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Me, my boyfriend and my daughter have found a house that’s in our price range. We have consulted a mortgage calculator to figure this out and its cheaper than what we pay a month now. However, we had to consult a bank in order to get the loan. The bank claims we need a co borrower. Is there a way around this? If so how? If not, how do I find one?

2 Thoughts on A way around a co borrower?
  1. Reply
    September 12, 2012 at 11:53 am

    You would have to come up with a larger down payment and borrowing less may convince the mortgage company to fore go the co signer.

    A co signer is usually a parent or a sibling with great credit scores and plenty of income.

  2. Reply
    September 12, 2012 at 12:45 pm

    banks require cosigners because they view you as a poor credit risk.

    basically, they don’t trust you with their money. i doubt you’ll earn their trust by looking for loopholes.

    but shop around. you were denied by this bank. it doesn’t mean that other banks will deny you.

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