She can add your name to the deed after the property closes, however your name will not be on the mortgage note. If you put down half of the down-payment, closing costs, and make half the payment.....why not.
All she would have to do is quit-claim a half interest in the property over to you. Should any of the mortgage payments be late or if the property is ever foreclosed on it would only effect her credit and your credit score would be unaffected.
Consider carefully how you would take title. If you take it as ';joint tenants'; that means if one of you died the other automatically gets the property and also you cannot sell your half. Otherwords, you cannot will the property to a third person. If you take title as ';tenants-in-common'; you can will the property on anyone you like and you can sell your half interest to any third person.Is there a website I could get legal advice about residential real estate?
while she can add your name, it is not fair for her to do so.
IF you ever watch Judge Judy, to have two people, one with
good credit, one with not, on a deed, who are unmarried,
forces courts into positions they are not designed to be.
why not just write an agreement between you and gf that
if after 3-5 yrs, you are both still together, you will get a new
mortgage with her.
In the RE contract, she can designate how she is going to take title (this has nothing to do with the mortgage). She can put your name on title.
I would STRONGLY suggest that you enter into some sort of legally binding agreement that states who is bringing what to the table, who is going to pay for what while you live together, what happens if you get married, break up, or if something catastrophic happens to one of you. This is much easier and cheaper on the front end than trying to deal with this down the road or if family gets involved. It will be money well spent.
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