I am engaged to be married within a year or so and I was wondering about first time home loans?
November 22nd, 2009 | by James |
diddlemedic07
meaning,…. can two people who are not yet married apply for a home loan and combine income on the application? I heard a friend talking that they did it about a year a go, just doesn’t sound right. But the way the housing market is today and rent keeps climbing, it would be worth it to get a decent house and stop paying $ 650 torward rent that gives us nothing. Advice?
Stop a panic attack
meaning,…. can two people who are not yet married apply for a home loan and combine income on the application? I heard a friend talking that they did it about a year a go, just doesn’t sound right. But the way the housing market is today and rent keeps climbing, it would be worth it to get a decent house and stop paying $ 650 torward rent that gives us nothing. Advice?
Stop a panic attack
3 Responses to “I am engaged to be married within a year or so and I was wondering about first time home loans?”
By Natural Acne Scar Treatment on Nov 23, 2009 | Reply
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Educate yourselves first on the home-buying process. There are a lot of good books on this subject. There’s a lot more to it than just the mortgage loan itself. Also do some hard thinking about your goals and plans - rushing into a purchase can be a BIG mistake.
By Wine Opener on Nov 26, 2009 | Reply
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Try to find something you both can comfortably afford not the most expensive you can get. If one of you lost your job would you still be able to may the mortgage? Are you saving for emergency expenses? Are your non-secured debt paid off or down?
By edu backlinks on Nov 27, 2009 | Reply
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You certainly do not have to be married to buy together. You both would still be equally and individually responsible for payment.
Good advice is to talk with the best mortgage broker you can find and do NOT stretch your resources in this market. Remember the extra costs of owning versus renting. How much you should spend depends on you as a couple - stability of jobs, expectations of job advancements, strength of long-term relationship, expectation os starting a family in near future, etc…
The best mortgage originator considers the whole personal scenario not just the numbers.