Assumption or Refinance

[Priscila De La Torre]

Hello BiggerPockets,

My husband and I have been getting ready to start investing in real estate. You know paying off our debts, getting those credits scores high, and saving up. 

Now the thing is my husband is on my moms mortgage. We tried to get prequalified but the lender told us that since my husband was on my moms mortgage we couldn't qualify for an fha loan and I would be better off getting a place by myself. The thing is I got prequalified for 285,000. Which isn't much in California. The lender said that if we could get him off the mortgage we could be able to get qualified for more.  Currently my husband, brother in law, and my mom are on the mortgage. My mom wants to put the mortgage under her and my sister. We got in contact with the mortgage company and they said they would either do an assumption or refinance and they could send paperwork. What would be the best option in this scenario?  Any advice would be helpful.