Should I Become a Co Borrower and Co Owner to Help My Child Qualify for Financing 1

Should I Become a Co-Borrower and Co-Owner to Help My Child Qualify for Financing?


As the price of real estate continues to steadily rise in Ontario and as mortgage qualification rules continue to become more restrictive, an increasing population finds themselves unable to purchase a home without assistance from loved ones. In order to satisfy lenders who are ever sensitive to the risk of default, many parents choose to add themselves as a co-borrower and co-owner to diffuse the risk for the lender.