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We co-signed a mortgage for our daughter and son in law. Do we click on "bought a home" on the changes screen?

 
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ToddL99
Expert Alumni

We co-signed a mortgage for our daughter and son in law. Do we click on "bought a home" on the changes screen?

No, co-signing on a mortgage does not qualify as "buying a home". Your involvement as co-signers was to facilitate their ability to get financing for the purchase.

 

Your daughter and son-in-law bought the home, occupy the property, are listed on the title, are principally responsible for making mortgage payments and are entitled to claim any mortgage interest and property tax deductions.  

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1 Reply
ToddL99
Expert Alumni

We co-signed a mortgage for our daughter and son in law. Do we click on "bought a home" on the changes screen?

No, co-signing on a mortgage does not qualify as "buying a home". Your involvement as co-signers was to facilitate their ability to get financing for the purchase.

 

Your daughter and son-in-law bought the home, occupy the property, are listed on the title, are principally responsible for making mortgage payments and are entitled to claim any mortgage interest and property tax deductions.  

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