Today on the podcast, I answer one of the most common questions I hear from first-time home buyers in Ontario: what is the difference between a cosigner and a guarantor? We dive into when each option makes sense, what lenders look for, and the important considerations you need to understand before asking someone to help you qualify for a mortgage.In this episode, I cover:• The key differences between a cosigner and a guarantor and how each impacts your mortgage application• Why lenders may require a cosigner even if you earn a good income • When adding a cosigner or guarantor can help you buy your first home and when it could create bigger financial challenges down the road• The responsibilities your cosigner or guarantor takes on and what happens if mortgage payments are missed• The risks of relying on a cosigner or guarantor to increase your purchase price and how to avoid becoming house poor• How to remove a cosigner from your mortgage in the future and why having an exit strategy is essential before signing any documentsAre you considering adding a cosigner or guarantor to your mortgage application and want advice tailored to your situation? Book a free consultation with me using the link below! Before you go, please leave a like and subscribe to the podcast for more expert insights on the steps for becoming a homeowner in Ontario!Specific Questions?  Ready to get started?Book a free call with Brianna: www.Bricallme.comJoin my mailing list: https://briannagoslinmortgages.myflodesk.com/mortgagebitesWebsite: http://www.briannagoslinmortgages.comInstagram: https://www.instagram.com/briannagoslinmortgagesFacebook: https://www.facebook.com/brianna.goslin.mortgagesLinkedIn: https://www.linkedin.com/in/briannagoslinmortgages