A loan issued to two or more individuals will list the additional individuals as co-borrowers. Co-borrowers are often used in loan applications in order to pool the income and assets of two or more people in order to qualify for the loan. All co-borrowers have a legal obligation to repay the loan, and on mortgages the co-borrowers appear on the property’s title. The most common co-borrower situation involves a couple buying a house together; both spouses are co-borrowers. A co-borrower is not simply a co-signer; a co-signer is responsible for the debt should the borrower default, but a co-signer does not have ownership of the property.