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While buying a home with a loved one might seem a good idea at one point, there may come a time when you go your separate ways. If that happens, you’ll need to get out of your joint mortgage — the one you applied for and shared with the other party.
This might be necessary in divorce or separation or if you and another loved one inherit a home and mortgage together.
Either way, there are options. A real estate attorney can give you the most personalized advice for moving forward, but generally speaking, here’s how to get out of a joint mortgage.
Can you remove someone else from a mortgage without their permission?
Yes, you may be able to remove someone else from a mortgage without them knowing, but it depends on your loan and lender. The process may require refinancing the loan into only your name, or in some cases, you may be able to do a loan assumption, which transfers the loan into your name only. Modifying your loan terms may also be an option. Always consult a real estate attorney if you’re looking to remove someone from your mortgage with or without their permission.
Can I remove my name from a mortgage?
The answer depends on how you’re attached to the mortgage. Did you actually apply for the loan with the other person, intending to own the home together? If so, this would make you a co-borrower. Or, did you act as a co-signer, simply aiming to help a loved one more easily qualify for a loan of their own?
Here’s how to get your name off a mortgage, depending on which camp you fall into:
If You Are a Co-borrower
If you’re a co-borrower, the other party needs to refinance the mortgage into their name only. This requires a new application and credit check, and they need to prove to the lender that they can afford the monthly payments on their own. It would also replace the loan with a new one — and so a new interest rate based on current market conditions. This may not be attractive to borrowers with very low rates on their current loans.
Selling the home is another option and would give both of you a fresh start, or you can ask your lender about other options. They may allow you to modify the loan terms and transfer ownership, or your co-borrower could explore a loan assumption (more on this later).
If You Are a Co-signer
If you’re the co-signer on a loan, it may be easier to take your name off the mortgage. Refinancing would still be an option for the other party, or you can ask the lender for a co-signer release. Some lenders will allow this if the primary borrower has improved their credit score or finances enough since initially applying for the loan or if they’ve made a certain number of on-time payments.
» MORE: See today’s refinance rates
How to Remove Someone from a Mortgage Without Refinancing
Refinancing is the most common way to remove someone from a mortgage, but there are other strategies you can explore too. Here are some of the less-used tools you may want to consider:
Loan Modification
You could use a loan modification to remove a co-borrower. With a loan modification, you can change the most basic terms of the mortgage — the rate, length of the loan, or who’s on the mortgage. Most lenders offer these if you’re going through a financial hardship, but a divorce or separation may also qualify you.
Loan Assumption
In a loan assumption, one person takes over a mortgage debt. This option is only available on specific government-backed loan programs — VA, USDA, and FHA loans. Even then, it’s up to the lender’s discretion.
Quitclaim Deed
In addition to one of the above strategies, you need to do a quitclaim deed. While loan modifications and assumptions can remove someone from a mortgage agreement, a quitclaim deed removes them from a home’s title. Your attorney can help you file this and ensure you have full ownership of the property.
Sell the Property
It may not be ideal, but selling the property attached to the mortgage is a sure-fire way to cut ties. You could then pay off the mortgage loan using the sale proceeds and use your portion of the remaining funds to start anew.
How to Refinance to Remove Someone from a Mortgage
However, if you opt to refinance your mortgage to remove a co-borrower or co-signer, the process is pretty straightforward and looks like applying for your original loan.
Here’s what you’ll need to do:
- Choose a lender (it doesn’t have to be your current one), and fill out an application to refinance.
- Submit financial documentation, like W-2s, tax returns, pay stubs, and more.
- Await the lender’s property appraisal, used to confirm your home’s value and how much you can borrow.
- Pay your closing costs, and sign the final paperwork.
Once this happens, your new loan will be used to pay off your old one, officially replacing it. You then make payments on your new mortgage moving forward.
Cost of Removing Someone From a Mortgage
The cost of removing someone (or yourself) from a mortgage depends on your chosen route. See below for how the various options compare in price.
| Method | Cost |
| Refinancing | 2-6% of the loan amount |
| Loan assumption | Depends on the loan program but may be 0.5% to 6% of the loan amount |
| Loan modification | No cost |
| Quitclaim deed | Typically $100-$400 |
Talk to a real estate attorney if you’re unsure how to proceed with your mortgage. They can help you make the best decision for your specific mortgage agreement and financial situation.