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Co-borrower

What does Co-borrower mean?

 

Co-borrower :
If more than one person will be responsible for repaying the loan, the second person listed on the application is the Co-Borrower. If there will be more than one borrower, either one can be listed as the borrower and/or co-borrower, but the borrower's name must appear on the deed to the property being purchased. For VA loans, the individual with VA certification must be listed as the borrower, not the co-borrower.

 

Interpreting jargon like Co-borrower can be very daunting. Hopefully we have helped you to understand Co-borrower a little better. Do visit DGC Services again.

 

No problem understanding Co-borrower so how about Application

 

 

What Not to do when taking a mortgage or loan

Don’t fall for a loan from a door-to-door salesman or home improvement contractor who comes to your home. Don’t take out a loan on your property for anyone else unless you can afford to lose that money forever. Don’t decide whether you can afford a loan by the monthly payments alone. Don’t sign anything that has blank spaces. 

If you’re like most homeowners, your house is the most important and valuable thing you own. The money you’ve put into your home can enable you to borrow money with a home equity loan. Your home secures the loan—unfortunately, you can lose your home if you are unable to make the loan payments.

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