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leled03 · Joined: 22 Sep 2008 Posts: 1 1.33 Dollars($)

Is there a way of applying for a mortgage loan and not actually being on the loan? For example, me applying for a loan and using my boyfriends income to get a better loan.

smithsussane · Posted: Tue Sep 23, 2008 12:26 am Post subject:

Hi leled03!

Welcome to the forums!

As far as I know, when you apply for a loan, your lender will check your credits and accordingly your credit score will be determined. If you want to use your boyfriend’s name to get a better loan, then both you will be on the mortgage. He can become the co-borrower of the loan.

Feel free to ask if you have further queries.

Sussane.

Guest

Hi leled03!

I don't think its possible to apply for the loan and not actually being on the loan. You can make him the primary owner of the loan and yourself become a co-borrower. In case he defaults, you will have to pay the loan.

gmakerley · Posted: Sat Sep 27, 2008 9:58 am Post subject:

leled03, you are not allowed to use someone else's information to apply for a loan for yourself and then not be the borrower.

as for annie's recommendation, if you cosign a loan, you are obligated whether or not a borrower defaults. being a co-borrower is no less risky than being the primary borrower.

lisascherzer · Joined: 04 Jan 2008 Posts: 755 1.12 Dollars($)

The lender will check your credit and income. You can add another person if you wish and if so, their credit and income will need to qualify as well.

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