cosigner

You’ve probably heard of a cosigner on a student or auto loan. Did you know that you can have a cosigner on a mortgage too? While not all loan programs are eligible for a cosigner, having one may improve your ability to get pre-approved for a mortgage. That’s because a cosigner’s income is included when your lender determines how much house you can afford.

IMPORTANT LINKS TO CONSIDER:

Mortgage Calcuator

Application Wizard

Homebuyers Loan Guide

For Specific Questions Contact Us: www.GuildMortgage.com/jasonammann Jason Ammann NMLS #126651 Loan Officer. I am authorized to do business in the state of New Hampshire. Guild Mortgage Company. Equal Housing Opportunity. NMLS #3274 NMLSConsumerAccess.org GuildMortgage.com/licensing  All loans are subject to underwriter approval, terms and conditions may apply.  Subject to change without notice.

For Business Inquiries, please contact me first at jason.ammann@guildmortgage.net

603-310-5329

www.GuildMortgage.com/JasonAmmann

Applying for a mortgage? Can't meet all the financial requirements? In this episode, we discuss how a mortgage cosigner can help and when to use one. We also explore if there are limits to how many cosigners a mortgage can carry as well as the financial/credit impacts to the cosigner. Finally, we look at how to get a cosigner off your mortgage and if you need to go through another approval process. 

  

Prefer to watch the video or read and take notes? See the transcript:

https://stories.brookfieldresidential.com/homebuyersschool/what-are-the-mortgage-cosigner-requirements-in-canada

 

 We discuss the following items: 

• How does a mortgage cosigner work and when to use them
• Are there limits to the number of cosigners on your mortgage?
• Financial/credit impacts to a cosigner
• Are a cosigner and coborrower the same thing?
• What if a cosigner has bad credit?
• How do you get a cosigner off your mortgage?
  • Do you need to go through another mortgage approval if you do?

 

Have any questions or show topic suggestions? Contact us:

Email:

support@homebuyersschool.ca

Web: homebuyersschool.ca

Here are things we can learn from a grandmother who cosigned for her grandson. What could she have done to protect herself. For more information read http://www.newhorizon.org/credit-info/never-co-sign-grandmothers-dilemma/ Looking for bad credit personal loans? Apply here http://www.newhorizon.org/Info/personaloans.htm

You changed your mind, you don’t need to be on your friend or relative's loan as you don’t trust their capability to pay or it’s impacting your capability to get credit. Here's how to removed yourself as a cosigner http://www.newhorizon.org/credit-info/removed-financial-obligation-cosigner/