How Many Names Can You Have on a Mortgage?

Mike Tassone

19 Apr 2021

Considering utilizing a co-borrower to get a mortgage? In this video, Own Up's Mike Tassone walks you through how many names you can have on a mortgage and the pros and cons of signing with a co-borrower.

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Depending on your circumstances you may want, or need to utilize a co-borrower on your mortgage. A co-borrower is an additional applicant on your loan who becomes a party to the transaction. The benefit of a co-borrower is that you can use that person’s income to qualify, although you also need to account for any debt they may have. Co-borrowers often allow you to afford more home than you might on your own and there are no specific requirements to be a co-borrower, other than they be creditworthy. Generally they are used to help reduce your debt-to-income ratio, so as a rule of thumb, they should bring more income to the table than debt.

Keep in mind that co-borrowers become jointly liable to the debt with you which means that if you do not make your payments, the lender can seek repayment from any co-borrowers on the mortgage.