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What is the best way to buy a house with my fiance?

I filed for bankruptcy this year but my fiance has perfect credit. We want to buy a house in Aug 2008 we've lived together for 3 years and will be getting married in 2009. What is the best way to get a mortgage. Her salary is low 40's and mine is low 30's.

Public Comments

1. I would let her finance the house in her name and have your name added to the deed, until your credit is repaired from bankruptcy, then you can refinance.
2. You really shouldn't be asking this here. Go window shopping at local banks for a top offer.
3. I would live in an inexpensive apartment and put money away for a good down payment. Then once you are married you can buy a house together. I know more than one couple who purchased together before getting married only to have a messy breakup before tieing the knot. One friend put all her savings into the place but since her boyfriend was the one who was able to get the mortgage she had no claim to the place. Not that I am saying you will break up as I don't know you, just protect yourself.
4. Present your fiancee to the house owner, and ask if he would give you the house in exchange for your fiancee. Then you would be buying a house with your fiancee.
5. She should apply for the loan in her name and your income can be added as additional income. Her name will appear on the mortgage and the deed at closing and then after closing, she can quit-claim you onto the property.
6. Your salary won't count since you won't be able to get qualified for a loan. You're not going to get much of a house on her salary alone. My suggestion would be to wait 2 years after your bankruptcy, at least be able to qualify for a loan & THEN buy - with a combined income of 70k you can get a decent house. We ALL want to own homes, but you've got to be realistic - and I doubt it's going to happen for you right now. I'd also put off getting married until you're BOTH financially stable. It'll eliminate a lot of hassle and strain on your marriage if you're not bringing in a bunch of baggage. If you've been living together for 3 years and you JUST filed for bankruptcy, that tells me she watched your downward spiral & either didn't stop you from destroying your life, or you didn't care enough to take her advice. This should be foreshadowing your future together.
7. you could only use her income if you only use her credit rating and only her name would be on everything - so it's probably better to wait until you are married and save some more and wait until your credit score starts to rebound - should take 2-3 yrs