Nook | We're Making Loans Simple

New Nook Logo - We're Making Loans Simple
  • Your Loans

    Choose the best loan type you can have for your needs.

    Know which type of housing loan you need to manage your finances.

    Need to buy something? Continue studying? Or going somewhere else?

    Other Links

    Get Pre-Qualified

    Find out if you qualify for a loan in just 3 minutes.

    Mortgage Brokering

    We help you with your loan transaction at no cost to you.

    Book Consultation Call

    Get expert advices from our loan consultants for free.

    Loan Calculators

    Check your financial capacity now.

  • Partners

    Join the many who made the best decision in providing their clients with the best home loan journey available in the country.

    Banking Partners

    Some of the biggest banks in the Philippines with the goal of making home loans simple.

    Strategic and Partner Developers

    In coordination with top developers, realty and service providers for B2B connections.

    Retail Partners

    Get discounts and exclusive deals during your home loan journey from these retails shops.

    Affiliate Program

    Refer your friends and family to become an affiliate and receive commission plus discounts for every successful referrals.

    Nook Home Loans - Affiliate Army
  • Latest News

  • About

    Know more about the Philippines' first mortgage broker, how we do it and why only we can do it.

    Nook App

    Transact more faster with your Nook loan consultant on our app.

    Our Process

    Processing your loan application can be done with our four simple steps.

    About Us

    Why we are the first and the only mortgage broker in the country.


    Join the Mortgage Brokering Industry Pioneer, Nook.

    Contact Us

    Chat to us now from our website and talk to a Live Agent.

    Help Center

    Tutorials and How-to guides when using Nook's technology.

When Do You Need a Home Loan Co-Borrower?

When Do You Need a Home Loan Co-Borrower?

Nook Admin – December 30, 2021

Transcript of the video


Hi guys, welcome. I'm Cyrus from Nook, the Philippines mortgage broker. We will help you find the right home loan and get it approved by a major bank for absolutely no charge.

By the end of this video you will know what a home loan co-borrower is, who can be a co-borrower, and when you will need one.

So let’s get started….

What is a Co-Borrower?

So first, what is a co-borrower exactly?

A co-borrower is someone who will jointly take out a home loan for the purchase of a property with the principal borrower.

They will share the liability of repaying the loan to the bank and will share the risks and rewards of the property purchase.

It's like two or more people team up to buy the one property.

Who Can Be a Co-Borrower?

Who can be a co-borrower with you?

Generally banks will need the co-borrower to be a direct relative of the principal borrower.

However, some banks will consider domestic partners and fiance's as someone that is eligible to be a co-borrower. But this will depend on the banks lending policy.

Note that a married spouse will automatically be added as a co-borrower to the home loan by most banks.

So if a marital issue exists with a previous spouse, it can cause issues with the home loan process.

If this is applicable to you then it's best to discuss your intention to purchase a property with your previous spouse prior to applying for the loan as there may be issues down the track that prevent the loan being approved.

Including co-borrowers to a home loan can be tricky and can delay the home loan process if not done correctly.

So it helps to have the support of a home loan expert like Nook to guide you through the loan process to understand your particular circumstances.

When Do You Need a Co-Borrower?

Co-borrowers are most often used when the principal borrowers monthly income is not sufficient to purchase the property they intend to buy.

Banks will look at your income verses the value of the property and determine if the income is enough to cover the monthly loan repayments and ensure you still have enough money each month to live.

This is called the debt-to-income ratio and we cover that in a separate video titled Debt-to-Income Ratio - Why Home Loan Borrowers Need to Know It. So check that out.


So that's it.

That's what a co-borrower is, who can be one, and when you need to include one in your home loan application.

Now, if you’re looking to get started on your home loan journey and what to avoid common co-borrower issues, reach out to Nook by visiting us at

And follow us on all the social media platforms follow or Like us on facebook, instagram, YouTube or twitter, to keep up to date on important information to ensure you're able to buy your dream home.

And finally, if you got value from this video today, please share it with just one person you know. We would appreciate that.

See you next time.