2. The co-payer must have a certain income, and provide proof of income source, bank statement and personal credit record.
3. The co-lender must be the husband and wife or parents of the borrower, and the sum of the monthly income of the co-lender and the borrower is more than twice the monthly repayment amount.
It must have the same loan conditions as the borrower. For example, the continuous payment of housing provident fund cannot be less than six months, and there is no housing provident fund to repay debts, and there is no outstanding debt, which may affect the repayment of housing provident fund loans and other debts.
What are the advantages and disadvantages of mortgage co-payers?
1. Your name is written on the property certificate, and he is the guarantor. If you write down your name, the ownership of the house will be yours.
His name is written on the real estate license. He will buy a second suite in the future, which will have a little impact on his mortgage (bank loan interest)
If the co-payer cancels, of course, the loan must be paid off. If you have 20w in hand in advance, you can go to the bank to pay it back, and the interest in the later period will be gone. If you add his name and change it to your new name later, you will have to go to the local housing authority to change the ownership (in this case, it will be regarded as a half transfer).
Co-payers are generally immediate family members of borrowers under the same account, such as parents, children, brothers and sisters or shareholders of companies and corporate legal persons with economic contacts, which are similar to but different from guarantors. It can directly ask the co-repayers to fulfill their obligations to repay the borrower's bank debts without legal procedures when the borrower is unable to repay the bank debts. Generally, the co-repayer thinks that the borrower's repayment ability is insufficient, and there is a possibility that he can't repay in full and on time, so he asks the borrower to find a co-payer.