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Do you have to have a co-signer if you are a first time buyer?
Wiki User
∙ 16y ago
no It's not required unless your credit is poor.The lender will tell you if you need a cosigner.
Wiki User
∙ 16y ago
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Is it a good idea for a first time buyer to have a cosigner?
For the first-timer, yes; it gives you security in case you can;t do it and will make the bank more likely to consider you. For the cosigner, you better make sure you can keep your word as well.
Who has to have insurance on the car the cosigner or the buyer?
You insure a vehicle. The buyer. The only thing the cosigner is responsible for is paying the bank back the money it loaned if the buyer doesn't. The principal driver of the vehicle who should also be the buyer.
What if I can't find a cosigner for a car?
go to a buy here pay here place. i couldn't find a cosigner, so i went to a buy here pay here place that says "we don't care about credit" or, if its your first time buying a car from a company, some dealerships do the first time buyer credit approval. it all depends.
If there are 2 purchasers on a home and only one is a first time home buyer can first time buyer get first time home buyer tax credit?
Yes
Does the buyer of a car have to have a job if they have a cosighner and for how long?
if you have a good cosigner then all that matters is their credit and work history... if you renage on the deal they go after the cosigner
Does the cosigner on a mortgage need to be on the purchase and sale so the seller is aware of a cosigner?
That is an issue between the mortgage company, the buyer and the cosigner. The seller's only worry is selling the property and getting paid.
Do first time renters need a cosigner on a lease?
No, first time renters do not generally need a cosigner. They may if they are young like 18 years old or have credit or financial issues.
Is the cosigner of an auto loan responsible for the loan if the loan was refinanced by the buyer without the knowledge or consent of the cosigner?
No, the refinancing without the consent or knowledge of the original cosigner created a breach of the original lending agreement and the cosigner is no longer legally obligated for the debt.
What is a first time buyer?
A first time buyer is normally refering to a person who is to buy a house for the first time rather than live by rent or lease
What is the average age of a first time home buyer?
what was the average age of a first time home buyer i n 1999
How can you find out if you are a co-buyer or a cosigner on a car loan and would your name be on the title and registration if you are a cosigner?
Easy, you can check your own credit report OR go to a registries office and do a quick search. A simpler method is to ask the person that is the primary borrower/buyer or call the lender. Either a cosigner or co-buyer can be listed on the title depending upon the agreement made by the persons involved. The title to a vehicle determines ownership, a cosigner generally has no vested interest in the property only the responsibility of the debt.
Can the primany buyer of an auto loan refinance the auto loan in the cosigner's name only?
No. The cosigner would have to apply for a loan in their name using their credit, income data.
