Can my fiances income be combined with mine on a home loan to increase what we can be approved for? - home income plans
My friend who is younger, has almost no credit history, but he did a good job with good income, no debt. We soon plan a wedding and look at houses together. I do everything myself, but wondered if we could go together, so that we can have more income per month, and a better income to debt ratio? "This allows us to be able to be adopted? Thank you for your comments!
Friday, January 8, 2010
Home Income Plans Can My Fiances Income Be Combined With Mine On A Home Loan To Increase What We Can Be Approved For?
3 comments:
You can, but your interest rate will be much higher, based on the lowest two.
If you and your friend can buy a house together, but also for your income, debts and credit scores for loan approval will be considered.
It would be desirable to establish a partnership before the purchase of the property. I would also suggest you book as a tenant-in-common "because he was not married yet.
You can opt for a joint. The income and credit history considered.
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