Buying with a co-borrower
Two incomes, two credit files, two different contributions. We turn that into one budget, and look at what each of you brings.
Situation
You’re buying together, but your incomes, your debts, and what each of you puts into the down payment aren’t the same.
The starting figures
- Combined gross income
- $154,000
- Debts – borrower A
- $620 / month
- Debts – borrower B
- $280 / month
- Respective contributions
- 65% / 35%
What the figures tell us
Your incomes add up, yes, but each person’s debts, credit, and commitments enter the review too. And who puts in how much toward the down payment is an ownership agreement, not a financing question.
Options to compare
We look at the shared budget, what each of you brings, and a price that stays manageable if an expense rises or an income drops.
The trap to avoid
The lender reviews each borrower separately, and either of you can be held responsible for the entire loan. Financing doesn’t replace a legal agreement between you: that gets settled at the notary.
The decision to make
We set a shared budget you can carry. And before the offer, you confirm who contributes what, who owns what, and who answers for what.