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Can co-signing a car loan affect your chance of getting a home loan?
Wiki User
∙ 13y ago
Yes, it can affect your credit in a few ways. First, it will affect your debt to income ratio which banks consider. Could you afford the car payments on your own? Second, but not the least important, is that people who need a co-signer have poor credit and poor payment histories. They are apt to lapse in their payments and that will affect your credit score unless you pick up the slack. The best advice is that you absolutely do not co-sign on another person's loan.
Wiki User
∙ 13y ago
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Will multiple credit card inquiries affect the chances of getting a home equity loan?
Multiple inquiries will not affect your chances, the only way it would affect you getting a home loan is if your credit score was impacted. Be careful with applying for credit cards, the inquires affect your score negatively.
Can a felony affect you getting a home loan?
no because that has nothing to do with you having money
What are the pros and cons for cosigning a home loan?
There are no pros, except for making the person you are cosigning for happy. CONS--SEVERAL, whoever you cosign for does not have to make payment and still get to keep the house, you pay they stay for free. your credit is scarred if they do not pay and it goes into forclosure, you have to make up all payments or come up with the total loan, You really need to think long and hard before co signing! There are so many programs to help people with bad credit, no credit. They can help them, do not co sign. Talk with an attorney before cosigning, no matter who it is for.
How can bad debt affect your financial life?
Bad debt can affect your credit score which would impact getting a loan, purchasing a home, or getting some jobs. It can impact your long term financial stability by inhibiting someone from saving money for future expenses.
If i foreclose on my 2nd home how will it affect my primary home?
If you foreclose on your 2nd home, it will not affect your primary home. It will actually free up money so you can pay your first mortgage.
Can Home bancruptcy affect getting my insurance license?
Can a home bankruptcy affect getting my insurance license?
If cosigning for your mother can impact you negatively when buying your own home how can you help her?
Pay off all her debts yourself if you can.
Will multiple credit card inquiries affect the chances of getting a home equity loan?
Multiple inquiries will not affect your chances, the only way it would affect you getting a home loan is if your credit score was impacted. Be careful with applying for credit cards, the inquires affect your score negatively.
Can a felony affect you getting a home loan?
no because that has nothing to do with you having money
Can you buy a home under bankruptcy?
If our home is in foreclosure,and never reaffirmed the debt through chapter 7-how will it affect us getting a home?
Does getting a DUI in another state affect your driving privileges in your home state?
Yes they follow you everywhere.
How soon after a fire can you close the flue?
I would wait until all ambers are completely out so there is no chance of any smoke getting in your home.
Can other animals transport lice into your home?
I dont think they can transport lice to ur home, but if they do have lice and you are playing with them or if your head is close to them there is a chance you willl end up getting lice as well.
Why did inventors and sailors develop better tools for navigation?
So it would increase a better chance of survival in the sea and would give them a higher chance of getting back home or to there destination and would give the crewmen some hope
What are the pros and cons for cosigning a home loan?
There are no pros, except for making the person you are cosigning for happy. CONS--SEVERAL, whoever you cosign for does not have to make payment and still get to keep the house, you pay they stay for free. your credit is scarred if they do not pay and it goes into forclosure, you have to make up all payments or come up with the total loan, You really need to think long and hard before co signing! There are so many programs to help people with bad credit, no credit. They can help them, do not co sign. Talk with an attorney before cosigning, no matter who it is for.
How can bad debt affect your financial life?
Bad debt can affect your credit score which would impact getting a loan, purchasing a home, or getting some jobs. It can impact your long term financial stability by inhibiting someone from saving money for future expenses.
Will getting pregnant in college affect your absents in college?
It depends on how they pregnancy goes. Some have no issues while others have a number of issues. Whatever you do in your personal life will affect what happens at the college. Whatever happens at the college will affect what is happening at home.
