Can I get a mortgage to buy HALF of a property?

[Benjamin Qiu]

Greetings,

Looking for advice to see if it's possible to get a mortgage to buy into a property with 2 owners.

One of the owner is looking to cash out, is it possible to get approved by the bank to buy out one of the owners with a 30 year mortgage (will basically become a refi on the house, which is currently paid off). The other partner who's staying and myself are good with the 30 year loan and will sign off on it when needs to.

If doable, will the partner who's leaving also need to sign off on the mortgage?

Mortgage -> $ to buy out partner -> I'll pay for the mortgage.

Thanks a bunch

[Guifre Mora]

You can refinance as long as you are in the title. Do cash out refinance the leaving party can do a quitclaim and you pay him off from the cash. This is done all the time.