Husbands name is on the mortgage. He is not working can I refinance?

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My husband is injured at this time and not working. My name is not on either mortgage, can I refinance without him working or would I need to buy the house from him to get the lower rates. We are at 5.75 and 8-with ceiling at 18%. We have been in our home since 2001 and had a bankruptcy in 2008. What can I do to get lower rates with just me working?


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You should be able to refinance even though your name is not on the mortgage. The lender will ask for a verification of mortgage from your current lender.

Answered 6 months ago

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First, you name needs to be on the deed. Second, you will need written permission from your husband allowing you to refinance without him signing the loan. (Your lender should be able to provide this form for you.) Third, you will need to qualify for the loan based on your income and credit score.

If you can meet those requirements, then you will be able to refinance to get the lower rate.

Answered 6 months ago

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In addition to qualifying income and credit wise, you’ll also need sufficient equity. If you’re paying off a second mortgage that was not entirely used to purchase your home, it will be considered a cash out refinance. Conventional loans allow for loan sizes up to 85% of homes' appraised value on cash outs, FHA and VA loans allow up to 90% of the value. Of course, the more equity you utilize, the greater the risk of default. It is harder to obtain underwriting approvals on them compared with “rate/term” loans in which a current mortgage is paid off to obtain a lower rate and payment, or shorter term. More questions? I’d be glad to help, I write loans nationally. Thanks, Ted

Answered 6 months ago
Ted Rood
1298 6

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