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Can you refinance loan from husband into wifes name if she has no job. Rhode Island

Refinance the loan out of husbands name into wifes name only.
By mislilwolfz377 from RI Dec 17th 2014
Reply

A verifiable source of income is required on all loans. Income can come from other sources beside W2 income. Examples would be Social Security, Alimony, Child Support, Investment Income, etc... The question all Banks and Lenders are going to ask is, how will she pay for the mortgage?

Dec 17th 2014

If she is over 63 you can do a reverse loan if she has equity in the home. If she is not above that age. Not going to happen without a co signer or someone who can make the payment. If she get's a divorce and can show court order spouse support and a few payments made to her they can use that as income but she will still need to show it's enough to pay her bills and home loan. No money no honey

Dec 17th 2014

Hi, as our friend MR sthaggerty said so nicely, How will she pay her mortgage ?

Dec 17th 2014

A source of income is required in order to ensure she will be able to make the mortgage payments.

Dec 17th 2014

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