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Yes, but that person is guaranteeing to pay the mortgage if the primary borrower defaults. That means they will have to pay for property they don't own. No one should co-sign any loan that they cannot afford to pay.

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8y ago

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Do I have to pay for a cosigner when applying for a loan?

No, you do not have to pay for a cosigner when applying for a loan. A cosigner is someone who agrees to be responsible for the loan if you are unable to make payments, but they do not typically have to pay any fees to be a cosigner.


Can you get a cosigner for a home equity loan?

Yes, you can have a cosigner for a home equity loan. A cosigner is someone who agrees to be responsible for the loan if the primary borrower fails to make payments. Having a cosigner can help you qualify for a loan or get a lower interest rate.


If someone cosigned an auto loan can someone else take over as the cosigner a few months later?

From my experience, you would have to re-finance the suto loan with the new co-signer.


How can I rent a cosigner for my loan application?

You can't rent a cosigner for a loan application. A cosigner is someone who agrees to be responsible for the loan if you can't pay it back. They must have good credit and be willing to take on the risk. It's not something you can pay someone to do for you.


If you are a cosigner in someone's loan for a line of credit and he is at default what can the cosigner do to take his name back?

Nothing. The only option for being remove as a cosigner is to have the original loan refinanced without the cosigner participating.


How can I find a cosigner for a car loan?

You can find a cosigner for a car loan by asking family members, friends, or someone with a good credit history to sign the loan with you. The cosigner agrees to pay the loan if you cannot, which can help you qualify for a loan with better terms.


Can I apply for an online loan with a cosigner?

Yes, you can apply for an online loan with a cosigner. A cosigner is someone who agrees to be responsible for the loan if you are unable to make payments. Having a cosigner can increase your chances of approval and may help you secure a lower interest rate.


Do you have to have a cosigner in order to get a car loan?

Having a cosigner for a car loan is not always required, but it can help if you have a limited credit history or poor credit. A cosigner is someone who agrees to be responsible for the loan if you are unable to make payments.


How can you be a cosigner if the title is in the name of the person you cosigned for?

Many people cosign a loan for property they don't own. Many are uninformed of the consequences of cosigning. They don't realize they are agreeing to be completely responsible for a loan for property that belongs to someone else. If the primary borrower defaults on the loan and the cosigner must make the payments, the cosigner has no automatic right to the property.


If you own your car and it's in your name but the loan is in someone else's name with you as the cosigner will that still help your credit?

Yes, it will still help your credit.


What does it mean to have a guarantor on an auto loan?

A cosigner- someone who agreesto pay the loan if you default


Can I get quick loans with a cosigner?

Yes, you may be able to get quick loans with a cosigner. A cosigner is someone who agrees to be responsible for the loan if you are unable to make payments. Having a cosigner can help you qualify for a loan and potentially get better terms.