(Closed) Buying a house on my own ? :(

posted 7 years ago in Home
Post # 17
Member
10363 posts
Sugar Beekeeper
  • Wedding: September 2010

He can technically “gift” you money towards the down payment (and they will be checking the accounts the money comes from, trust me). So, he could theoretically gift you a larger sum to make a bigger down payment, upping your overall budget. Sorry financing is so complicated. We just went through the process, and it’s a crazy amount of documentation that we had no idea about going in!

Post # 18
Member
230 posts
Helper bee
  • Wedding: June 2012

@catracha:  I get what you are saying.  But just because the mortgage is technically in your name doesn’t mean his cash income can’t go toward the monthly bill (or however you figure it out like if you pay the mortgage but he pays for other bills you guys have).  Also, it might vary from state to state but if you are already married when you buy the house then he still might have a right to it in the unfortunate event you get divorced.  This is the case in MA- they separate property purchased before the marriage and after.  

Post # 19
Member
18628 posts
Honey Beekeeper
  • Wedding: June 2009

@catracha:  Very good idea.  We made sure we could afford our payment on one income as well.

I would go the route of having him “gift” you the moey for the downpayment.  No doc loans (where you don’t have to document where income came from) are impossible now.  Last year they had to verify our employment twice, including right before closing.

Post # 21
Member
330 posts
Helper bee
  • Wedding: September 2011

We will probably be buying our house only through DH’s income. I’m a self-employed photographer, which I LOVE. But most places in Washington state require you to have three years of income (and good, steady income at that) to prove that you can buy your home as a self-employed person. However, it will be in both our names. We plan to only buy something we can afford on his salary, just in case.

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