Real Estate Law
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Has wife been added to the deed as an owner?
What type of loan is it... a conventional loan, VA loan, FHA, etc.?
Ok, the bank is not going to make a loan to someone who isn't an owner of the house. So wife would have to be added to the deed as an owner if she is going to apply for a refinance loan to pay off the old loan or any potential assumption. But with interest rates at around 4% for a 30 year fixed, it would make more sense for you to add wife to the deed along with you, and then pursue a refinance of the loan with her being the primary borrower if she could qualify so as to reduce the interest rate. Then if you wanted to make extra payments to pay it off quicker, then you have the flexibility to do so.