Dating someone with poor finances
Consider this: With a home mortgage, 90% of lenders are required to use the lowest credit score between both borrowers, notes Jennifer Beeston, a loan specialist with Guaranteed Rate Mortgage.“That means if your score is 800 but your partner’s is 650, we are pricing your loan at 650,” she says.“It’s always amazing to me how talking about money and credit can be considered taboo even with our most intimate acquaintances,” says Beeston.If your new significant other backs away from those discussions, he or she may have something to hide, she says.In fact, there’s a strong case that credit health should be a big factor in evaluating a romantic partner.
Yet many relationships can’t take flight until both parties have a candid discussion about money.
You’ll also want to take notice if your new romantic companion leads a very lavish lifestyle, but is in a job that does not seemingly provide enough income to support that lifestyle, Beeston says.
“Credit is very important in that it will determine the price you pay for the largest purchases in your life,” she says.
If someone recently got divorced or filed for bankruptcy, it will come out eventually, says Julie Spira, a relationship and dating coach.
“If your new dating partner blames the bad credit on their ex-spouse, it should raise both eyebrows,” Spira says.