Buying or Selling a Home/Mortgage Question?


QUESTION: Good morning, Ms. Bryan. I reside in Texas and am interested in purchasing a home for my granddaughters. I found several mortgage lenders to which I can apply, but before I go forward, I was wondering if they would be willing to provide assistance for someone who wants to put the home in their names. Is this possible? Thank you.

ANSWER: Hello;
This is something that you can certainly discuss with the lender. Laws require different things in different states; also, there are constant changes to lending rules.  It is always best to discuss your intentions with the lender first.  You should also be aware of the tax ramifications of gifting a home to your granddaughters.

After discussing with the mortgage lender, check with a closing attorney to find out the best way to do this. If the lender wants your name on the closing documents and deed, the closing attorney will have to advise you how to either add your granddaughter's names or remove yours.

Best wishes,
Jessica Bryan
Managing Broker
House to Home Realty Services

---------- FOLLOW-UP ----------

QUESTION: Thank you so much, Ms. Bryan! I have a quick follow-up question, if you don't mind.

As the borrower and the person paying the monthly mortgage payment, will my name need to be on the deed?

You're welcome.  To answer your follow up, I have heard both yes and no.  I can only say, that if your lender requires your name to be on the deed, it can be removed through a quit claim later unless that is not a legal option in your state.  That is why I thought it would be best to consult with a real estate attorney.

Buying or Selling a Home

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Jessica Bryan


buying and selling process such as:
General questions from first time buyers
How to market a home
Why choose a REALTOR
How do I find a REALTOR
Should I consider buying or selling without a REALTOR--how much can I save
Should I remodel or move
How much can I expect to gain by fixing up my home before selling
Helpful tips when selling
Helpful tips when buying
finding a good mortgage loan
what is the difference between banks, mortgage bankers, and mortgage brokers
Questions from the general public, people thinking about getting their real estate license, newly licensed.
Fellow professionals who have interests in networking and how to get started
What is a market evaluation and how does it differ from an appraisal what are the different loan programs
services a REALTOR can perform
when to use a lawyer
when to use escrow
what are the regional differences in the buying and selling process
what is the MLS and how does it work
how can the layman access information on the web--listings and other information
These are just a few of the questions. I can suggest that if I am unable to answer a question I will refer the inquiry to a source that can.


Anyone who is in this business and who dedicates oneself to professionalism has continued to take classes and along with it,additional credentials, awards and honors. I can list a host of them, but my greatest accomplishments happen to be those of getting first time buyers (who didn't think they could afford to buy a home)into a home of their dreams. The look on their faces when I hand over the keys is worth all of the hard work.

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