Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

What is the benefit of having a cosigner on my application?

April 26, 2017application benefit Cosigner

0

Posted

What is the benefit of having a cosigner on my application?

1 Answer

0

Posted

A. While a cosigner is not always required, applying with a qualified creditworthy cosigner will improve the likelihood your loan application will be approved. In addition, if you apply with a qualified cosigner, you may also receive a lower rate and/or fee on your loan. Q. How can I compare the total costs of loan programs? A. The Annual Percentage Rate (APR) is your best measure of the cost of a loan. The APR factors in the interest rate, fees, and deferment and repayment terms.