Estate and Probate Home Financing Guide
Money and the Mortgage When a Home Is Part of an Estate
How financing works when a home is part of an estate or has been inherited.
Whether you are settling an estate or planning ahead, what happens to the mortgage matters as much as what happens to the house. This guide covers both sides.
Inside the guide
Money and the Mortgage in Probate
For heirs and families settling an estate. It covers:
Which documents to locate first and why to notify the loan servicer early
What can happen to the house: selling through probate, one heir keeping it and assuming the loan, one heir refinancing, or heirs buying one another out
How qualifying works for assumption and for a refinance
Questions to ask a lender and the documents you will need from probate
Money and the Mortgage in Estate Planning
For anyone planning ahead. It covers:
How the way your home is titled affects the mortgage, including living trusts, joint ownership, and individual title with a will
Options worth discussing now, such as refinancing before a major life change or adding a trusted person to title
Why to coordinate your attorney and lender before retitling a home
Good to know
Keep the mortgage current during probate, because a home in default limits every option later. Avoid rushing into a refinance or sale before the estate's debts and taxes are clear.
Educational and general in nature, not legal or tax advice.
Working through an estate right now?
I can help you understand your options and your timeline.
Ruthie Crawford
Licensed Mortgage Loan Originator, Fairway Independent Mortgage
NMLS #2759858
503-250-4247 | ruthie.crawford@fairwaymc.com
Serving clients in Oregon, Washington, and Arizona
