Mother's Day: Learn how your mother can help with buying a house.

Is it possible to get a mortgage with my mother?

Yes, it is possible to hire a home loan with your mother, either as a co-holder or as a guarantor. This solution can be very useful, especially for those who are starting their financial life and do not yet have sufficient income to obtain the necessary financing.

These are the ways to take out a home loan with your mother:

Co-owner of the credit

• The mother enters as a co-signer, assuming equal responsibility in the payment of the loan.

• Both incomes are considered, this can improve the debt capacity.

• Both are legally obligated to pay the monthly installments.

Fiadora

• The mother is not the holder of the credit, but undertakes to pay the debt if the holder cannot meet the payments.

• It is a common option when the main applicant's income is insufficient.

• The mother will need to demonstrate a stable financial situation and a good credit history.

Read more: Mortgage credit: How to stop being a guarantor?

Advantages of hiring credit with mother

• Easier approval: Combined incomes increase the likelihood of the bank approving the credit;  

• Potentially better conditions: With less risk for the bank, it can negotiate lower interest rates and higher amounts.

• Family support: Having your mother as a co-signer or guarantor can be a great help in starting a new life project.

More attention: There are risks to consider.

Despite the advantages, it is important to note that by signing as a co-owner or guarantor, the mother assumes legal responsibility for the debt. Any default affects both parties, including credit history. Therefore, it is essential to have open conversations and ensure that both parties are able to take on the commitment.

On this Mother's Day, appreciate the support that comes from home - even when the dream is... to buy one.

Also read: Mortgage credit hiring: Essential steps for an informed decision

Before moving forward, evaluate the financial situation together and compare proposals from various banks. In seeking support, you can turn to a credit intermediary from Poupança no Minuto, who handles the entire process at no cost! Simulate your financing now here: Poupança no Minuto