{"id":14389,"date":"2024-01-16T12:39:53","date_gmt":"2024-01-16T12:39:53","guid":{"rendered":"https:\/\/eiendomsfinans.no\/co-borrower\/"},"modified":"2024-12-13T13:43:40","modified_gmt":"2024-12-13T13:43:40","slug":"co-borrower","status":"publish","type":"page","link":"https:\/\/eiendomsfinans.no\/en\/co-borrower\/","title":{"rendered":"Co-borrower"},"content":{"rendered":"\n
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What is a co-borrower?<\/h2>\n\n\n\n

If you apply for a loan together with someone, this is called co-borrower and main borrower.<\/strong> You will be equally responsible for the loan being paid<\/strong> . The co-borrower is usually a cohabitant or spouse, but it can also be parents, siblings or friends.<\/p>\n\n\n

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What does it mean to be a co-borrower?<\/h2>\n\n\n\n

A co-borrower is liable together with and on an equal footing with the main borrower. Both the main borrower and co-borrower are responsible, individually, to the bank for the loan to be paid. <\/p>\n\n\n\n

What is the difference between being the main borrower and co-borrower?<\/h2>\n\n\n\n

The main borrower is the person who is number 1 on the loan. When it is a loan that cohabitants or spouses have together, it is often the person with the highest income that is number 1. The person who stands as number 2 is a co-borrower. In cases where one party is under 34, while the other is over 34, it is beneficial for the youngest to be number 1. Then the whole loan will be able to get good interest with a YOUNG MORTGAGE LOAN<\/a><\/strong> .<\/p>\n\n\n\n

When you are single or as a couple you do not have enough income to get the mortgage you need, for example parents can be co-borrowers. If you also do not have enough saved equity, you will also need a mortgage. It is possible to be both. A co-borrower is thus jointly and severally liable for the loan, while a guarantor is only liable after repeated attempts have been made to obtain settlement from the borrowers.<\/p>\n\n\n\n

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What is a real estate agent? – read more here<\/a><\/div>\n<\/div>\n<\/div><\/div>\n\n

How much can you get in a loan with a co-borrower?<\/strong>Total debt (including all other debt) cannot exceed five times gross total income. If you are 1 person with an income of 500,000, you can have a maximum of 2.5 million in debt. If you also have a co-borrower who has 500,000 in income, you can have a total of approx. 5 million in debt. Then it is easier to get into the housing market. <\/h2>\n\n
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Can you remove yourself as a co-borrower?<\/strong><\/h3>\n\n\n\n

You can apply to remove yourself as a co-borrower if the income of the person who remains and will keep the loan is good enough. <\/p>\n\n\n\n

A good enough income means that the debt the person concerned must service alone is not higher than five times the annual gross income. If this is not possible, the home must be sold and the loan repaid.<\/p>\n\n\n\n

It is therefore not sufficient to only have a real estate surety if the income is not high enough in relation to the debt. The co-borrower contributes to the overall income being high enough to service a debt of a maximum of 5 times gross income. The real estate guarantor contributes to ensuring that the security for the loan is within 85% of the value per housing.<\/p>\n\n\n\n

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Apply for a loan with a guarantee here<\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n\n
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Mortgage UNG (Boligl\u00e5n UNG)<\/a><\/strong><\/h2>\n\n\n\n

The best interest rate for those under the age of 34<\/strong> .<\/p>\n\n\n\n

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