Co-Borrower & Co-Signer

• Co-Borrower – This person (such as a spouse, parent, or business partner) shares ownership of the home and is equally responsible for the mortgage. Their income and credit history are factored into approval.

• Co-Signer – A co-signer doesn’t own the home but guarantees the loan. If the primary borrower fails to make payments, the co-signer is legally responsible.

Co-Borrower vs. Co-Signer: What’s the Difference?

Feature	Co-Borrower	Co-Signer
Who They Are	Typically a spouse, close friend, or family member	Usually a family member
Ownership of Home	Yes – Their name is on the title	No – They do not own the home
Responsibility for Payments	Shared – Both are equally responsible for making payments	Backup – They only step in if the primary borrower defaults
Effect on Loan Qualification	Combined income & credit improve loan terms	Helps qualify but doesn’t contribute income