CONTACTStaffCAREER OPPORTUNITIESADVERTISE WITH USPRIVACY POLICYPRIVACY PREFERENCESTERMS OF USELEGAL NOTICE
© 2024 Pride Publishing Inc.
All Rights reserved
All Rights reserved
By continuing to use our site, you agree to our Private Policy and Terms of Use.
The thought of jumping into homeownership today can be daunting, and with so much uncertainty about the current legal policies and specific rights, gay couples must make different considerations. A few simple steps (using Warren and Brian as examples) can ease some anxiety.
Divvy Up the Down Payment
Warren may make more money than Brian. If the down payment and closing costs total $65,000, and Warren puts up $50,000 and Brain kicks in the remaining $15,000, that's OK. It doesn't have to be equal amounts, because you are now going to begin keeping a running total of the money that each person kicks in from the day of your purchase -- and that running total will help you decide each person's share of the proceeds, should you sell or part ways.
Get the Mortgage With One or Both
While it's great to have both of you share the responsibility of the mortgage, will the combination of both your financial pictures help or hurt the possibility of getting the loan? If Warren's got great credit, but Brian has maxed out all his cards, then Warren may have to fly solo on the mortgage.
"Joint" at the Hip
How you "take title" is actually just the manner in which you determine the person, people, or entity that will legally own the house. I usually recommend you take title under both your names in joint tenancy. This allows you and your partner to hold title with equal rights, and if one of you dies, the other is granted ownership of the house. That way you won't have to fight for it with your partner's suddenly reappearing long-lost brother Barry. However you take title, find a lawyer, and put it in writing.
Get it Up Front or Dump Him
If you're not able to have these discussions with each other and aren't adult enough to draw up an agreement before you buy, then rethink building a nest with this guy or gal.
Want more breaking equality news & trending entertainment stories?
Check out our NEW 24/7 streaming service: the Advocate Channel!
Download the Advocate Channel App for your mobile phone and your favorite streaming device!
From our Sponsors
Most Popular
Here Are Our 2024 Election Predictions. Will They Come True?
November 07 2023 1:46 PM
Meet all 37 of the queer women in this season's WNBA
April 17 2024 11:24 AM
17 Celebs Who Are Out & Proud of Their Trans & Nonbinary Kids
November 30 2023 10:41 AM
Here Are the 15 Most LGBTQ-Friendly Cities in the U.S.
November 01 2023 5:09 PM
Which State Is the Queerest? These Are the States With the Most LGBTQ+ People
December 11 2023 10:00 AM
These 27 Senate Hearing Room Gay Sex Jokes Are Truly Exquisite
December 17 2023 3:33 PM
10 Cheeky and Homoerotic Photos From Bob Mizer's Nude Films
November 18 2023 10:05 PM
42 Flaming Hot Photos From 2024's Australian Firefighters Calendar
November 10 2023 6:08 PM
These Are the 5 States With the Smallest Percentage of LGBTQ+ People
December 13 2023 9:15 AM
Here are the 15 gayest travel destinations in the world: report
March 26 2024 9:23 AM
Watch Now: Advocate Channel
Trending Stories & News
For more news and videos on advocatechannel.com, click here.
Trending Stories & News
For more news and videos on advocatechannel.com, click here.
Latest Stories
Biden will hammer Trump over abortion bans in Florida speech
April 23 2024 5:00 AM
Tristan Snell, who brought down Trump University, sees conviction in hush money case
April 22 2024 7:36 PM
Joe Biden admin marks Earth Day with major environmental initiatives
April 22 2024 4:18 PM
Texas Gov. Greg Abbott: 'We want to end' trans and gender nonconforming teachers
April 22 2024 4:13 PM
Nonbinary 17-year-old killed two years after being reported missing
April 22 2024 3:46 PM
Pride
Yahoo FeedIndulge in luxury and sensuality with The Pride Store’s Taurus gift guide
April 22 2024 11:46 AM
The gay man leading the Earth Day Initiative offers hope for the future
April 22 2024 9:00 AM
Pattie Gonia takes drag and fierceness to Capitol Hill to voice environmental concerns
April 22 2024 8:23 AM
Jodie Foster leaves her mark in cement at L.A.'s Chinese Theatre
April 22 2024 7:55 AM
Climate change has a bigger impact on LGBTQ+ couples than straight couples. Here's how
April 22 2024 7:42 AM
Iraq postpones vote on bill punishing gay sex with death
April 20 2024 1:31 PM
Russian poetry contest bans entries from transgender poets
April 20 2024 1:25 PM
Here's who won 'RuPaul's Drag Race' season 16
April 20 2024 1:01 PM