Richard's Real Estate Thoughts - Fairway Independent Mortgage Corporation NMLS #2289: Does a cosigner help with qualifying for a mortgage?

Does a cosigner help with qualifying for a mortgage?

Cosigners can help some buyers qualify for a home purchase. Typically what is intended with the word cosigner is more technically called a non-occupant co-borrower. This is a person who will sign as a borrower on a loan that is used to purchase a primary residence for the primary borrower.

Non-occupant co-borrower can help with qualifying income. They typically cannot help to compensate for the primary borrower’s non-qualifying credit.

Loans that allow for considering non-occupant co-borrower income are helpful for borrowers whose own income is too low to qualify for their purchase. Often a parent can help a child who is a student, as one frequent example.

The non-occupant borrower’s credit must qualify and both borrowers’ debts will be included in the debt payment to income calculations.

Often non-occupant borrower is added to help with FHA mortgage qualification. Some conventional loan programs also allow for non-occupant borrowers.

Please contact me with any questions about your home purchase.

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Richard Smith
NMLS# 184479 TN# 104002 Georgia Residential Mortgage Licensee, GA#28928
Conventional, FHA, FHA 203k, HUD $100 down purchases, VA,
Rural Development (USDA), THDA and Jumbo Loans

Loan officer helping home buyers in Tennessee and Georgia for over 20 years.

Fairway Independent Morgage Company
NMLS #2289
Chattanooga, TN

Cell phone: 423-280-0345 Email:

Visit my website to inquiry about a home loan.

This blog represents the opinions of Richard Smith. The posts and comments written on the blog do not represent the opinions or positions of Fairway Independent Mortgage Corporation.

Comment balloon 2 commentsRichard Smith • September 22 2016 10:39AM


This is very good information to share with prospective mortgage borrowers.

Posted by Roy Kelley, Roy and Dolores Kelley Photographs (Realty Group Referrals) over 1 year ago

Good information to know for buyers lacking the income they my need to close a purchase. 

Posted by Debe Maxwell, CRS, Charlotte Homes for Sale - Charlotte Neighborhoods ( | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) over 1 year ago