: Lenders typically use the lower of the two credit scores to set interest rates. If one partner has poor credit, it might be better for the other to apply alone.
: Draft a legally binding contract with a real estate attorney. It should detail how you will manage joint ownership and provide a clear exit strategy for a breakup. unmarried couples buying a house
Applying for a mortgage jointly can increase your buying power, but it also carries shared risks. : Lenders typically use the lower of the
: If both names are on the mortgage, both are 100% responsible for the loan. If one partner stops paying, the other is still legally obligated to cover the full amount to avoid foreclosure. unmarried couples buying a house