To remove a name from a mortgage in Florida, the remaining borrower usually has to refinance the loan in their own name, have the lender approve an assumption with a release of liability, or sell the home and pay the loan off. A lender rarely takes someone off an existing loan just because they ask. And signing a quitclaim deed changes who owns the home, but it does not change who owes the mortgage.
People look into this after a divorce, a breakup, or when a parent or friend co-signed years ago and wants off the loan. The steps are similar in each case, so here is how it works.
Title and the loan are two different things
This is the part that trips up the most people. Your home has two separate sets of paperwork:
- The deed shows who owns the property. It is recorded with the county.
- The promissory note is the promise to repay the loan. Everyone who signed it is responsible for the debt.
- The mortgage is the document that pledges the home as security for the note.
A quitclaim deed can take someone off title, but anyone who signed the note generally stays on the hook until the loan is paid off, refinanced, or the lender formally releases them. That means the departing person can lose ownership and still have the payment history show up on their credit, good or bad.
Florida adds one wrinkle. When a home is a homestead, Florida law generally requires a married owner’s spouse to sign the mortgage even if that spouse is not a borrower on the note. So a spouse may appear on the mortgage without owing the debt. Before Michael moved into mortgages in 2011, he spent about 11 years at a Flagler Beach title company doing searches and closings, and sorting out who is on which document is often the first step.
Option 1: Refinance into one name
A refinance is the most common path. The person keeping the home applies for a new loan on their own, and the new loan pays off the old one. Once it closes, the other borrower is off the debt.
The catch is that the remaining borrower has to qualify alone. A lender will review:
- Income that can support the payment without the other person’s earnings.
- Credit history and score.
- Debt-to-income ratio, including any new support payments. Our guide to debt-to-income ratio for Florida buyers explains how that is figured.
- The home’s value from a new appraisal and how much equity is left.
If you also need to pay the other person their share of the equity, that is often done with a cash-out refinance. Some programs treat an equity buyout under a divorce settlement or written agreement differently from a regular cash-out, so ask how your situation would be handled. Our article on cash-out vs. rate and term refinancing covers the difference.
A new loan also means a new rate and new closing costs. Plug a few numbers into the mortgage calculator to see what a new payment could look like on one income.
Option 2: Assumption with a release of liability
Some loans can be assumed. FHA, VA, and USDA loans are generally assumable with lender approval, and some lenders will then release the departing borrower from the debt. This can let the remaining borrower keep the existing rate and terms instead of starting over.
Things to know about assumptions:
- The person taking over the loan still has to qualify with the servicer.
- A release of liability has to be approved in writing. Without it, the departing borrower may still be responsible.
- On a VA loan, the veteran’s entitlement can stay tied to the loan unless the person assuming is also an eligible veteran who substitutes their own entitlement.
- Processing times vary a lot from servicer to servicer, so start early.
Most conventional loans are not assumable in the usual sense. Federal law generally keeps a lender from calling the loan due when a home is transferred to a spouse as part of a divorce, which lets that spouse keep the home and the existing loan. But that protection does not remove the other spouse from the debt.
Option 3: Sell the home
When neither borrower can qualify alone, or no one wants to keep the house, selling is the cleanest way to end the loan. The sale pays off the mortgage, and the remaining proceeds are split however the parties agree or a court orders. It is not the answer anyone hopes for, but it removes both names at once.
Steps to take before you start
Whichever path you choose, a little preparation saves time:
- Pull your current mortgage statement and note the loan type, the servicer, and the balance.
- Check who is on the deed and the note. Your closing documents or the county records will show it.
- Keep the payments current. A late payment during the process can hurt both of you and make qualifying harder.
- Talk with your attorney about the deed, the settlement terms, and the timing, especially in a divorce. This article is not legal or tax advice.
- Ask about Florida deed costs. Florida charges documentary stamp tax on many deed transfers, and the amount can depend on whether there is a mortgage on the home. Your title company or attorney can tell you what applies.
- Talk with a loan officer early to see whether a refinance or an assumption is realistic before you agree to a timeline.
The Consumer Financial Protection Bureau has more general information about mortgages and servicers at consumerfinance.gov.
Frequently asked questions
Can I remove my ex from the mortgage without refinancing?
Sometimes. If the loan is assumable and the servicer approves an assumption with a release of liability, the other borrower can come off the debt without a new loan. Otherwise, a refinance or a sale is usually needed. Requirements vary, and a lender will review your situation.
Does a quitclaim deed take me off the mortgage?
No. A quitclaim deed transfers your ownership interest, but it does not end your responsibility for the loan. You stay on the note until the loan is paid off, refinanced, or the lender formally releases you.
How long does it take to refinance into one name?
It depends on the appraisal, the paperwork, and how quickly any settlement or court documents are final. Having the agreement, income documents, and insurance details ready helps it move faster.
Can a co-signer be released from a mortgage?
Usually only through a refinance, an approved assumption, or a sale. Lenders approved the loan based on both people, so they rarely remove a co-signer on request alone.
If you are working out who keeps the house, Michael Akialis can walk you through whether a refinance or an assumption looks realistic, from his office at 408 S Central Avenue in Flagler Beach. You can read more about Michael’s background, find more Florida mortgage guidance, or call (386) 793-5435 to talk it through.
Mortgage information is for educational purposes only and is not a commitment to lend or extend credit. All loans are subject to credit approval, property approval, underwriting guidelines, program eligibility, and availability. Program rules, rates, fees, and requirements can change. Michael Akialis, NMLS #832250; American Home Mortgage Group LLC, NMLS #1812447.