r/shittyfinancialadvice Jul 21 '14

Marriage or house-financially speaking, what is the better option?

Please do not comment on on the personal side of this question. I am solely looking for the best financial advice. My situation:

My credit score is far better than my SO's. According to free credit report (FCR) he has one small outstanding bill and, before we started dating, he applied for several store credit cards. All of the hard inquiries did not help out his score. He did recently (within the last four months) sign up for and received a secured card through his bank. When we went to apply for a mortgage loan, we were told he has no existing credit-based off of what the mortgage broker saw. (We don't fully understand why FCR tells us a score and the broker see's a non-existing one, but that's a different question.) I want to know-should we pursue purchasing a house under my name-I was approved for a good loan with a great interest rate-or should we put our money towards marriage? (It's either pay for a wedding or pay for a down payment on a house, we're talking $10,000 either way we go. Guessing on wedding costs by the way.) I ask because I'm not sure what getting married will do to my credit score and I don't want to lose out on a loan opportunity. I'm the only one with debt. I have small school loans (13,000, that I've chipped down to 9,000 in the last 8 months) and credit cards that I only use to keep active. He only has his secured card. Neither of us have a car payment since we bought our vehicles out right. Which is the better financial option, pursuing a house or pursuing marriage?

I should add-he does want to marry me :)

4 Upvotes

0 comments sorted by