Adding a Borrower to an Existing Mortgage
If you have a mortgage and you would like to add an additional borrower, you may have some difficulty.
Typically, a co-borrower or co-signer is required to be present at loan origination. Since the loan already exists, you will need to refinance the mortgage in order to add an additional borrower's name. The new borrower's credit will be reviewed and will have to be approved in order for them to co-sign.
It may help if the individual has made direct payments to the lender to cover the monthly obligation from time to time. If this is the case, it may be easier to create a new loan with their name.
It is important to understand that adding a name to the mortgage is not the same as adding a name to the title deed. That means while someone's name might be listed as a person who is financially responsible for the repayment of the loan, they are not automatically granted rights to the property involved. Adding the name to the title deed is a completely separate process.