Is there a way to transfer a mortgage to my wife

[David Mirza]

I have 10 mortgages and can no longer get conventional loans.  Is there a way to transfer a mortgage to my wife without applying for a new loan?  I would like to free up my income to purchase more homes? 

If not, is there a creative way to allocate some income from the rentals to her so that she can qualify for new loans?  All 10 mortgages are in my name although she is a joint owner on some of the properties.

[Chris Mason]

Quote from @David Mirza:

I have 10 mortgages and can no longer get conventional loans.  Is there a way to transfer a mortgage to my wife without applying for a new loan?  I would like to free up my income to purchase more homes? 

If not, is there a creative way to allocate some income from the rentals to her so that she can qualify for new loans?  All 10 mortgages are in my name although she is a joint owner on some of the properties.

 I've done this a few times. Not exactly what you ask, but it produces the desired outcome.

You need to refinance the primary residence into your name, and remove her from title to all real estate you own. No consumer debts are to be in her name, aside from some $25/mo credit card.

Her DTI is now $25/$0 = infinity DTI, obviously you can't get a loan at infinity DTI.

Then you go into escrow on a rental property, rent is $2500/mo (at 75%, counts as $1875/mo) and PITI is $1600/mo.

Let's update the DTI math.

$25 / ($1875 - $1600) = $25 / $275 = 9% DTI.

Loan approved. Bunch of stuff left out for brevity, and all of the borrower-specific dominos need to be lined up 12 months in advance in many cases. (You could also do the DSCR thing today to get your foot in the door, and start lining up the refi now)

You know where to find me if you have any questions.