Mortgage/home owner questions

Hey Carey... if you are not married and wish to purchase a home together, then that is allowable, and both your incomes, assets, and debt will be considered.. if you are not on the loan, then your income, assets, and debt will not be considered.. The best advice I can give you is to contact a LOCAL mortgage broker, not the local "Big" bank, and certainly not one of those 50 states internet lenders...By applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Yes, you both can be on the mortgage and both of your incomes will be used to qualify for the loan. Also both of your debts and your credit will be considered. Contact an experienced Lender 411 mortgage professional in your area. They should be able to answer all your questions about your specific situation and help you get qualified. Good luck.

You do not need to be married to be co-borrowers and you must be a co-borrower to have your income included. The only time this could be an issue is if your credit is such that you could not be on the loan. When you are ready to get your loan, contact a local Mortgage Banker/Broker, rather than one of the big banks or big national mortgage factories. Unlike a bank employee, who is most likely just an order taker, a Mortgage Broker/Banker is Trained, Tested and Licensed in all aspects of Mortgage Origination. He/She will have access to loan products of many lenders, not just those of one bank, and can properly guide you. But more importantly, He/She is trained to take a look at the various different options available to you and guide you into the one that makes the best sense for your situation. Don't forget to check out your selected Mortgage Originator at the National Mortgage Licensing System at www.NMLSConsumerAccess.org ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com

Hi Carey,The answer is yes, you can have two non people married on a mortgage, actually it is quite common in today's environment.If you have additional questions or need assistance. Feel free to contact me/us. 877-900-4762 Ext 412 We do lend in Alaska.

You have great advice here. Linda explained it very well above. But, it is a good point that if things don't work out between the two of you, you will either need to sell the property and divide the equity/expenses somehow, or one party will have to buy out the other through a refinance. Divorce attorneys would help work this out in a traditional marriage, but you will likely need to work that out between yourselves or through mediation otherwise. It's a good suggestion to at least have this "what if" conversation with your significant other and perhaps make an agreement in writing beforehand.