Submitted by PinkMitsubishi t3_xtpq9t in personalfinance
My fiancee and I are planning on buying a house together once we get married (in 2-3 years). However she just moved to the US so she has no credit. She just opened a credit card with a $1,000 limit and we buy pretty much everything with that card thinking it will help her build credit fast. My credit score is in the low 700s.
We both have stable and well-paying jobs. I have about $40,000 saved right now and will keep saving until we buy a house. She doesn’t have any money saved and we don’t know if her parents will help financially.
I was recently pre-approved for a $350,000 house but I want to buy a house with her when we get married since it will give us a lot more options and buying power.
I could just buy a house by myself right now and have her pay “rent” but we thought if we buy together we’ll be able to afford a more expensive house later on.
Are we doing this right? We don’t have debt or other crazy expenses. When will she get her credit score? Anything else we need to know about? Thanks in advance.