can you transfer a loan into someone else’s name

Best answer


While youcannot transfer most personal loans to another person,some types are transferrable in certain situations. Mortgages and car loans are unlike other types of personal loans in that they can be transferred. However,they can only be transferred to another borrower under certain circumstances.

People also ask


  • Can a personal loan be transferred to someone else?

  • Since personal loans are based on your specific financial health, income, and credit score, they can鈥檛 be transferred to someone else. Your lender initially extended the loan to you after assessing your specific financial situation and deciding that you were low-risk enough to be approved for the loan.

  • Can a mortgage be transferred to another borrower?

  • Mortgages and car loans are unlike other types of personal loans in that they can be transferred. However, they can only be transferred to another borrower under certain circumstances. For one thing, the new borrower must be able to qualify for the loan.

  • Can a loan be placed in someone else鈥檚 name?

  • In order to have the loan placed in someone else鈥檚 name, you would have to refinance it to another loan. If the new loan in the new person鈥檚 name is used to pay off the old loan, it will change the borrower and the terms of the loan.

  • Can I have my student loans transferred?

  • It may be possible to have the student loan transferred, but only if the lender agrees to this arrangement. Moreover, many lenders will likely not have much incentive to transfer the student loan because these types of loans are typically not dischargeable.

    Related Posts

    Leave a Reply

    Your email address will not be published.