My parents own their house in California. No mortgages or liens or loans. They want to add me to the deed. If I am added to the deed and I have a higher credit rating than they do, would we qualify for a better rate if we apply for a home equity loan?
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NOT NECESSARILY. MOST MORTGAGE COMPANIES WILL REQUIRE YOU LIVE OR RESIDE IN THE HOME. YOU MAY NEED TO APPLY BY YOURSELF IF THEIR CREDIT RATING ISN'T GOOD. CALL A LOCAL LOAN COMPANY AND ASK WHAT THEY CAN DO- THEY CAN GIVE YOU INFORMATION VERBALLY WITHOUT YOU APPLYING. -
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