my girlfriend and I are planning on buying a single family home in about 10 months. We both have pretty good salaries and have agreed on a monthly payment that will be affordable to us.
My question is, how do we apply for a loan if we are not married. My credit is excellent and hers if "so-so". Would I be the main applicant and her as co-signor. Can we both be the applicant? Will they review both of our credits together and come up with an approved loan amount based on both our salaries together?
Any help would be greatly appreciated
Legally you can. The sale can be a Tenancy in Common or Joint Tenancy (the two most common versions). Now the extra paperwork of doing a mortage in such a way... sorry that I cannot answer for you.
I would suggest you talk to a realitor or a mortage officer where you bank.