Is this normal?

[Anonymous]

I am in the process of getting approved for a USDA loan. However, I have my dad cosigning as well for total income purposes. I have turned in all of my documents such as stubs, w2, tax returns, bank statements and SSN/ID. Is this normal for the lender to request the same thing and he's just a co-signer? I'm new to this, and just find it a bit weird to be requesting all of the "COSIGNERS" tax info and bank info. It would just make sense to me to just provide a check stub ssn and drivers license.

[Laura1369]

They are lending him the money as you, so why would they not verify all of the same information? 

[ShanetheMortgageMan]

It's normal - but are you applying through a mortgage lender for the Guaranteed version or directly through USDA?  To use a co-signers income to qualify it must be the Direct version, so if you are using a lender then their income won't be able to be used.

[Anonymous]

I have the same question.

[Anonymous]

When you get a cosigner, the cosigner is taking responsibility for the loan in the event that you don't pay. They are taking equal responsibility with you for the loan, and as such, the bank wants to verify their information as well. It may actually be more important for them to get the cosigner's info, because the cosigner is the backstop and is really the person holding the loan. 

[ezdriver]

Co-signer = co-borrower. Same rules apply to both.