Just find a cheap place and live together to save money
Inner-Lawyer-7980 on
Just was curious i want to buy a home currently pv2 making pfc in October have 7500 saved up and no debt i am married and receiving housing allowance with minimal bills
Chiefrhoads on
Technically you can. You would just apply together on a mortgage. If you are using it as a straight investment property (won’t live in it as a primary residence at all), you will have a higher down-payment required. Just know that you and your buddy are both legally obligated to pay. So when you or your buddy decide it is not fun anymore and stop paying the other is still obligated to pay for the whole thing.
I would highly recommend you do not complete this plan. You would be much better off renting and splitting the rent so you can pocket some BAH if that is the goal. You would be getting into business with someone with an asset that is not cheap and quick to liquidate.
3 Comments
Horrible plan.
Just find a cheap place and live together to save money
Just was curious i want to buy a home currently pv2 making pfc in October have 7500 saved up and no debt i am married and receiving housing allowance with minimal bills
Technically you can. You would just apply together on a mortgage. If you are using it as a straight investment property (won’t live in it as a primary residence at all), you will have a higher down-payment required. Just know that you and your buddy are both legally obligated to pay. So when you or your buddy decide it is not fun anymore and stop paying the other is still obligated to pay for the whole thing.
I would highly recommend you do not complete this plan. You would be much better off renting and splitting the rent so you can pocket some BAH if that is the goal. You would be getting into business with someone with an asset that is not cheap and quick to liquidate.