So I'm applying for loan, and he is my coborrower. Our credit is fair. We don't have any debts or dues.
We're currently renting from a private landlord. She is crazy. We need to move. Getting an apartment seems expensive. We have 2 more couples that want to move and would be willing to split rent for a 3-4bedroom house. My boyfriend and I think it would be in our best benefit to buy a house.
I don't know how mortgages work and even though I'm researching them I still don't really understand.
Let's say we get a loan of 100,000 dollars.
The house we want costs 89,000. What would the mortgage be?
Also we're in our early 20s. I don't feel like this is a mistake, but are we making a mistake? We would like to move to a different state eventually and figure we can sell our mortgage when we're ready if we're able.
Read more: https://allmortgage.net/forum/boyfriend-and-i-are-ready-to-move-we-were-thinking-of.html
