My wife wants to purchase a home that is in my fathers name with me on the deed, the new mortgage will not have my name anywhere on it, is this poss.?

Your state law will have the final word on whether it is possible -- but (if the property is to become your homestead) I think you have misunderstood something.  If the current title is your name and your father's name and your wife purchases it, that means title will go to your wife and your name -- and that of your father -- will be removed from the title.  If your wife then applies for a mortgage loan in her own name, (if the property is homestead) it is my opinion that the state law will require you to sign the mortgage just to validate it.  Your signing the mortgage alone will not result in your owning any interest in the property and will not impose any debt on you.  It will merely validate the mortgage. If the property is NOT homestead for you and your wife, it is quite possible that she could take title in her name alone and execute a mortgage to finance the purchase all without a need for your signature.  Your state law will confirm whether this is so. A short conference with a good real estate attorney near the property will dispel any uncertainty about these questions.