: Agree on how to split monthly costs like the mortgage, taxes, utilities, and maintenance (e.g., 50/50 or proportional to income). 2. Choose the Right Title Structure
: You can both be on the title (deed) even if only one person is on the mortgage. 4. Tax and Insurance Considerations
Applying for a mortgage jointly can increase your buying power, but it also carries shared risks. unmarried couples buying a house
: You can own unequal shares (e.g., 70/30). If one partner dies, their share goes to their chosen heirs rather than automatically to the surviving partner.
: Explicitly state who provided the down payment and how equity will be split if the home is sold. : Agree on how to split monthly costs
: Consider taking out life insurance policies naming each other as beneficiaries. This ensures the surviving partner can cover the mortgage or buy out the deceased partner's heirs if necessary.
: Lenders typically use the lower of the two credit scores to set interest rates. If one partner has poor credit, it might be better for the other to apply alone. If one partner dies, their share goes to
Unlike married couples, whose property rights are often defined by state law, unmarried partners must explicitly document their intentions.