I want to buy a house. I have 20 grand but bad credit and a long term boyfriend with no money and good credit. What is the best option? I want to buy a house next year but my FICA/ credit score is really low due to a delinquent credit card debt that I was carrying after college. At one point I was over 20,000 in the hole. I thought I was doing the right thing by closing out all of my credit cards and living only by debit card. I have come to learn that not having a credit card can bring down a credit score. I do get those “pre-approved” offers in the mail, but I stopped applying for them when I kept getting declined.
Today, I am debt free and have moved beyond the paycheck to paycheck period and have even been able to save about 20 grand (now in CD’s and high interest savings account) I live with my boyfriend for 4 years. He has a great credit rating, but does not have any money to add to the deposit on the house. (He’s a full time student) It is tempting to use my money and his credit score to buy the house, but without us being married I feel a little vulnerable with that option. (Are there downfalls to owning a house and not being married?) I really want to be able to do it on my own without being screwed by high interest rates. Anyone have any suggestions?