One who is individually and jointly obligated to repay a mortgage loan and shares ownership of the property with one or more borrowers. See also: co-signer.

The person's name appearing on the application with the mortgagor. The co-mortgagor'sincome, assets, and debts are added together with the mortgagor's for underwriting andratio analysis. The co-mortgagor's must appear on the FHA 'Certificate of Commitment', theNote, and the Mortgage Deed of Trust. For full guarantee under the VA's program, the co-mortgagor must be either a spouse or another eligible veteran.

A co-signer of a mortgage who is jointly responsible for the repayment of the loan amount. Such a person also receives a share of ownership in the mortgaged property.

A second borrower who signs a mortgage loan with a mortgagor. The co-mortgagor's income, assets, and debts are combined with the mortgagor's for underwriting and ratio analysis purposes. The co-mortgagor's name must appear on the FHA certificate of Commitment and the mortgage or deed of trust. For full guarantee under the VA's program, the co-mortgagor must be either a spouse or another eligible veteran.