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I bought my house before marriage and had mortgage and title deed just on my name. I am planning to refinance my mortgage, and I have noticed that there are costs associated with the title. Since I am married now, I would like to add my wife to the title and the mortgage. Will there be additional costs adding her?

Edit: I live in VA. She has the same credit score, rate wise, her score will not have any impact on the refinance.

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    Are you refinancing to add her to the mortgage or just adding her to the title? Probably just a minimal cost to file a new title but if you're refinancing the costs should be the same either way. – D Stanley Jul 6 '17 at 18:23
  • Also consider a living trust, especially if you have kids, need a will, and have some assets and savings. If you're going to refinance and re-title, consider setting up a trust at the same time. If you don't have kids yet, ok to wait until later. A will is still a good idea. – Rocky Jul 6 '17 at 18:31
  • Your location would help provide an accurate answer. The more important thing is what is the status of her credit? Will adding her to the refi hurt your rate or rating? – Pete B. Jul 6 '17 at 20:56
  • @DStanley I am refinancing to get lower rates. – ajp Jul 7 '17 at 19:14
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Adding your wife to the title may or may not have a cost, depending on your locale. Contact the mortgage lender to find out. I would imagine in most cases if they're filing a title for the refinance, it won't be an increased cost, but definitely ask them.

Adding her to the mortgage may also have a cost: depending on her credit history and income, it may increase or decrease the interest rate you receive. This also may depend on the state.

  • My unemployed, unemployable (she had no work visa at the time) wife had a better credit rating than I did so adding her to the refinance improved the interest rate a little. Go figure. – Peter K. Jul 7 '17 at 21:04

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