Question 1

Can two friends buy a house together?

Accepted Answer

Yes — lenders have no restrictions on the relationship between co-borrowers. Both friends' incomes, debts, and credit scores are evaluated. The practical challenge is agreeing upfront on how costs are split, how decisions are made, and what happens if one person wants to sell or can't pay. A written co-ownership agreement before purchase is essential.

Question 2

How do you split mortgage payments between roommate buyers?

Accepted Answer

Most commonly split by ownership percentage — if you own 60% and your co-buyer owns 40%, you pay 60% of the mortgage. Some co-buyers split equally regardless of ownership. Others split based on who uses more space. Document whatever you agree on in a written agreement.

Question 3

What happens if my co-buyer stops paying their share?

Accepted Answer

The lender doesn't care about your private agreement — both borrowers are equally responsible for the full mortgage payment. If your co-buyer stops paying, your credit is affected equally. This is why a co-ownership agreement with buyout provisions is critical — it gives you legal recourse and a clear path to resolve the situation.

Question 4

How do we handle repairs and maintenance as co-buyers?

Accepted Answer

Decide upfront: split all costs equally, split by ownership percentage, or assign responsibility by area. Keep a shared account with a maintenance reserve — $200–400/mo set aside for repairs prevents disagreements when something breaks.

Question 5

Can one roommate buy out the other?

Accepted Answer

Yes — the buying-out party needs to refinance the mortgage in their name alone (qualifying on a single income) and pay the departing owner their equity share. Use the buyout calculator above to see the exact numbers based on current home value and remaining loan balance.

Question 6

Do we need a co-ownership agreement?

Accepted Answer

Yes. A written agreement should cover ownership percentages, how payments and repairs are split, what happens if someone stops paying, how a buyout price is set, and what happens if one owner wants to sell. Without one, a disagreement can force a sale. Have a real estate attorney draft or review it.

Question 7

Can friends with different credit scores buy together?

Accepted Answer

Yes, but the lower score can raise the interest rate or limit the loan programs available. Ask your lender how scores are combined for your loan type, and compare quotes with and without the lower-score borrower to see what the combination costs.

Question 8

Is buying a house with a friend a good investment?

Accepted Answer

It can be — you build equity instead of paying rent, and shared costs make ownership more affordable. Friends who buy together with a clear written agreement and aligned financial goals often do well. Friends who buy on a handshake and don't discuss exit scenarios sometimes end up in difficult situations. The math usually works — the execution requires communication.

Question	Typical answer
Whose income counts?	Both. Combined income raises the price you can afford.
Whose credit score is used?	Lenders look at both scores. A lower score can raise your rate, so check with your lender before you apply.
Who is on the title?	Usually both, as tenants in common, which allows unequal ownership shares.
Who is liable if one stops paying?	Both. The lender can collect the full payment from either borrower.
How do we split costs?	By ownership percentage, or equally. Write down which.

Buying a home with
a friend or roommate?

What if one person wants to leave?

How buying a house with a friend works

Tenants in common vs. joint tenancy

Next steps

Frequently Asked Questions