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Buying our first house, some questions

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Anonymous
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Buying our first house, some questions

I just had some questions I am hoping I could get answers to regarding buying a house with my fiance/soon to be wife.

 

Our previous plan was to buy a house after we got married, but recently decided for multiple reasons that we might want to buy our first house before we get married.

Are there any financial pros and cons from doing this?

My income is much higher than hers, would we be considered more as 'one' if we were married and therefore look more attractive to the banks?

 

My fiance is an AU on 3-4 of my cards, and her FICO is roughly the same as mine due to this. She has no cards that are under her name as the account holder, should I be getting her to apply for some cards of her own before we start applying for a mortgage?

 

Thank you all for your responses in advance!

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Anonymous
Not applicable

Re: Buying our first house, some questions

It doesn't really matter if you are married if you both plan on being on the loan and occupying the property. And for your second question, it depends on the lender. I just closed a loan where the borrower had no open tradelines, so you can find a lender that will give your fiancé a loan. 

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RonM21
Valued Contributor

Re: Buying our first house, some questions

If you do get her to apply before the loan, try to leave plenty of time in between, because initially, her score may dip because of the new lines.


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