How much does it cost to add a name to a mortgage?

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A person just got married and wants to add her name to the title of the property and to the mortgage—-how much would that cost in New York State?

2 Comments
  1. Reply
    Leah Cross
    January 26, 2014 at 2:19 pm

    I think it depends of your mortgage

  2. Reply
    DON W
    January 26, 2014 at 2:22 pm

    Adding a name to the mortgage requires the approval of the bank that holds the mortgage. If her credit is okay, it will likely be approved, but that’s not guaranteed. Any charge for that is up to the bank. It’s possible that a whole new mortgage agreement will be needed.

    There’s also the question of adding the new wife to ownership of the property. That takes a lawyer and will cost several hundred dollars. The new title may also have to be registered at the local courthouse, which the lawyer can do, but for which there are charges.

    I would make a guess that the whole process will cost about a thousand dollars.

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