Joint HELOC if only spouse is on deed?

4 Replies

My husband and I are looking to get into investment property and would like to take a HELOC out on our home to do so. I moved into the home he owned when we got married but my name is not on the deed. I have better credit and income, however, so we would like to take the HELOC out jointly to get a better rate. Can we take out a joint HELOC if only his name is on the deed to the house or do we have to go through the process of adding me first? Thanks in advance!

Lisa, good question, I'm in a similar situation with house in my name, but we are looking to apply for HELOC jointly. I didn't even think of it until I read your post.

I did find this:


If your credit isn't the best, you may get a better housing deal if someone co-signs the loan with you. A cosigner can be your spouse, your partner, a relative or a friend, provided they have good enough credit to guarantee the loan. Co-signers assume responsibility for the mortgage along with you: If you default on the loan, the lender can go after him for the money. Even though the co-signer shares responsibility for the payments, his name does not appear on the deed.

Hi Ken.  Thanks for this!  Looks like it should be fine then.  I will be applying this week and if I run into any problems I will update this thread.

Hi Lisa, did you ever find a solution to this question?  If so, I’d like to hear your experience with it.  Looking to do the same with my wife’s house with me not being on the deed or mortgage.  Thanks!