Legal Question in Real Estate Law in Pennsylvania

Re: Mortgage questions

You asked about buying a home with a person with who you would be living.

No. You need to be able to afford the mortgage on your own. We see this again and again where unmarried couples purchase a home and twist up the finances.

Unless you're married do not try to co-own a home. This isn't about the morality of marriage versus shacking-up. I don't care. This is about providing a minimized risk environment to all parties.

Instead of trying to do some silly promissory note, that won't work, create a tenancy. This gives both you AND her more protection and rights to the property. Depending on your credit and the lender you may be able to count the agreed rent as part of your income to qualify for the mortgage amount you want.

This also solves the nasty problem that will arise because a mortgagor will not allow a non-party to be on the title.

Have an attorney help you through this.

Regards,

Roger