The Mortgage Files

Nationally syndicated mortgage news and advice from Senior Loan Officer Scott Sheldon.

Illustration showing the financial impact of co-signing a loan on debt-to-income ratio and mortgage qualifications, with a house and motorcycle symbolizing the balance between co-signed debt and mortgage goals

Why Co-Signing a Loan Could Hurt Your Mortgage Plans

By Scott Sheldon / January 15, 2025

Co-signing a loan for someone might feel like the right thing to do, but it can have unintended consequences if you’re planning to get a mortgage or refinance your home. Whether it’s for a friend’s new car or a family member’s fancy motorcycle, co-signing puts their debt on your financial record, and that can cause…

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