can i add a co-signer or co-borrower to my home loan?

Question

it's been 4 years that my mortgage is only under my name, i just want to find out if i can add a co-signer.

Answer 1

Only with the bank's permission, and they would want to know why you are adding them on.

The reason is sometimes people will try to do this as a backdoor way to sell a house to someone who can't get their own financing.

The bank will require that the cosigner/coborrower have good credit.

Answer 2

Yes you can add a co-signer and seems for me that you are looking for a home loan. Home loans are now available to many people for whom they would have been out of the question just a few years ago. You’d be in much better shape to bargain for better interest rates if you had a more impressive credit history, but if the house you want is the deal youinterest rates, get bigger returns on the money loaned, and the borrowers get a homes in which to build equity, and chances to restore their credit records so that the first bad credit home loans they take will also be the last!

Answer 3

JOY Bad deal . only person to add to the house would be your spouse and then only after u reQualify for a new mortgage.
banks are in tight space now, u don't want to do it.
adding any one except a spouse to new mortgage is financial suicide. ask any smart attorney

Answer 4

I don't understand why you would want to do that. Why do you think you need someone else to agree to take the liability of your loan along with you? Are you getting ready to default and think someone else will pay it for you? What are you thinking?

Answer 5

yes you can, I don't understand why someone would want to be added as a co-borrower unless they were also added to the deed.

Answer 6

Refinance and add a co signor at that time.