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560 is a fairly low score. The only way you're likely to be able to get any loan without a co-signer is if you put up enough collateral to cover the loan.

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โˆ™ 2006-04-11 05:32:50
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Q: Can someone with a credit score of about 560 get a loan without a co-signer?
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Related questions

Can I apply for a car loan with a credit score of 593?

This is a very poor credit score. You can apply but it is unlikely you will get a loan without a cosigner. If you are able to get a loan without a cosigner your interest rate will be very high as compare to someone with a good credit score of over 700.

Can you get another loan without a cosigner?

Yes, if you have a good credit score.

How can I get a student loan without a cosigner?

Although it is very difficult to get loan without cosigner. Majority of the students don't apply because they don't have any cosigner. But now a day many organization are helping such student who don't have any cosigner. You can apply for such loan that not required cosigner. These loans called no cosigner student loans. You can find a detailed procedure through link that is in "Related Links"

What credit score does a cosigner need to have?

usually over 680

What is the lowest a cosignee's credit score can be?

Most lenders prefer a cosigner to have a credit score of at least 620. However, cosigners with a credit score of 720 or above is always preferred.

Do I Need A Cosigner To Get A Business Loan?

In case your cosigner has an excellent credit score and is a relative or closely affiliated with your business, this can help you qualify for a business loan.

How To Get Student Loans Without a Cosigner?

If you have been looking for ways to pay for college, you have probably thought about taking out a few student loans. However, you might have found that a lot of student loans require that you have either a high credit score or a cosigner. If you don't have credit or if your credit is bad and if you don't know anyone who is willing to cosign with you for a student loan, you might be unsure of if you will ever be able to pay for college. Fortunately, there are ways to get student loans without a cosigner. First of all, you should consider talking to a financial aid adviser about taking out a federal student loan. Federal student loans allow students to borrow money for school without a cosigner, and they do not even look at your credit score, which means you will still qualify if you have bad credit or if you don't have credit at all. Along with applying for student loans, you can also apply for federal grants. Just like loans, these grants will provide you with the money that you need to pay for college, but you won't have to worry about paying them back in the future. Secondly, you could consider working on your credit score so that you won't need a cosigner in order to get a student loan. Although you might think it will be impossible to boost your credit score, it might be easier than you think. By getting a cell phone or cable bill in your name and paying it on time or getting a credit card and using and paying for it responsibly, you can boost your credit score, and this can help you qualify for student loans without the need for a cosigner. Lastly, you can consider looking for student loans that will allow students with bad credit to apply, even without a cosigner. Although this might be more difficult, a little patience might help you find a lender who is actually willing to give you a chance.

How do you check credit without affecting your score?

Your credit score is based on your credit history. It is not the affected by the number of times you check your own credit rating. However, many credit scores factor the number of times someone else checks your credit and it may lower your score.

Is it true you can improve your credit score dramatically by having someone with good credit add your name as a cosigner to one of their credit cards even if you never use it?


How does someone qualify for Hertz gold?

Anyone can just about qualify for Hertz gold. the only factor that there is in this, is that you have to have a good credit score. Without a good credit score, you do not qualify.

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.

Do you have to have a credit card to have good credit?

No not necessarily. Your credit score is determined by your history of paying back accounts from lenders. While you don't need a credit card they tend to be how most people build credit. To get a good score without a card (assuming you're applying for a loan or some kind of financing) you'll need either a cosigner, someone who has credit and is willing to put it on the line for you and their credit becomes yours basically but they take most of the risk and penalties if you default. Another option is a loan which you pay back every month ON TIME in order to build a good score over time.

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.

If your credit score is approx 412 but you have a cosigner with perfect credit can you buy a home?

The bank looks at the middle score of the person with the worst credit score which is the person with the 412. And with the lenders are being more strict on home loans, it will be difficult to approve. You may want to repair your credit or hire a reputable firm in the BBB to repair your credit.

If you need a cosigner for a loan and you have someone with a credit score of 700 who will cosign but they only made 12k last year will they be approved?

The credit score could indicate that the person is responsible in their financial dealings. Unfortunately the salary amount would not be favorable. Many lenders will, however, look at the overall financial picture of the cosigner; for example the person's debt to income ratio, potential for increased future income, etc.

Someone with a poor credit score should be able to lease a car.?

Someone with a poor credit score should be able to lease a car.

Can someone with a credit score of about 560 get a loan without a co signer?

No, most banks require atleast a 620 score to even consider you for a personal loan.

If you have a 580 Transunion score and make around 55000 a year can you get a 90000 dollar loan with no money down Only have 425 a month going out for a car payment?

Nope. Income doesn't matter much if your credit sucks. Your credit score usually needs to be 620 or above to get a loan without a cosigner or collateral.

If you are 18 and just purchased an apartment for 420000 with no cosigner will you get approved for a lease on a Hummer h2 if your credit score is 740 or will you need a cosigner?

how did an 18 year old haev good enough credit for a half a million dollar apt, without a cosigener? sounds like somebody might have put up alot of cash upfront, if they have that much money cant they help you with getting a car? 740 is a pretty good score though

Does a parent's credit score affect student loan?

If the student loan is taken out in the name of the student then no. The student's credit score is separate from anyone else's. If the student loan is taken out in the name of the parent or with them as cosigner then yes - their credit scores would come into play.

How do you raise your credit score without credit cards?

You have to have active accounts in order to have a credit score. Your credit score can reflect your payments history on installment loans. Pay whatever accounts you have in a timely manner. Control and limit inquiries. Stay away from finance companies. Your score will not be as high as someone who has revolving credit accounts and manages them well. But you will have a score that reflects how you manage the credit you do have. If you have a mortgage, car payment, school loans, and sometimes even cell phone or utility bills that you pay on time, that will raise your credit score.

Can you get a loan from a bank with a responsible co signer?

Your abaility to obtain a loan from a bank is generally based on your credit score and what type of loan you would like to get. Generally, if you have a cosigner that has a good credit report you should be able to get a loan.

What are the main reasons that someone would want to get a copy of their credit report?

It depends, maybe someone wants to buy a car, they might need proof of their credit score, some dealerships require you to have a decent credit score; also, when buying a house, your credit score sometimes kicks in, so evidence of your credit score/report are necessary.

Can someone with a credit score of 512 get a car loan?


Does it effect your credit score when request your personal credit file?

if someone looks into your credit report, yes it will effect your credit score. it will reduce between 3-10 points.