re: Question about using fiancée's income when buying a home

quote:

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Anybody notice about 5 different things wrong in this thread from a financial standpoint?

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I'm trying to help the guy - not change his life.

1. We presume he's going to marry the gal before they buy the house together, so that fixes an obvious one.

2. He's got student loans that are "unpayoffable" before he buys the house - I understand that, I still do that - pay both.

3. She's only been working for 3 months (maybe she's young).

4. He can't qualify because the house he wants pushes him outside of the LTV/DTI numbers his lender wants to see and needs her income to get there.

5. He didn't say, but I suspect he doesn't have much of a downpayment, so he's going to go non-traditional financing and pay PMI.

There's probably more.

Again, I'm trying to help the guy, not change his life.