- 1). Contact your lender. Review your mortgage documents and ask your lender if it charges fees or makes the loan balance come due with a transfer of ownership. Get permission in writing from your lender to add someone to your mortgage and alter the deed.
- 2). Instruct the person you want added to the mortgage to prepare all the documents he will need to apply for a mortgage loan. This includes his credit score and evidence of his debt-to-income ratio, like pay stubs and bill statements. Do the same for yourself.
- 3). Contact your lender and other lenders to obtain quotes on what your payments and interest rate would be if you refinanced with someone else. Provide your verification documents to the lenders for yourself and the person you want added to the mortgage.
- 4). Pick a lender with whom to refinance your mortgage. It would be advantageous to you if the lender with whom you already have the mortgage provides the best deal, but this probably will be the exception rather than the rule.
- 5). Instruct the person you want added to the mortgage to go through the mortgage loan application process with you and the lender you've selected. Negotiate your loan with your lender during this step.
- 6). Schedule the close for the mortgage loan. During this step, your lender will finalize your mortgage terms and add the additional person to your deed.
- 7). Pay the fees associated with the mortgage refinance.
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