(Closed) Your House Loan…

posted 6 years ago in Home
  • poll: Your house LOAN (w/ the bank) is in whose name....
    In my name only : (9 votes)
    14 %
    In my SO's name only : (19 votes)
    29 %
    In both of our names : (36 votes)
    55 %
    Other (explain below) : (1 votes)
    2 %
  • Post # 3
    Member
    1212 posts
    Bumble bee
    • Wedding: September 2012

    The house we live in now was originally my house and the loan is still in my name only. At renewal it will probably stay that way. we will keep it as a rental.

    I had a rental property that came up for renewal a while ago and at that time FI (we weren’t engaged at the time) went on the mortgage to help me keep it and not have to sell.

    We will be looking for another house in the new year as our new home together and that will also be under both our names for borrowing.

     

    Post # 4
    Member
    1642 posts
    Bumble bee
    • Wedding: October 2012

    In both our names. His debt/income ratio was better than mine, but my credit score was better. So we went in together.

    Post # 5
    Member
    2065 posts
    Buzzing bee
    • Wedding: December 2011

    My husband bought the house years before we met, so it’s in his name. We were going to refinance and add me to the mortgage but it ended up falling through. It’s entirely too much hassle (and EXPENSIVE) to try to add me again, so it’ll just stay in his name until we sell the house and buy a different one.

    Post # 6
    Hostess
    18646 posts
    Honey Beekeeper
    • Wedding: June 2009

    The bank loan is in both our names and the title is in both our names.  I would never own property where the loan is in my name but the title is in both names due to the possibility of being stuck with the mortgage and only half a house.

    Post # 7
    Member
    14303 posts
    Honey Beekeeper
    • Wedding: June 2011

    We both have great credit and no debts so it wouldnt adversely effect the loan.  Our names are both on the loand and the house and we wouldnt have it any other way.  Things are all great and rosy now, but god forbid things turn sour, I sure as heck didnt want a loan in my name only, especially if he were on the deed.  And we weren’t willing to buy a house “together” and not both be officially on the deed if we were both paying for it.

    Post # 8
    Member
    3472 posts
    Sugar bee
    • Wedding: July 2012 - The Gables Inn, Santa Rosa, CA

    Our loan is listed in both our names, especially since we bought the house before we were married, it was important to us that we each own exactly 50%.  Now that we are married, we need to alter the paperwork, but it will still list both of us. 

    Post # 9
    Member
    680 posts
    Busy bee
    • Wedding: February 2012

    It’s just in my husband’s name. He owned the house before me. We’re going to be trying to sell in the near future so getting me added would not be worth the cost.

     

    Post # 11
    Member
    1212 posts
    Bumble bee
    • Wedding: September 2012

    @inky_1:  Yes, he would be taking the bigger risk as you would be entitled to a % of the home/value but he is on the hook for the financing of things went south.

    It would work the same for the second property if he goes on title with the loan being all in your name so that would even things up unless the cost/value of the second property was much higher or something.

     

    Post # 13
    Member
    13101 posts
    Honey Beekeeper
    • Wedding: July 2010

    We are both listed on the mortgage and the house.  We’re married and I wouldn’t buy a house any other way.  To me – that is how a married couple should opperate.

    Post # 14
    Member
    5494 posts
    Bee Keeper
    • Wedding: August 2011

    Both our names.  As a married couple I would not be ok with having only one of our names on it. Also there is no way that we could have qualified for the loan based on only one of our salaries. 

    Post # 15
    Member
    2894 posts
    Sugar bee

    It’s mine…it’s allll miiiine! BWAHAHAHAHA Wink Seriously though – I bought before we were even married, or engaged. 

    Post # 16
    Member
    478 posts
    Helper bee
    • Wedding: October 2011

    DH’s name is on the loan. We bought the house a few weeks before we got married and we wouldn’t have gotten first time home buyer money if I was on it as well. We’re in the process of putting my name on it though.

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