Mortgage Broker Company - Mortgage approval with a co-signer.

A co-signer helps give the lender an additional guarantee.

You co-signer should have a good credit score. This means their credit report will be looked at during the process of qualifying for your mortgage.

The person applying for the loan is responsible for the monthly payments, however, if something happens then the co-signer is responsible to repay the loan.

The co-signer will also have this new debt on their credit report. If the co-signer uses an asset for collateral, the co-signer risks that being repossessed if the payments are not made.

A lender can go after a co-signer just as they can go after the main person for repayment of the mortgage loan.