Space_-_Trash
Space_-_Trash t1_j6lb4xr wrote
Reply to comment by ExistentialReckning in Should my Fiancee and I both be on our mortgage if our payment can be lower if she's the only one on it? by WheresTheSauce
Not really a marital status issue. Maybe it is, I’m not a banker and don’t know the laws.
It’s more of an issue where the bank already knows the credit history of one party who will be cohabiting the home, even though they aren’t on the loan.
Space_-_Trash t1_j6kwb04 wrote
Reply to Should my Fiancee and I both be on our mortgage if our payment can be lower if she's the only one on it? by WheresTheSauce
Discuss with your banker both options. If they want your mortgage, they will show you the best route.
You might run into a problem where underwriters know you are getting married in 6 months. Since they are underwriting based on your future ability to pay, they may not be willing to write a 30 mortgage based on her numbers alone. Especially if she is on the edge with credit and DTI.
Space_-_Trash t1_ixxkj16 wrote
Reply to Am I able to manage this? by [deleted]
Stop 401k until you get expenses/liabilities in check.
Saving doesn’t just happen. You have to force yourself. Set up direct deposit of 10% of your take home pay to a savings account. That’s about $400/ month.
How much do you owe on SL?
Space_-_Trash t1_j6lj2dx wrote
Reply to comment by ExistentialReckning in Should my Fiancee and I both be on our mortgage if our payment can be lower if she's the only one on it? by WheresTheSauce
Yeah, you’re probably right.