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I am having so many issues with my old landlord and we haven't lived there is over a year. She is charging me for the following damages...
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I have just reported a neighbour because I can hear him beating his children (they visit him on the weekend) and the kids are scremin so much that it scares me.
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 Good Credit, Have Debt...Can i get a Mortgage? |
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I am going to move out of my apartment end of next month. What are the other dos and don'ts I need to be aware of before I move out of my apartment?
Additional Details
Am I in ... |
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| Can I legally do this to my landlord? |
My mother is my landlord. I called the police on her yesterday they said if i called them about someone will be arrested. so I have now typed up and signed my own 30 day notice.
You are ... |
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 My landlord refuses to stop entering my apartment without my permission. I want him to stop.Any suggestions? |
He has entered on several occassions.
I have not caught him in the act. I have found several items moved around and I have seen him lurking around and staring in my window.
I put a screen ... |
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Tada! | Applying for mortgage as fiance/fiancee....instead of married? |
Quick snapshot of our situation...
We are looking to purchase our first home next year when our current home lease expires around May. She has excellent credit (+750 FICO) and I have been building my credit (high 600's now, no baddies but not a thick file). She will be 30 and I will be 26 when we apply. I have a good paying job and will have held it for 2 1/2 year when we apply, she will be fresh out of graduate school with her Master's with little experience in the professional world.
We will have ~ $20,000 saved up for a down payment, and are looking to secure a $240,000 mortgage. We do not want a conventional mortgage where we need 20% down, that is just not realistic for us (obviously...look at our down).
I am interested in using an FHA lender, and according to their site their lenders do not base solely off the credit score, and they also discourage the ARM loans, which we are not interested in.
Now that the info is out there, the fact is that we are not married....however by the time May rolls around, we will probably be engaged. The ring has been purchased :) Does applying for a mortgage as a non-married couple have a adverse effect on a mortgage decision rather than a married couple? I guess my rationality about this, is that married couples have joint liabilities for debt, whereas non-married only have liability assumed for joint debt that is incurred in both their names....so would the mortgage lender be more apt to approve us if we were married, or is that not really a factor? |
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C00KiE
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It doesn't matter if your married or not. Me and my bf are buying a house too ( we're in escrow) we're not married and were doing an FHA loan cause it's only 3 % down but after December it's going to be 5 % down. So it really does't matter if you guys are not married you can always just add her on the title of the loan. If the loan is going to be in your name only their only going to look at all YOUR loans and any loans if you co-signed any and see where you stand from there. |
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cheeba0228
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Married or unmarried just means different paperwork thats all. The qualifying credit will be the lesser of the two borrowers. the school can be used as work history as long as she has 30 days employment before you apply for the loan. |
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Christin K
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The only thing the lender will look at when a couple is married is the financial history and credibility of the COUPLE together. As unmarried partners, the lender will look at the INDIVIDUAL credit histories and credibility.
It may be a negative if you are not married, since your lower scores will bring down the overall credibility. (Wedding plans will not matter here.)
If I were you, I'd use that $20K as a 20% down on a conventional (not FHA) mortgage - fixed rate----shop the loan and see what you can get for it; and buy a house that IT fits--don't buy more house than you can afford. That's the A-number-one rule these days. BUY IN YOUR BUDGET. Get yourself pre-approved--not just pre-qualified-- and THEN shop. Don't set your sights on a particular house and then try to finance it with your figures.
You'll be far better off financially and because of that, far more likely to get your mortgage.
And you're right not to get an ARM.
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k m
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You have answered your own question. It is NOT a smart idea until you get married to purchase a mortgage. Once you are in, you are in a mortgage until you pay it off or sell the property and the housing crisis is not the best right now if you break up and want to sell the house. This purchase will tie you together, even if you don't get married, unless you or she sells their half of the house. Then you have to ask yourself if you can take on the mortgage by yourself if you should break up.
Wait until you are married! An engagement doesn't mean you will get married but a promise that you intend to. DON'T get yourself into a situation that you won't be able to get out of easily if you should break up. |
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golferwhoworks
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no effect. But I will tell you that your debt ti income ratios will be important as your scores are fine. You will need 3.5% down (or more) and you can buy as jointly if you wish.
I prefer to have clients in your shoes wed OR at least an agreement in place in writing that spells out each persons responsibility just in case of the break up.
Also I am going to get on my soap box now and tell you to have not less than 6 months living expenses in the Bank as an emergency fund and if ever dipped into replaced asap as life happens to all of us so be prepared for every thing if at all possible.
Good luck
I am a mortgage banker in TN & KY |
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estielmo
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Don't over-buy and don't get a balloon or variable rate loan. Buy what you can comfortably afford in case one gets sick or pregnant or laid-off.
You better have a pre-nup in place to describe your rights and responsibilities. With two names on the mortgage and deed it can get VERY dicey when you break up. |
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sandra g
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Lenders want to make sure that the mortgage can be paid. They are going to look at your credit and ability to pay. They are not suppose to discriminate because you are not married. It will still be a joint liability.
They will have one of you as the applicant and one as a co. They will tell you at the time which way is the best way to go. There is also a first time buyer plans available. You may want to check in to that also. Call some of your banks. Not being married should not make a difference. |
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Melissa F
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Being married or not has nothing to do with it. The banks are looking to make sure you can afford to pay the loan back (credit score etc) My ex and I bought a house when we were engaged and it did not effect us in anyway |
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Roger S
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One word
LAWWWWWWWWWWWWWWWWWyer
are u insane to approach this situation without one? |
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godged
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The lender won't care if you are married or not.
I don't have any objection to you doing this before you are married. HOWEVER, you must obtain a legally binding agreement that outlines who brought what to the purchase, who is going to pay for what while you are together, what happens to the property if you get married or break up, and what happens to the property if something happens to one of you, which will keep the families out of it.
Best wishes to you. |
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Steve D
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Congrats on the pending marriage and well wishes on buying the house. My fiancee and I did the same (bought the house before marriage) so, yes, there is usually no problem (and btw, we just celebrated 25 years together and 4th house :).
Two caveats - you don't mention your income which will have a bearing on the size of the mortgage. Figure you will need total income of $80 - 100K to qualify for a $240k mortgage.
Second caveat, Since you will be putting down less than 10% (probably closer to 5% after closing costs are paid), expect to pay PMI for the mortgage. Expect closing costs to be between 2 and 3 percent of the sales price (4,500 to 6,500 on 240K). |
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rusty_266
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It will vary lender to lender, but it all comes down to your credit worthiness in the end. Certainly some banks or lenders may look more favorably on the fact that you have made the commitment and gotten married, but if you can qualify for the loan, it won't be an issue.
You didn't mention how long you have been in the relationship. Not that its any of my business, but just as a general rule, I would recommend waiting until after getting married before committing to such a large purchase. Stuff happens even though you might not see the possibility right now. If its such a great deal now, it will still be a great deal in another year or two when you decide to get married.
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pixidoas243w
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don't worry about it, good luck have fun and enjoy and never handle more then you can comfortably pay, cause you never know when your going to have a rainy day. |
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