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Some lenders might consider someone who is at least 18, most prefer 21 or older. Some contributing factors are the credit history of the co-signer, if the person has acceptable income to debt ratio, gainful employment history, etc.

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โˆ™ 2005-05-30 19:00:30
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Q: How old do you have to be to be a co-signer?
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Related questions

Can a17 year old get a loan with a cosigner?

Yes, as long as the cosigner is a legal gardian or a parent.


Can you replace a cosigner for an apartment with another cosigner?

Yes, you can replace a cosigner for an apartment with another cosigner. However, you need to get the consent of the landlord.


What are the benefits of a cosigner?

A cosigner basically is a guarantor for the repayment of a loan or value and serves as cosigner of the debt. If the debtor fails to make payments or defaults, the cosigner is obligated to pay off the debt. No benefits for the cosigner, but cosigner benefits the debtor.


Can a 19-year-old without credit who is not a student sign a lease without a cosigner?

No.


Can a 17 year old get a student loan without a cosigner?

Not possible as the applicant is a minor.


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.


Can an 18 year old be a cosigner for an adult?

Yes, an 18 year old can be a cosigner for an adult. At the age of 18, the individual themselves is considered an adult. Any adult, depending on whether or not their credit is good or bad, can cosign for another adult.


What can a 70-year-old cosigner on a car loan be held responsible for if the loan is found in default?

The cosigner has the same legal obligations to repay the debt as does the primary borrower. If the primary borrower defaults, the lender can begin proceedings to collect the full amount owed plus applicable fees from the cosigner. A cosigner can be sued just as can the primary borrower. And if the primary borrower claims bankrutpcy, the cosigner will still get "stuck" with the debt. The credit report of the cosigner will be equally affected, either in a positive or negative way, depending upon the circumstances.


Does a cosigner have to have a job?

No, a cosigner can be retired, or just in good standing with the federal credit bureau. They do not necessarily have to have a job. But the deal with a cosigner is that if the individual they are cosigning for does not pay the bill, the cosigner is responsible for the payment.


Can you be sued in case of an accident as cosigner?

No. The only obligation the cosigner has is to the lender.


What are the legal rights of a cosigner on a mortgage?

legal rights of cosigner on mortgage


What makes a legal cosigner?

Capacity and intent of the cosigner to be bound is required.

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