I purchased a home in 2005 (with my now ex-boyfriend.) I no longer live in the house and haven't in 3 years. He still lives in the home and

Asked by Melissac, Sanger, CA Tue Dec 6, 2011

pays the full morgage. I would like to purchase my own home. How can I buy a home while I am still on the previous loan?

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4
Shane Milne, Mortgage Broker Or Lender, South Jordan, UT
Tue Dec 6, 2011
In addition to the mortgage payment needing to have been paid on time, you would need to provide documentation that your ex-boyfriend has been paying the mortgage for a minimum of 12 months. Evidence such as cancelled checks or automated savings withdrawals would be acceptable. However if your ex-boyfriend is *NOT* on the loan, then it cannot be excluded from your debt ratio even if he makes the payments since there was no signed obligation by him.

So...

1. He'd need to be on the loan
2. It'd need to be current
3. Evidence that the payments have been made by him for the past 12 months

Shane Milne | NMLS #81195 | Lending in all 50 states
4 votes
Shane, thank you for your advice. Melissa, my client, is a proud owner of her own new home early this year.
Flag Tue Nov 26, 2013
John Arendsen, Agent, Leucadia, CA
Tue Dec 6, 2011
Great answer Shane. If that doesn't get it nothing will.
1 vote
FSBOsuccess, Home Seller, 28590
Wed Dec 7, 2011
It all comes down to your debt to income ratio. And folks, another great reason boyfriends and girlfriends should NOT buy a home together. It VERY often turns out this way.
0 votes
Ryan Smith, Agent, Murrieta, CA
Tue Dec 6, 2011
Hi Melissac,

You wold have to refi off the loan or qualify with the existing debt. Have a lender in your area review your situation and advise.

Good Luck!
0 votes
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