Using a CoBorrower Just for One Year

So you found the perfect home, but now you have to ask someone to “cosign” for you - it’s humiliating and it’s a hard sell when they realize you are asking them to be on board for 30 years!

But what if you only needed them to cosign for one year? Well now, that’s different. If someone asked you to cosign a loan for them and to be on the mortgage for 30 years you might say yes, but you would probably want to say (or you actually would say) “No”. But what if they only needed you to cosign for 12 months? You would probably give them an easy “Yes”. Almost everyone would say “Yes” to that!

So, take the time to learn how to be able to make that offer so you can get your cosigner to say “Yes”. Or reward the cosigner you already have by taking them off the mortgage within the next year. You will be the favorite son/daughter/nephew/niece/cousin!

See below for mortgage credits earned with this purchase.