Structuring a Partnership Deal

[Zack Pirulli]

Hey All,

I am in talks with a friend of mine to partner up on a deal. We will be splitting the cost of the down payment 50/50 but only her name will be on the mortgage (most of my income is commision making qualifying difficult). But both of our names will be on the deed. Since my name is not on the mortgage, will it still show up as debt for me when I go to get approved for the next house? Or will it not show up because I am only on the deed?

Thanks!

[William Harvey]

Zack, since you're not on the loan it won't show up on your credit report. Being on title to the home has nothing to do with your credit so you'll be good next time you go to get pre-approved. I'm a former loan officer and this is a very good and common question. Hope this helps!