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Most lenders prefer a parent or legal guardian, because of the insurance coverage/liabilty requirements. A few lenders will accept any qualified adult, meaning they must be of legal age, be gainfully employed for a specified amount of time and have a good credit history.

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15y ago

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What do I need to cosign a car loan?

To cosign a car loan, you typically need a good credit score, stable income, and a willingness to take on responsibility for the loan if the primary borrower fails to make payments.


When might two people need to cosign an agreement?

Two people would need to cosign an agreement when for example, parents need to cosign the loan application for their child or to help a friend in need.


Does a cosigner need a driver's license?

You need a lisence to drive the car, but not to cosign a loan.


Does my child need my permission to get college loans?

Most of the time they need you to cosign in order to qualify for a loan. You can try a stafford loan.


Can someone on disability cosign a mortgage loan?

You need to ask a mortgage agent.


What do you need to cosign for a car?

To cosign for a car, you typically need a good credit score and a stable income to help the primary borrower qualify for the loan. By cosigning, you are agreeing to be responsible for the loan if the primary borrower fails to make payments.


If i cosign a student loan what are my responsibilities?

Go to salliemae.com and that will give you all the info. you need.


What do you need to cosign a car?

To cosign a car, you typically need a good credit score and a stable income to show the lender that you can help repay the loan if the primary borrower is unable to do so.


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.


Can a parent plus loan be put in the student's name instead of the parent's?

A parent plus loan is exactally that. A loan for parents to help their children with college expenses and can only be given to parents under the parent's name. You also need to begin to repay that loan while your child is still in school, usually within 60 days.


How do you find private individual to loan money or cosign for a loan?

You'd need to ask your friends and family. No one you don't know is going to cosign for you, and a lot of people you do know may turn you down also. Answer If you need someone to cosign a loan because you cannot obtain it on your own, you should not get a loan. All you are doing, in essence, is passing on the problem to another person, who will likely end up paying for both. Improve your habits and credit history and wait until you can do this on your own.


If you didn't cosign your husbands student loan and it's in default can you get student loan andor Pell grant?

In the US, the answer is yes you can. If your husband need help with consolidating his defaulted student loans, please click on the link under the "Related Links" section below.