Hi Tara -

In addition to these answers posted, I just wanted to let you know that this past Saturdays's edition (August 15) of the Star Ledger's Homefinder (Real Estate) section had an in depth article in regards to a couple purchasing a home prior to a marriage. In addition to financing, there are some important pointers that the article brings up to protect your and your fiance's best interest in your home purchase.

I have attached a link of the article for you to review.

I hope this helps

Camille Haynes
Weichert Realtors
73 Washington Street
Morristown, NJ 07205
(973) 455-1900

The first step is to sit down with a professional mortgage broker through a bank or mortgage company.and obtain a Pre-Approval Letter. At Coldwell Banker there is a qualified individual associated with each office. You can also speak to one at your local bank, such as Chase, Wells Fargo or Citi. It is the same as a any 2 people buying a home, you are looked at as individuals as your credit worthiness and ability to re-pay the loan.

Contact me if looking in Morris Co and I will be happy to set up an appt for you. It is the 1st logical and necessary step in purchasing a home.

Dear Tara:
Your first step is to contact a mortgage expert (Frank Approvato of Home Capitol Network 1-800-332-1506 x605) to see if your purchasing power is better individually or combined. Then you can purchase as either tenancy in severalty or tenancy in common. The former treated as married and survivorship to the other, the latter as seperate partnership a survivorship goes to the act of the will. (better for non-married especially if there is a split up) Also on any you can add a name or subtract a name by a vehicle known as a quit-claim deed.
Nonetheless, you should also confer with an attorney and of course a Realtor that can assist you. If you like, you can call me to help.
Good luck

Hi Tara,

I agree with Jeanne. I know people who have purchased before getting married. The strength of your buying power will come from one or both incomes. Whether you decide to put everything in one name or the other and can support the mortgage, I don't think it's an issue. Once married, you can make changes but the state of NJ recognizes everything fifty-fifty. I would suggest you have everything in both names for better financial strength and security. Best of luck.

Hi Tara, I worked with a couple in a similar circumstance and they opted for only one to be on the contract and the mortgage - HOWEVER, the big difference was that they were still engaged at the time of close. Plus they were able to qualify for the mortgage on the strength of one.

If you are counting on both salaries to support the mortgage than I think you buy and finance in both names. You can always make a change should you decide to take your husband's name after the wedding.

I've got two suggestions here - talk to a good mortgage rep and a good real estate attorney about the particulars. I can make a suggestion on both fronts if you'd like - just reach out to me via Trulia or my website http://www.feenick.com

Incidentally I'm working with a young couple now on their home search in the greater Morristown area - price range in the $500-$600K range so I am very familiar with that inventory. If I can help, I'd be honored.

Good luck and best,
Jeannie Feenick
Search and connect at http://www.feenick.com