Should my spouse be on the mortgage?

Should my spouse be on the mortgage?

It’s often easier to qualify for a joint mortgage, because both spouses can contribute income and assets to the application. However, if one spouse can qualify for a mortgage based on his own income and credit, the mortgage does not need to be in both spouses’ names unless you live in a community property state.

Should I pay half of my boyfriend’s mortgage?

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It’s only fair you should pay your share of the bills. If you were renting, you’d both be on the lease, equally obligated to pay your share of the rent for the life of that lease.

Can I put my girlfriend on my mortgage?

If your partner’s name is the only one on the deed, he or she is the only legal owner. Officially adding the other partner’s name to the deed might allow your mortgage lender to call in the loan, and in some areas, you may have to pay transfer taxes and fees to add a name to the deed.

Is it smart to buy a house with your boyfriend?

Some of the benefits of purchasing a home with a boyfriend or girlfriend include: You can qualify for more. The lender will take both incomes and credit scores into account, so you could pre-qualify for a larger loan amount than you would applying separately. You’ll split expenses.

How do I put my wife’s name on the house?

Before adding your spouse to the deed, speak with your attorney. The easiest way to grant your spouse title to your home is via a quitclaim deed (Californians generally use an interspousal grant deed). With a quitclaim deed, you can name your spouse as the property’s joint owner.