayment – just what you said, pay him $ 5k, the cost of Title and escrow and it’s yours.. well plus your current mortgage

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