Co-Signer

A co-signer guarantees repayment of a mortgage and lends their credit and income to the application, but typically takes no ownership stake.

What Co-Signer means

Unlike a co-borrower, a co-signer usually isn't on the title and doesn't live in the home. They're fully liable if the primary borrower defaults, and the debt appears on their credit report.

Florida example

A Florida parent co-signs so a recent-graduate child can qualify on a starter condo. The parent's strong income covers the DTI gap, but they should understand the loan counts against their own borrowing capacity.

Related Mortgage Terms