Asked by Tiffany, • Mon Aug 20, 2012
My boyfriend and I are trying to apply for a home loan. I am in my late 20's and my boyfriend and I have been together for 10 years but do not wish to ever get married. I am in the Bay Area where home prices are out of control but I have saved 25k and I have near perfect credit. Never had debt in my life and pay everything either on time or if it is a credit card, I charge my card one day and two days later log online and pay it off so as to never let the debt sit too long. I had a 780 last I checked 6 months ago. My boyfriend on the other hand has no credit but no debt, just nothing. We just got him a credit card 2 months ago but I know it takes a year in some cases to start building a score. I want to include both of our incomes in the loan pre-approval process but I don't know how much trouble his credit or lack of credit will be if my credit is perfect. what should I expect with the loan? I have to wait something like 2-3 weeks for the LO to get back to me, that is why I am asking
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