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Yes, someone can cosign with low credit if they have an excellent credit history overall. Lenders often consider the cosigner's overall credit profile, including their payment history and the length of their credit accounts. However, low current credit scores could still impact the lender's decision, as they may view it as a risk. Ultimately, it depends on the lender's policies and the specific circumstances of the individual's credit situation.
What else can I help you with?
Which companies are willing to cosign for you?
Banks, credit unions, and some financial institutions are willing to cosign for you if you need a loan or credit but don't have a strong credit history.
When is a co signature required for a car loan?
Whenever the lending institution wants one. Basically, if the primary applicant has no credit history, or a poor credit history, lenders may require that someone with a longer/better credit history cosign.
Can someone you live with cosign an auto loan?
Yes. It depends on their credit history and willingness to co-sign and take responsibility for your loan.
Will a cosigner's credit be affected if they cosign for someone who has a bad credit score because of a Chapter 7 bankruptcy?
The cosigner's credit will only be affected if the person that they cosign for defaults on the loan. The bankruptcy will not affect the cosigners credit.
Can someone on social security benefit's cosign for a loan?
Yes, someone on the social security can be able to cosign for a loan. The person cosigning the loan however has to have good credit regardless of his availability on the social security benefit.
Can someone without a job co-sign on a car?
Yes, a person without a job can cosign on a car loan. However, the person must have great credit before they can cosign.
Can someone with no credit cosign for someone?
A lot of creditors will not accept a co-sign from someone with no credit. They want proof that if the person who takes out the loan defaults, the co-signer will have the credit funds available to pay off the loan.
What credit score is needed to cosign for someone else?
Most business require atleast a 680-700 credit score to be a co-signer.
If cosigner has a car loan already may she cosign for someone and be approved for that person and the cosigner has good credit?
Yes.
How can I find someone to cosign a loan for me?
To find someone to cosign a loan for you, consider asking family members, friends, or individuals with good credit and financial stability. Be sure to explain the responsibilities and risks involved in cosigning a loan. It's important to choose someone you trust and who understands the commitment they are making.
What's a good loan interest rate for someone with excellent credit?
A good loan interest rate for someone with excellent credit is typically around 3-4.
If i cosign a car for someone will my name come off in a year?
No. It doesn't come off until the loan is paid and if the person who is getting the loan doesn't pay you will owe for the loan. When you cosign it also goes on your credit report.
