Can I ask someone with a bad credit record to be a co-borrower for a housing loan? Could it possibly affect my credit?
_ SithaANSWERED BY...Teera Phutrakul, CFP, Chairman, TFPA The question is, why would you want to do a thing like that since the chance of loan approval is low to nil for a co-borrower with a poor credit record?
Although your own credit score will not be affected by being a joint borrower, I would recommend you find a new co-borrower with a better credit record or, better still, apply as a single borrower under your own name.
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