Posted on: 21st Jan, 2014 11:52 pm
I need to know if a co-signer of a mortgage has to be related to the borrower?
Hi Guest,
It is not mandatory for the co-signer to be related to the prime borrower of the mortgage. However, it will be better if the co-signer has blood relations with the borrower.
Thanks,
Jerry
It is not mandatory for the co-signer to be related to the prime borrower of the mortgage. However, it will be better if the co-signer has blood relations with the borrower.
Thanks,
Jerry
It really depends on if they will live in the home - for FHA a Non Occupant Co Borrower must be family or have a family type relationship with the borrower -
Good Luck
Brian Barnes
ENG Lending
50 States Lender
Good Luck
Brian Barnes
ENG Lending
50 States Lender
Doesn't matter altogether but it is certainly better if he has blood realtions with you. An unknown person or a friend might react in a different way altogether in case you fail to make payents.