How to Get a Mortgage with a Cosigner

Mortgage Newsletter
Privacy Policy

Check Local Mortgage Rates

Today's Average 0.00%



Loan Program Choices

Use our calculator to find out your estimated monthly payment in advance: Enter the loan amount, interest rate, and length of mortgage.
Try our Mortgage Payment Calculator


When you want to purchase a home, but you have no credit or some damaged credit, you may want to apply for a mortgage with a cosigner. Your cosigner must have excellent credit and a solid employment history in order to qualify for the loan.

Step 1--Discuss the Mortgage with Your Cosigner

If you default, the responsibility falls on the cosigner to make the remaining payments on time, or he risks having to face foreclosure. Make sure your cosigner understands his obligation before you ask him to sign with you.

Step 2--Contact Your Lender

Find out if the lender accepts a cosigner, since many will not on a mortgage. Ask the lender what down payment they require on the loan to make sure you have enough saved before you go through the loan process.

Both you and your cosigner will need to fill out mortgage loan applications and submit them to the lender for review. If you are both approved, arrange a time to close on the loan.

Step 3--Close on the Loan

While you are closing on the loan, make sure your cosigner is aware of the monthly payment amount and date, so he can follow up with you to ensure you are paying the loan on time.