My Fiancé and I both qualify for a First-Time Home Buyer Loan...

[Mike Umscheid]

Because we both qualify as a first-time home buyer, would it be smart to only have one of us on the contract/mortgage in order to leverage the other's "first-time home buyer" status for a future property? What would be the downside for this?

My understanding is you can obviously do this, but it depends if we could qualify for the mortgage on just one of our incomes as opposed to both.

Would love any insight on this - thank you!