Question about a loan? Please help?
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Let me get this straight - YOU are taking out a loan so you TWO can buy a house? Here is my advice, don't have him sign anything and don't put his name on the mortgage. If you do that and something does happen, well, you're out whatever you consider his "portion" of the loan to be but you still get to keep the entire house. Now, if you make him sign that and everything goes south, he can take half your house because he paid half the downpayment.That assumes partial ownership.
Question about a loan? Please help?I realize your situation and while i'm sure many people have tried to persuade you against this, you sound like you are intelligent enough to make your own decisions.
As for having some security with the house and the money, I think the best thing to do is to put the house in your name only until your boyfriend is out of school and you two are getting married and starting a family. Since the down payment will be your money from the loan, just make sure to document everything. The down payment and the monthly mortgage payments should be made using your bank account so that you can have a paper trail in case anything should go wrong. You will have the documentation of what you have spent on the house. Other then that, you would have to pay a lawyer to get something drawn up.
As for the student loan part of it, I assume you are doing a private student loan for this since it is beyond the scope of cost of education. Check out http://www.thinkfinancial.com if you will taking a private loan. Quick turn around time and the check is sent directly to you. Good Luck with everything.
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