While a mortgage lender will not factor your parenting status into a conventional loan application decision, you may still qualify for a home loan if you have a lower income, a bad credit score, or more severe financial needs. Depending on the loan program you apply to, you could receive a VA Loan, USDA Loan, or FHA Loan to help you achieve homeownership with a smaller down payment, a competitive interest rate, and a flexible monthly payment. Your loan program may also help cover mortgage insurance, closing costs, and other direct loan fees you incur. A cosigner is someone who has better credit than you and is willing to sign onto your loan application to help you pass a credit check. If you stop repaying your debt, the payments become the responsibility of the cosigner, which is a way for the lender to guarantee you will repay your debt. You can typically use a cosigner with a private loan, an installment loan, a credit card, or any other bank loan product. You may need a cosigner if your credit score does not pass the lender’s credit check requirements. Just remember that any late payments or defaults will reflect on your credit report as well as your cosigner’s.