Is there any necessity to combine our financial accounts?

Yes, you are right, a joint account helps you to borrow more money. But, remember, It is a serous step since both of you are liable for the loan.

If your partner doesn’t pay up, you could end up with a lot of debt liability. One more thing, once you have a joint account, your credit file will be linked as well.

What state are you in? Do you live in a community property state? In a community property state, both of you are equally liable for a loan, no matter who borrows it.

Ofcourse, joint account helps to get approved easily. But there are other aspects too that will influence the loan. Are you living in a community property state?

A joint account helps to get approval for a loan provided both of you have good credit record. Anyone of you not having a good credit record may make it difficult to take out a loan at suitable terms and conditions.