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Most business require atleast a 680-700 credit score to be a co-signer.
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∙ 16y ago
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Will a cosigner's credit be affected if they cosign for someone who has a bad credit score because of a Chapter 7 bankruptcy?
The cosigner's credit will only be affected if the person that they cosign for defaults on the loan. The bankruptcy will not affect the cosigners credit.
Can someone cosign with disability?
Yes. Just have the co-signer with the better credit score fill out the application as the first applicant. They won't necessarily even run a credit report on the second applicant.
Can a bankrupt person cosign a loan I have a good credit score but not enough income. My father makes over 100k a year but got over his head with credit cards. Is he still able to cosign my loan?
Anyone the lender accepts can be a cosigner...that is entirely the lenders choice. However, they naturally want someone more qualified, having a higher credit score, than the primary. Your father likely does not.
Why would someone want to check your credit score?
The credit score is needed by companies in order to evaluate the risk of a possible credit default, for example if one applies for a consumer credit or a bank account.
Where could one finance automobile purchases with a good interest rate on their loan?
The best way to receive a good interest rate on your loan is to either have a good credit score or have someone cosign with a good credit score. You can usually receive the best rates with banks or credit unions that you have been a member of for a prolonged period of time.
Whose credit score is used when you cosign for a loan?
The cosigner's credit score is used. They are the one responsible if the primary signer defaults on payment. Both credits are ruined if the car payment is missed. Be very careful of who you sign for!
What effect does a credit score have on a mortgage?
The credit score can effect mortgage rates in a lot of differnt ways. If someone has a high credit score he get a lower mortgage rate and if someone has a low credit score he gets a higher mortgage rate.
What is the average credit score needed for a home loan?
The average credit score need to purchase a home is 620.
What is the meaning of obtaining fast credit?
Obtaining fast credit refers to someone's credit score. Obtaining fast credit means that someone is getting a better credit score by correcting errors.
Does it hurt your credit score when you have a credit report service that allows you to check your credit score as much as you want?
It only hurts your credit score when someone else pulls your credit report.
What score is needed for a barclays credit card?
700
What is needed to qualify for a loan?
A good credit score.
