Finance
Vermont's 'co-borrower' on a mortgage application adds another person's income and credit to the loan qualification, which:
AReduces both borrowers' personal liability
BMay strengthen the application but also makes both parties equally responsible for repayment✓ Correct
CEliminates the need for a down payment
DAlways reduces the interest rate
Explanation
A co-borrower joins the primary borrower on the mortgage application, contributing their income and credit profile. Both co-borrowers are equally and jointly liable for the full mortgage debt.
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