Quick Claim Deeding to obtain financing

I have a 726 Credit score and can go full doc but cannot obtain financing because of the new first time home buyer rules.

I am going in with a partner that is supplying the rehab money for a property but for me to close I need 30K in assets.

Another investor mentoned about quick claim deeding. Where a person quick claim deeds property to me to obtain the financing from the bank and quick claim it back.

Has anyone tried this strategy? If so, can someone PLEASE explain to me how to do it? I would like to hopefully obtain financing soon to close on this property. Thanks

Hope I don’t sound like a bitch here, but it’s QUIT claim, not quick.

Is this a primary residence or non-owner occupied first time purchase?


Scott Miller

With your score and full doc you shouldnt have any problem with first time buyer financing whether it’s owner occ non owner.

Maybe there’s something other than the fact that your a first time homebuyer, that in itself shouldnt be the issue.

Were you trying to qualify for a conventional rehab loan or was it just a normal purchse?

How much in liquid assets do you have thats been in your account for at least 2 months? Maybe the issue is with not being truly full doc.

Your score says a lot and your loan should be achievable.

Quit claiming a property temporarily to obtain mortgage financing sounds like mortgage fraud. Your doing this for the sole purpose of decieving a lender.

Title seasoning will potentially be an issue in a quit claim deed transfer; the OP hasn’t shared enough information on occupancy, reserves, etc. to determine best course of action.


Scott Miller