HELOC With A Co-Borrower
Want to add a spouse, partner or family member to a HELOC? At least one HELOC we offer allows a co-borrower who does not live in the home, and another allows up to two applicants.
What a HELOC with a co-borrower requires
Each item below is a requirement or rule of at least one HELOC we offer.
- The first borrower must be an owner of the home.
- A co-borrower who does not live in the home is allowed at one program.
- At that program, the credit score of the highest income earner is the one used.
- At another, up to two people can apply. The lower score sets eligibility and the higher score sets the line size.
- Everyone on title signs the security instrument. Only those whose income is used sign the application and note.
- At another program, every borrower must take title at closing, so co-signers are not allowed.
Two incomes can count
Non-occupant co-borrowers
The stronger score can help
Owners who do not borrow
No co-signers at one
Single-applicant options too
Can You Add A Co-Borrower To A HELOC?
Yes, at more than one HELOC we offer. Who can apply, whose score counts and who signs differ by program.
A co-borrower applies with you and is responsible for the line. At least one HELOC we offer allows co-borrowers, including one who does not live in the home, as long as the first borrower owns the home. That program uses the credit score of the highest income earner.
Another program allows up to two applicants. The lower of the two scores decides eligibility and the higher score decides how large the line can be. On lines over $100,000, it documents income for every applicant, not just the first. For a first mortgage with a co-borrower, see our co-borrower home loan.
Not every program works this way. One takes a single applicant only, though it can verify household income from someone who is not applying. Another requires every borrower to take title at closing and does not allow a non-occupant borrower on a primary residence.
Why use Saxton for a HELOC with a co-borrower
This page is for homeowners who want to apply for a home equity line with a spouse, partner, parent or other family member.
Two Applicants Can Apply
At least one program allows up to two applicants, and another allows co-borrowers more broadly.
Co-Borrower Can Live Elsewhere
At least one program allows a co-borrower who does not live in the home.
The First Borrower Owns It
At that program, the first borrower must be an owner of the home.
Score Rules Differ
One program uses the highest income earner’s score. Another uses the lower score for eligibility and the higher one for line size.
Every Title Holder Signs
Everyone on title signs the security instrument, even when they are not borrowing.
Limits Stated Up Front
One program takes a single applicant only. Another does not allow co-signers or a non-occupant borrower on a primary home.
Hear From Homeowners Like You
Frequently Asked Questions
Straight answers about adding a co-borrower to a HELOC.
Yes, at more than one HELOC we offer. At least one program allows co-borrowers, and another allows up to two applicants.
At least one HELOC we offer allows a non-occupant co-borrower, as long as the first borrower owns the home. Another program does not allow a non-occupant borrower on a primary residence.
It depends on the program. One uses the score of the highest income earner. Another uses the lower of two scores for eligibility and the higher score for the size of the line.
If they are on title, yes. At least one program requires everyone who holds title to sign the security instrument, but they do not sign the application or note unless their income is used.
Not at every program. At least one requires every borrower to take title at closing, so co-signers are not allowed there.
At least one program documents income for the first applicant only on lines up to $100,000, and for every applicant on lines over $100,000.
That works too. At least one program takes a single applicant only, and it can verify household income from someone who is not applying.
Find out what you qualify for
Tell us who will be on the line and we will match you with the program whose co-borrower rules fit.
Get Pre-Qualified- Consumer Financial Protection Bureau, home equity loan compared with a HELOC
- Consumer Financial Protection Bureau, mortgages
Loan amounts, rates, terms, and eligibility are subject to credit approval, asset and income verification, appraisal, and program guidelines. Draw requirements and variable rate terms apply. Program availability varies by state. Not all applicants will qualify. Saxton Mortgage, LLC is an Equal Housing Lender.