I have an existing mortgage where I am the co-signer with my spouse. How will separation affect my ability to get a second mortgage? Can my daughter co-sign on a mortgage?

If you have an existing mortgage where you are the co-signer, you will need to show the lender that you qualify for another mortgage. There are many factors to consider with respect to getting a mortgage approved. Before you consider a new mortgage, you may need to update your overall financial plan, investment strategy and will, among other things.

If you are planning to buy another home, first speak with a lawyer in addition to speaking to a financial representative about your financial situation.