Co-Signer or Guarantor - What's the Difference?

Contact Marko Gelo, he's a Mortgage Broker! 604-800-9593 cell/text Vancouver 403-606-3751 cell/text Calgary Call Marko via WhatsApp homefinancingsolutions.ca With qualifying still tough for many first-time buyers, co-signing — and its often-overlooked counterpart, guarantoring — has become one of the most common ways families help each other into the market. What surprises most people is that a co-signor is on the hook for 100% of the mortgage and it lands on their own credit report, while even guarantors aren't always as protected as they think. In my latest episode, I break down the real difference between the two roles, why a strong income doesn't always mean a stronger application, the industry-wide shift toward registering co-signors (and guarantors) on title, and the exit strategy that means you're not on the hook forever. If you've been asked to co-sign or guarantee a mortgage — or you're thinking of asking someone — listen to this first. CLICK HERE to be redirected to the blog version of this episode. CLICK HERE to be redirected to Mortgagenomics Canada Podcast YouTube Channel CLICK HERE to download Marko's award-winning Mobile Mortgage App! Hosted on Acast. See acast.com/privacy for more information.