Sentences with phrase «used as a cosigner»

I was thinking of getting my sister to buy a multifamily unit using a conventional 5 % down loan and use me as a cosigner so she can qualify for more (I already used up my first - time - home - buyer - owner - occupied - 5 % down conventional loan).

Not exact matches

I was put on a contract as a cosigner, without ever giving my written or verbal consent for them to run my credit and use my information.

This new application will be prepopulated and take less than half the amount of time and we will use the same credit pull, so your offered interest rate won't change as long as the new application is submitted within 90 days of the previous application and nothing else (such as cosigner or income) changes on the application.

Using this terms, a bank generally views cosigners as riskier than co-borrowers.

Cosigners are commonly used for personal loans and other products such as private student loans.

The cosigner's credit rating is used to determine whether to give the loan, though the loan is placed in your name as well as the cosigner's name.

Collateral is not possible as the loan is unsecured, but a cosigner can be used to provide backup.

Therefore, find a cosigner who trusts you and remain worthy of their trust by using the loan or credit card wisely as it could reflect poorly on them if you don't.

The lenders use fairly minimal credit underwriting standards for cosigners, such as a minimal threshold on annual income.

Just as it was done with credit scores, the income statistics are calculated using the greatest income between the borrower, and if there was one, the cosigner.

Did you consider using Parent PLUS loans as an alternative funding method before you agreed to act as a cosigner?

Marital money management is a tricky business, and using your spouse as a cosigner has several pros and cons that couples should consider together before signing any final paperwork.

Using a spouse as cosigner on a loan or credit card can bring about some unwanted financial challenges.

Depending on how your finances are organized, whether there are cosigners on any of the loans and if you want your family to keep any of the assets used as collateral, you may not need to include all or just some of these loans when calculating your life insurance needs.