A co-borrower is an additional person who signs a mortgage loan agreement, sharing responsibility for loan repayment and contributing to the household income used to qualify for the loan.
Creditworthiness is a measure assessing a person's ability to qualify for and repay a loan. It influences loan approvals, interest rates, and credit limits.
A deductible is the amount a homeowner must pay out-of-pocket toward a covered damage or loss before their insurance company steps in to cover the remaining costs. Policies with higher deductibles typically come with lower premiums.
