If my brother adds me to the deed for his house can i refinance in just my name?

Catrice
His credit is pretty bad right now and the rate of his current loan is horrible. If I am able to refinance without his name on the loan, we can probably drop the interest rate 2-3%

Aurora
I have to say you, that there is a huge difference. The current mortgage company could also be upset that you are trying to do that. If you refi the loan, you will have to have all parties on title. So pretty much your brother will need to go on title. Also since he has the mortgage in his name, he would need to be the primary borrower.However you can do the purchase of the property and take him off title. Then you get the lower loan size and help your brother out. I know it sounds dumb, but its working out for a family I did business with in the past.

Haywood
yeah, there is a big difference between being on the deed and having the mortgage. The only thing I can say for sure is that no mortgage company will re-fi the other mortgage only in your name with another individual is on the title. You would have to be the only person on the title.

Sherly
Being on the Deed is different than being on the mortgage. You'd have to re-fi to do that!

Courtney
You can use your credit as well to refinance however...both parties on the deed must be present at the signing and sign to the new loan. Your credit will help, but his name will still be attached to the deed.