Yes. If you’re married and getting a mortgage on a property that you and your spouse will both be living in, most mortgage lenders will prefer both applicants to be named on the mortgage; but it’s possible to get a single mortgage when you’re married and still end up with the best interest rate available.

Do both owners names need to be on a mortgage?

Only the owner applying for the mortgage loan needs to be named on the mortgage documents. Both owners, however, will be on the home’s deed, which serves as proof of ownership.

Can I refinance without my spouse?

If you’re the sole owner of a house, you can refinance without your spouse’s signature or consent. If you own a property together and both of you want to remain as borrowers on the refinance loan, then your spouse will need to apply for and sign the refinance documents.

Can you co own a house with only one person on the mortgage?

No – you can have only one spouse on the mortgage but both on title. Both owners of the home, typically being spouses listed on the deed, do not have to both be listed on the mortgage.

Who is liable for the mortgage during a separation?

The person liable for paying the mortgage during a separation is the person whose name appears on the mortgage note. If both your names are on the mortgage, then you are both legally responsible for making the payments. Even though you’re separated, you need to continue to make your mortgage payments on time.

Can you refinance in only one person’s name?

You may refinance in only one person’s name. Most lenders will want to make sure that both you and your husband have been on the title of the property for six months. The reason for the seasoning requirement on the title is to avoid people transferring the title to keep a house out of foreclosure.

Who is the owner when two names are on the mortgage?

On the bright side, some lenders may waive it to add a family member. In the event you opt for two names on the title and only one on the mortgage, both of you are owners. The person who signed the mortgage, however, is the one obligated to pay off the loan.

Can you refinance with your husband on the title?

The short answer is yes. If you and your husband are both on the current deed you can refinance with either of you on the mortgage note itself. Both of you would remain on title (deeded owners).

Can a mortgage be refinanced with only one spouse?

However, what we see as lenders more often is that if both spouses are in title, but only one spouse is on the mortgage, there may have been a credit issue at the time the original mortgage was funded. As an example, your spouse had a bankruptcy when you were purchasing and you qualified for the mortgage with only one income.