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Mortgage Co-Signer vs. Guarantor | Scott Dawson
(778) 668-9320 [email protected]

From time to time I’m asked, “What’s the difference between a Co-Signer and a Guarantor for a mortgage?”

What is a Co-Signer or Guarantor for a mortgage?

Basically, a co-signer is a co-owner, he/she is registered on the title and is equally accountable for payments. While a guarantor personally guarantees payments will be made if the original applicant defaults, but he/she has no claim to the property because they’re not on title.

Typically a co-signer will be on an application if additional income is needed for debt servicing. A Guarantor will be used if the main applicant has certain credit blemishes or hasn’t established credit.

Want to get pre-approved for a mortgage?

Getting pre-approved is easy. Once your application is completed we’ll be able to lock in your rate for up to 120 days.

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