: Explicitly state who provided the down payment and how equity will be split if the home is sold.
To help you move forward, do you have a specific in mind or a target budget ? Knowing your area can help determine which local property laws or first-time homebuyer programs might apply to you. What unmarried couples buying a house together need to know unmarried couples buying a house
: If both names are on the mortgage, both are 100% responsible for the loan. If one partner stops paying, the other is still legally obligated to cover the full amount to avoid foreclosure. : Explicitly state who provided the down payment
: Lenders typically use the lower of the two credit scores to set interest rates. If one partner has poor credit, it might be better for the other to apply alone. What unmarried couples buying a house together need
: You cannot file taxes jointly. Only the person(s) on the mortgage can typically claim the mortgage interest deduction, and you may need to itemize to split it.
: Draft a legally binding contract with a real estate attorney. It should detail how you will manage joint ownership and provide a clear exit strategy for a breakup.