Pre-approval for a partner and I

[Anh Le]

Hello all,

My friend and I are planning to buy an investment property together, and we are going to the pre-approved process right now. Do we need to through it as one application? Or, I  can get pre-approved on my own and he can get pre-approved on his own. For example, I can get pre-approved for 200k and he can get approved for 200k, so if we decide to buy an investment property together we will have 400k as pre-approved. Please give me advice on the process of buying property together with a partner. 

Thank you!

Anh  

[Brooke Noth]

Hi Ahn,

You'll both be on a single 400k application, just in different groups on the form.  This streamlines the process for purchase and takes into account both incomes, assets and liabilities on one form. 

Hope this helps!

Brooke