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Will having a cosigner lower your APR or enable you to borrow more?
Wiki User
∙ 8y ago
The lender should be looking only at your ability to repay the loan when they determine the amount they will lend, since they assume you will be making the payments. They also want to be sure the cosigner can make the payments if you don't, but they would not combine the two financial statements to determine the amount that the two of you together could afford. They may offer a slightly better interest rate, but if the lender wants you to get a cosigner, it usually means you will not get a loan without one.
Wiki User
∙ 8y ago
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Does having a cosigner lower the interest rate?
The cosigner can be held responsible for the loan if the original signer does not repay. Thus, the creditor has another means of access to the money, similar to collateral, and thus the presence of a cosigner lowers the interest rate.
If you have bad credit does having a cosigner with good credit on the loan lower your interest rate?
No. You are considered the primary debtor and therefore the interest rate would depend on your credit history.
Can a cosigner be added to a loan?
When applying for a mortgage, one has the option of adding a cosigner. One needs to consider the advantages as well as disadvantages before deciding on a cosigner. Additional income might improve the chances of getting approved for the loan, however, other factors, such as lower credit score might have the opposit effect.
Could you borrow money from overseas such as US to switch my Australian home mortgage to a lower rate?
yes
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Borrow money from a 2nd lender (hopefully at a lower rate) to pay the first lender
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In reality, the Fed does not lower interest rates. It lowers the rate charged to banks to borrow money. This usually results in a lowering of commercial rates.
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Lower labor costs enable producers to export inexpensive products to the United States.
Why do lower labor costs in the other countries lead to jobs loss in the US?
Lower labor costs enable producers to export inexpensive products to the United States.
Did mass production enable products to be manufactured in greater quantities and sold at a lower cost to the consumer?
Yes, of course!
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Osmosis
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