You can get a mortgage on your own even if you’re married, but sometimes it helps to have your partner as a co-borrower when you apply for one. MortgageHippo has a neat interactive tool that tells you if it makes sense for your situation.

We’ve told you about MortgageHippo before. They walk you through the entire homebuying process, and applying for a mortgage is a major part of that process. Here’s what they say about co-borrowers:

As far as mortgages go, there are only two positive things a co-borrower can bring to the table: income and assets.

Many people mistakenly believe that credit score is also something a co-borrower can bring to the table, but this, unfortunately, is not the case.


Yup. Lenders typically use the lower scoring borrower’s credit to underwrite the loan; so even if your co-borrower has stellar credit, but you have poor credit, this co-borrower won’t help at all from a credit perspective.


Credit might not help (in fact, it might qualify you for a lower rate), but your spouse’s income and assets might mean you qualify for a bigger loan. You shouldn’t buy more home than you can afford, but that’s a whole other post.

With MortgageHippo’s tool, you enter your income and credit score, then enter your partner’s, and the tool tells you what your terms will probably look like with and without a co-borrower. Check it out in the post below.


When Should I Add a Co-Borrower to a Mortgage Application? | MortgageHippo