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2525 blv Daniel-Johnson, Laval, QC, H7T 1S9
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Fax: 514-533-0143
Owners who need to change the borrowers — Quebec
Need to remove a cosigner or co-borrower from your mortgage?
A parent who cosigned and now wants to buy, a relative asking to be released, a co-borrower who has to come off the file: in every case the lender decides, and it almost always means new financing.
- Remove a cosigner from the mortgage
- Remove a co-borrower or a spouse
- Qualify on your own after a change in circumstances
- Declined by the bank despite the equity
Nectarios Petropoulos, mortgage broker (licence 237338), Dominion Lending Centres National. Free, confidential review with no obligation.
Request a free review
Fill out the form and we will call you back to go over your file. No obligation on your side.
Thank you, your request has been sent
We will contact you shortly to discuss your situation. If your request is urgent, you can also reach us at 514-999-9946.
Who this is for
Does any of this sound like you?
The cosigner made the purchase possible. Removing them is a separate transaction, with conditions of its own.
A parent wants to buy now
As long as they remain on your mortgage, that commitment counts in their own ratios and caps their borrowing power.
The relative wants out
They cosigned to help, their situation has changed, and they now want off the file.
Your situation has improved
Higher income, rebuilt credit, debts paid down: you think you can carry it alone and you want that confirmed.
The bank will not qualify you alone
Your current lender says no to the removal, even though you have paid on time for years.
The basics
Why "taking a name off" is not a formality
A cosigner is committed to the lender, not to you. No agreement between you releases them: only the lender can, and it will only do so once satisfied the loan stands without that person. In practice, that means qualifying again, usually through a new mortgage.
Two routes exist: an amendment with your current lender, which is rarer, or refinancing with a lender that accepts your file as it stands today. Here are the options that can be reviewed.
Options that can be reviewed
Amendment with your current lender
Some lenders will remove a borrower without a full refinance if you qualify alone under their criteria. The cheapest route when it is available.
Refinance with another bank
A new mortgage in your name alone, if your income, credit and ratios meet another prime lender's criteria.
Alternative (B) lender
When income or credit does not clear the bank grid. Higher rate, often for a term or two while you requalify.
Replace the cosigner
In some files another co-borrower can step into the first one's place. That solves the qualifying problem without requiring you to carry the financing alone.
If none of these is realistic today, the review says so plainly — and identifies what to work on so it becomes possible in twelve or twenty-four months.
The process
How the review works
A simple three-step process, at no cost and with no obligation.
We build the picture
Property value, balance, your income, your debts, your credit and the exact role of the person coming off.
We compare the options
We check whether you qualify alone, with which lenders, and on what terms.
We coordinate
If you move ahead, we work with the lender and the notary to complete the removal.
What changes
What the review can give you
Every file is different and no outcome can be guaranteed in advance. Here is what the review usually gives you.
- A clear answer on whether you qualify alone today, with a number rather than a hunch.
- A cosigner released from a commitment that is capping their own borrowing power.
- If something is missing, what it is and how long it takes to fix.
- A comparison between removing them now and waiting a few months.
Who you will be talking to
A mortgage broker specializing in non-standard files
Nectarios Petropoulos is a mortgage broker with Dominion Lending Centres National and has handled cosigner and co-borrower removals since 2016, including after a bank decline.
A broker works with several lenders: banks, alternative lenders and private lenders. The job is to compare what exists for your situation and explain the consequences of each option, including when doing nothing is the better call.
- Broker
- Nectarios Petropoulos
- Licence number
- 237338
- Brokerage
- Dominion Lending Centres National
- Office
- 2525 Daniel-Johnson Blvd, Laval, Quebec H7T 1S9
- Phone
- 514-999-9946
Frequently asked questions
Removing a borrower: your questions
Can a cosigner simply be taken off the mortgage?
Not unilaterally. The lender has to be satisfied the loan stands without that person, which means you have to qualify alone. If your current lender refuses, refinancing with another lender can sometimes make the removal possible.
Is a written agreement between us enough?
No. An agreement settles matters between you, but it has no effect on the commitment made to the lender. While the name is on the loan, that person remains liable in the lender's eyes and the commitment shows on their credit file.
Do I absolutely have to qualify on my own?
The new financing is assessed on the borrowers who remain. If that is just you, then yes. Another co-borrower can step into the departing person's place, which changes the calculation.
Will the removal change my rate or trigger a penalty?
Refinancing mid-term can trigger a prepayment penalty and a different rate than the one you have. Those costs are quantified before any decision, and waiting for maturity is sometimes the better call.
Does it have to go through a notary?
In most cases yes, since it involves a new mortgage deed. Fees vary by file and are presented to you in advance.
My bank said no. Is that the end of it?
Not necessarily. Each lender applies its own income, credit and ratio criteria. Depending on your equity and your file, others may structure it differently. No outcome can be guaranteed before a review.
Need someone off the mortgage?
Let's check whether you qualify on your own today and, if not, what it would take.
The information on this page is provided for general guidance only and is not an offer of credit, a guarantee of approval, or legal advice. Removing a borrower depends on the lender's acceptance and applicable rules, and is subject to review.