Unmarried Couples Buying A House Here

: 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.

Applying for a mortgage jointly can increase your buying power, but it also carries shared risks. unmarried couples buying a house

: Explicitly state who provided the down payment and how equity will be split if the home is sold. : If both names are on the mortgage,

: 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. : Explicitly state who provided the down payment

: You can own unequal shares (e.g., 70/30). If one partner dies, their share goes to their chosen heirs rather than automatically to the surviving partner.

: Only one person is the legal owner. This can be risky for the non-titled partner, who may have no legal claim to the home despite contributing to payments. 3. Strategize Your Mortgage

: Both partners own 50%. If one dies, their share automatically goes to the survivor without going through probate.