Is-it financially smart to have my personal girlfriend and i also locate our own FHA funds for separate attributes ahead of marrying?
My personal girlfriend (22) was a nurse and that i (22) are currently during my a year ago out-of undergrad for BS inside the Desktop Science. I want to buy a home with regards to leasing or having fun with since the a keen Airbnb to greatly help establish upcoming financial freedom. I am trying to know in the event it will be a wise monetary decision if i would be to score a keen FHA loan towards an investment property when you are my personal girlfriend was to rating that loan on the a different assets in which we would live.
- one another my girlfriend and i possess a credit rating more than 770
- You will find conserved and will continue steadily to conserve enough money to place a deposit to your an excellent 250k assets and when the FHA advance payment might possibly be more or less 5%
- we really do not plan on to get a house to one another to possess within least a couple of years therefore the money spent will be ordered much ultimately (we would also get married before purchasing our personal domestic and you will I’m not sure exactly how which can apply at so it whole process)
- and in case i qualify for these FHA loans, the area and kind of assets my personal girlfriend wants for our future house might be roughly 600-700k (i live in Ca??)
I know my personal matter reveals particular lack of knowledge on how real-estate paying performs; I am trying learn as far as i can, and that i have numerous significantly more concerns.