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[MA] buying before marriage, TIC title, questions on mortgage

Hey all,
I've been researching the potential of buying a home together with my girlfriend of many years, and we aren't married yet (probably not for some time). I've been researching Tenants in Common and that seems like the way to go, in addition to a thorough agreement written up by a real estate attorney. I do have a question that I haven't been able to get a clear answer on: financing.

Traditionally, it would be a mortgage that we both co-sign. There are some banks offering TIC or "fractional" loans where we could each have a loan to ourselves for our ownership %. These TIC loans carry higher rates and probably aren't going to be what we go with. We are both high earners, are capable of putting plenty down, and I have excellent credit. She has somewhere in the 700's, but only about 3 years of history in the US (she lived abroad for most of her life). She also has had her current job for only a year, while I've had mine for 8. Debt-to-income should be stellar.

If it turns out that it would be beneficial to only use my income / credit for the loan (and I can make the payments solo if things go south), do we both still co-sign? If not, is she legally allowed to be on the title with me if the loan is solely in my name? (Im not particularly fond of this one, but if we went this route and things went south am I able to work into our contract agreement something related to actual equity value when selling down the road so I don't get screwed?)

It's likely that we'll be cosigning, I'm just wondering if it's possible to only consider one person's credit for the mortgage but still have two people co-sign and be liable for it.

Thanks

submitted by /u/Msuix
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/j2bbj7/ma_buying_before_marriage_tic_title_questions_on/
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