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If my niece is a co-signer on a mortgage will that count towards her credit rating?

  • August 18 2014 - US
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Answers (3)

Profile picture for CA Direct Lending
Very nice additional points, Dan.  Very important to point that out.
  • August 18 2014
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Profile picture for Dan Tabit
Jaron, 
It will boost her score as the mortgage is paid as agreed, but it will lower her score if they ever fall behind. It will also affect her capacity to borrow in other areas as the mortgage payment will affect her debt ratio as 100% her responsibility.  
Co-signing is co-borrowing and equally responsible for the debt. It is not a small thing and everyone involved should understand this and be fully aware of the pros, cons and limitations this will create.  
 
  • August 18 2014
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Profile picture for CA Direct Lending
Yes, it will.  I would recommend that whomever is responsible for the payment, that all parties have access, if possible, to log in online to ensure that each payment is being made on time since any late payments will also negatively affect everyone who is on the loan. 
  • August 18 2014
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