First comes love, then comes ... a mortgage?! That’s right: Many couples are buying a home together before tying the knot. In fact, 1 in 4 homeowners said they purchased a home with their significant other before marriage, according to a 2016 survey by TD Bank. And that's presuming they end up tying the knot after all; many continue cohabiting without ever heading down the aisle.
After all, purchasing a home together is ultimately a business decision. You, as an individual, need to take steps to protect your investment. So, before buying a home with your significant other, make sure not to make these common mistakes.
Mistake No. 1: Not discussing your credit history
Your credit score, of course, is primarily a measure of how well you've paid off past debts; you can get a free estimate of this number at Credit Karma. Even if your credit score is sterling, if your partner's is subpar, you as a couple could be seen as a lending liability.
Mistake No. 2: Planning who pays what with a hug and a kiss
Mistake No. 3: Not considering your title options
Mistake No. 4: Making house payments separately
By – realtor.com