does each of us get a mortgage loan separately and buy the house 50-50?There is one house, there should only be one mortgage. That way the mortgager is assured that should one of you decide to bail, that they still have legal recourse against both of you. Also a mortgage company does not want to be second in line if you are in default. So it would be difficult to find a mortgage company that would give each of you separate mortgages. I would highly recommend that you make an appointment with an attorney to discuss the legal ramifications of the agreement you two have made. It is best to have an agreement such as yours in writing to protect both of your interests. You'll be smart to be prepared for any contingency. For example, what if one of you is killed in an accident.Do the heirs of the other have any right to the the property? Is it better to have joint ownership with rights to the survivor, or be owners in common? What is the financial agreement going to be if one of you becomes disabled and are unable to work for a time? There's more involved here than simply buying a house together. Get the proper legal advice and save yourself some grief in the event problems arise in the future.Best wishes
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