Post # 1
Hello, I have a question and I would appreciate all the answers I receive. I am a student and have saved money from my working years. thats how I survive to pay my house and school. I have 200 tousand savings and my fiance has the same amount of savings. He works and makes about 6 tousand dollars a year. I have a house, we want to get a different house, since I am a student he will own the mortgage. However, he says tht I should pu 60 tousand dollars from the sale of my house towards the new, one. He says he doesnt want to touch his savings. Because he says we will survive 3 years on one income and he will pay everything except my school and my car and basically everyhing related to me. He wont pay them. He already pay same amount of money each month for the house he rents and other things. The only thing he is gonna pay more is the utilities since I will be living with him. Should I move on with this and put 100%b profits form my house towards a new home we will both own jointly? What do I do? Help please. we are getting married next week and will be buying the house after marrying.
This topic was modified 4 years, 10 months ago by starlove2014.
Post # 2
I would not do this as you are not married yet. just my opinion.
Post # 3
starlove2014: Why are you moving into a new house? Why don’t you just wait until after you’re married if this is a concern? My Fiance and I bought a house before getting married, but I paid the down payment and the house is solely in my name. I think I might be uncomfortable putting down the down payment on someone else’s mortgage.
Post # 4
I would also wait til youre actually married to buy a house together. I don’t understand though his reasoning…when you’re married all of your and his money will be both of yours correct? So what’s the difference between you paying all of it and you splitting the cost halfway? Seems odd to me..
Post # 5
starlove2014: No, that sounds like a very bad idea.
What does this mean: “since I am a student he will own the mortgage“? Do you mean the house would be in his name? What does that have to do with being a student?
Are you saying he only makes $6000 per year? Or was that a typo? Because that is not enough for one person to live on, much less two people.
And who exactly is “he”? Is this your husband, fiance, boyfriend, what? ETA: nevermind, I see in the post title he’s your fiance.
Post # 6
If you are not on the title I would not put down a dime.
Post # 7
I would not buy a house with him without being married. If he decides to break things off, you will be out all of that money.
Post # 8
I personally see a red flag in the fact that he is owning the home. What if things went south and he kicked you out? Would he keep your money in the house? Would he pay you out?
I bought a house house with my late fiancé and paid all the down payments and everything. We called everything off and sold the house 1.5 years after buying it and I lost thousands of dollars. We were both co owners however
just speaking from personal experience. Good luck
Post # 9
actually the house will be on both of our name and we are getting married next week.
Post # 10
Can you two actually qualify when he only makes $6000/year? Or is tousand some value I’m unaware of and you don’t mean thousand?
Post # 11
he makes 6,000 a mont after taxes.
Post # 12
starlove2014: Um, no. Especially if he is the only one who “owns” it. Just because you’ll be “surviving” off his income for “x” years doesn’t mean you should upfront everything. If you do decide to put that money down, I’d make sure your name is on the mortgage.
Post # 13
Let me get this straight
-you both will be on the title
-the mortgage will only be in his name
-he wants you to pay the entire down payment on new house?
Post # 14
starlove2014: Ok, so are you saying you would put down $60,000 for the downpayment and then HE would finance the rest with a mortgage in his name only, and the title would be in both of your names since you’ll be married AND will BOTH have a vested financial interest in the house (you via cash downpayment, him via the mortgage)? If so, that seems much more reasonable than what the original post sounded like.
Post # 15
Yes. He says he shouldnt put any money down.I should.