Almost 1 in 4 young homeowners bought a house with their current spouse before marriage, according to one study. Here's how.
My partner had a goal: He wanted to be a homeowner by 30.
Our story is hardly uncommon for our generation. Nearly 25% of homeowners ages 18-34 purchased a house with their current spouse before marriage, according to a 2013 study from Coldwell Banker. That’s in contrast to just 14% of those 45 or older.Understand each other’s finances Chances are you and your partner aren’t in exactly the same financial situation. Maybe one of you earns more, or one has a delinquent account or two lurking on credit reports.
Build up your down payment The biggest challenge many people face is saving money for a down payment. There are trade-offs to a smaller down payment: You’ll likely face higher upfront fees and monthly payments, as well as costs like mortgage insurance. Lower your debt-to-income ratio by paying down accounts like credit cards. Carrying a lot of debt also makes you look risky.
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