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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?

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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.