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Who can be a mortgage co-borrower?

Generally speaking, anyone who meets the co-borrower requirements can be a mortgage co-borrower. Requirements can vary by lender and loan type. All loans specify that the co-borrower can’t have a financial interest in the sale of the property.

Can a co-borrower get a home loan?

But if you find a co-borrower, getting a home loan could be much easier. A co-borrower applies for the loan with you, and their credit and income can help boost your eligibility. But that person is also on the hook if you can’t make your mortgage payments. So be sure to check your own financing options first.

Can I add a co-borrower to my mortgage?

VA, USDA and FHA loans all have more lenient credit requirements than conventional home loans, and they are available with lower down payment options. To add a co-borrower to your mortgage, you’ll need to first contact your lender to see if you and your co-borrower pre-qualify for the mortgage.

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