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Bookmark or Share- Cosigning a Loan FAQs | Consumer AdviceWhat’s a Cosigner? A cosigner is not the main borrower. When you cosign a loan, you agree to be responsible for someone else’s debt. If the main borrower misses payments, you must make the payments. If the main borrower misses payments or stops making payments (also called defaulting), you must repay the loan.
- What Is a Co-Signer? Responsibilities, Pros & Cons - Capital OneA co-signer is someone who agrees to take legal responsibility for loan payments if the primary borrower fails to pay. If a co-signer’s credit history is strong, it could help a borrower get approval for a loan.
- Co-signing a Loan: Risks and Benefits - NerdWalletWhat is a co-signer? A co-signer is someone who adds their name, credit profile and financial information to the primary borrower’s loan application, agreeing to be legally...
- What You Need To Know As A Co-Signer – Forbes AdvisorWhat Is a Co-signer? A co-signer is someone who helps a prospective borrower—typically someone with poor credit or no credit—qualify for a loan by pledging to repay the loan if...
- Cosigning A Mortgage Loan | Rocket MortgageA co-signer is someone who agrees to take on the financial responsibility of the primary borrower’s loan if they can no longer make payments. Co-signers can be family members, friends, spouses or parents .
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