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Can I add someone to my mortgage application and only factor in their income, or will their debt and credit score factor in as well?

4 Thoughts on Can a co-borrower be added to a mortgage application without factoring in there credit score or debt?
  1. Reply
    SG Elite
    February 12, 2014 at 3:38 pm

    Co-borrower has similar liability with that of main borrower thus the credit score factor will come in.

  2. Reply
    OC1999
    February 12, 2014 at 3:56 pm

    Nope, they check everything if you try to add somone. Because if you can’t pay they need to make sure that the co-signer has a good history.

  3. Reply
    pop
    February 12, 2014 at 4:25 pm

    No. cosinger on any loan will effect the loan for the most part. depending on who has the better score you can get a better loan with the best as the primary. Though if your a first time home buyer most states have programs you may want to look into that will save you a pretty penny and get ya a nice rate. I went through one in Michigan and had to go to a stupid class for 1 hour four times but ended up with a 180k house and a 4.5% fixed rate and my credit score at that time was only in the 630’s

  4. Reply
    annazzz1966
    February 12, 2014 at 5:11 pm

    What the point of adding a co-borrower? Because your income level is so low you won’t qualify without one? If that’s the case, then find a house that’s more in your price range or wait until you have more money in savings and a better job.

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