Established Member
Posts: 12
Registered: ‎01-20-2009

VA or FHA?

[ Edited ]

 My partner and I are about to refi a home that we both are responsible for paying.  We both are on the existing loan and title.   The refi is going to be a VA Cashout Refi which only he can be on, since we are a  same sex couple and are  not allowed to be married in Ohio.  He is a War time Veteran and his income is a bit lower than mine, however the lender setting up the loan is going to use my income along with my partners on the loan. From what I understand is that I wont be held responsible for the loan but I will be on the title/deed.  Is there a disadvantage for us creditwise?  Will my credit build faster without me being on the loan?  We are both wanting to keep and improve our credit,  I just want to be sure this is in our best interest as a couple building our financial future together.    Because if not going the VA route we will go with a FHA Cashout keeping both my name and his on the loan and deed.  Any advice? Thanks.

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