Get the letter right before you make the offer
Preapproval with a co-buyer
Desk answer
When two people apply, the lender reviews both credit histories, incomes and debts. A co-buyer can raise qualifying income but also adds their debts. Decide early who will be on the loan and on title.
Last reviewed against the primary sources listed below.
Discuss
- Who will be on the loan.
- Who will be on title.
- How payments will be shared.
Questions buyers bring to the desk
Can two people get preapproved together?
Yes; the lender reviews both.
Does a co-buyer's debt count?
Yes, their debts are included.