Question about HELOC and only one spouse being on 1st and another spouse on the 2nd
Hi! I’m looking to do a HELOC or equity loan to pay off an existing heloc (177k) and pay off private student loans/credit card debt. Total initial draw 300k
Home value is $1 mil,first mortgage is 400k. Looking to get 350k on loan so there’s wiggle room if needed.
My question is first mortgage is in my husband’s name only. I’m on the deed but not the original loan. Can I get approved without him being on the HELOC? He’s aware of all this so I’m not trying to hide,just looking to see if I can carry the second without him. Or since the first is in his name is he required to be on the second line?
u/Fit_String155 — 6 days ago