All mortgages will at least have one Borrower who is responsible for repayment of the loan and will take title (ownership) to the property. When an additional borrower is added to the Mortgage, this person is consider a co-borrower. For example, let’s assume there is a married couple named Sam and Alex Smith who wish to jointly apply for a mortgage. Sam is the breadwinner so their loan officer decides to list him first on the application as the borrower. Alex is then listed second on the application as the co-borrower. Both the borrower and co-borrower are responsible for repayment
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