CBWR - Co-Borrower

The definition of mortgage term: Co-Borrower

A secondary applicant who shares the responsibility of the mortgage. A co-borrower can be used if one individual does not have a suitable debt-to-income ratio. The co-borrower's income as well as debts will be included when calculating the DTI. They will also need to have a satisfactory credit score and not have defaulted on any government loans.

 

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