mortgage co signer (loan, credit, loan, property)

[Jonny88]

I have excellent credit and stable income. However, since I already have a house, I don't qualify for another mortgage....d to i. My brother will co sign, but the mortgage lender says he has to be on the deed. I've never heard of that before. He's a co signer not a co borrower.

[FalconheadWest]

A co-signer is a co-borrower. Your brother has to qualify for the loan just like you do. You will be co-owners of the property.

[Mainer61]

I've never heard of that. I've done a lot of loans for customers where two sign the loan documents, but only one signs the deed.

[399083453]

You should not be asking your brother to co-sign. Your on the road to destroying your relationship with your brother.

That said..... your brother would be insane to co-sign without being on the deed as well.

[SmartMoney]

OP, the reason is simple. All owners of the home, must pledge the home as security for the mortgage note. If he is not on title, he cannot do that.