Tag Archive for: buying out

Buying Out Spouse/Partner = Refi; Not Cash Out or Purchase

We recently received the below email from a borrower who left us for what he thought was a lower rate.  “Hi Casey, The other lending company fell through and couldn’t get us a loan in time. Their customer support was horrible and wouldn’t provide me with a direct answer. We would like to see if […]Read More

Buying Out Ex or Partner Is Not a Purchase; It’s a Rate/Term Refi

We were just asked if an RPA (Residential Purchase Agreement) is needed when a man buys out his ex-wife (who is on title with him). The answer is no. Whenever a person buys out a spouse or partner who is on title, lenders consider the transaction a “rate and term refinance,” as long as all […]Read More