How to Apply for a Loan With Your Same-Sex Partner

Whether it's a car loan, a mortgage or a loan for that new sailboat, applying for a loan with your same-sex partner is not exactly the same as applying for a loan with a husband or wife. Here's how to go about it.

Difficulty: Moderately Easy

Instructions

Things You'll Need:

• Financial Calculator
• Bank Account
• Credit Reports
• Loans
• Paper And Pencils

1. Know your partner's level of financial responsibility. You don't want your finances intertwined with the finances of someone who can't balance a checkbook.

2. Assess the level of commitment between the two of you. The loan's term could be two, three, six or 20 years. Are you confident that you'll still be with the same person throughout the loan term?

3. Insist on examining your partner's credit report and make sure it won't keep you from getting the loan or keep you from getting the best rate.

4. Discuss the loan with your partner and make sure you are both in agreement about the need for the loan. If you aren't, it could become a source of resentment and even eventually spell the end of your relationship.

5. Be up front with the lender about your relationship. If the lender is uncomfortable, consider going elsewhere.

6. Ask the lender if the company has experience dealing with same-sex couples. If not, find out why not. If you don't like the answers you get, move on.

on 11/22/2005 It's illegal to discriminate against same-sex borrowers. I do mortgage lending and I specialize in special situations.....whether same sex, credit, no down payment, construction, commercial, etc. Questions? E-mail me at [e-mail]