Will being a guarantor of my brother’s mortgage affect my ability to get my own loan or mortgage?
Does being a guarantor on someone else’s loan count as a loan obligation on my personal credit statement? Or would it only count against me if my brother defaults and then I have to pay for the loan? I think I’ll need to get a bigger mortgage in a year, but don’t want his mortgage to hinder my own credit/loan maximum. Thanks!
This is not being a co-signer…I know that that counts against you as if it was your own loan. This is to be a guarantor. Thanks.