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Subjects>Business>Finance

Are co-borrowers and co-signers the same?

Anonymous

∙ 14y ago

Updated: 9/18/2023

It is my understanding that a co-borrower is a person who will also avail of the loan and shares the responsibility of repaying it, while a co-signer guarantees that the borrower(s) will repay the loan, and will be resonsible for it if the borrower does not repay it.

Wiki User

∙ 14y ago

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Continue Learning about Finance

What is the maximum number of cosigners allowed on a mortgage?

The maximum number of cosigners allowed on a mortgage typically depends on the lender's policies, but it is usually limited to two cosigners.

Can you have 2 cosigners on a mortgage?

Yes, it is possible to have two cosigners on a mortgage. Having multiple cosigners can help strengthen the application and increase the chances of approval, as it shows additional financial support and responsibility.

Which credit cards let you have cosigners?

i have no idea

What are the reviews from American cosigners regarding their experiences?

American cosigners have varied experiences, with some reporting positive interactions and successful outcomes, while others express frustration with the process and financial implications.

Does breaking a lease hurt cosigners credit?

That is why the cosigner is there. To back up the contract if you bail.

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Related Questions

What is the maximum number of cosigners allowed on a mortgage?

The maximum number of cosigners allowed on a mortgage typically depends on the lender's policies, but it is usually limited to two cosigners.

Can you have 2 cosigners on a mortgage?

Yes, it is possible to have two cosigners on a mortgage. Having multiple cosigners can help strengthen the application and increase the chances of approval, as it shows additional financial support and responsibility.

When your Father passed away how bad will a car repossession affect a cosigners credit?

It depends on how your father's death, the repossession, and the cosigners credit are corelated.

Which credit cards let you have cosigners?

i have no idea

Does buyer and cosigners names both appear on title?

no

If the cosighner stops making payments on car loan but has the car and wont return it?

both owner cosigners credit will be affected both owner cosigners credit will be affected

What are the reviews from American cosigners regarding their experiences?

American cosigners have varied experiences, with some reporting positive interactions and successful outcomes, while others express frustration with the process and financial implications.

Can an apartment landlord in California refuse cosigners?

Yes. It's not always the landlord that owns the apartment block, but a company and he has to go by the rules. The company has a right to a degree to decide who to rent too and refuse cosigners.

If a person defaults on mortgage payments will this affect the cosigners on their student loan?

yes

What is a full form for the word cosigners for cse branch?

Computer Science & Engineering

Does breaking a lease hurt cosigners credit?

That is why the cosigner is there. To back up the contract if you bail.

What are the benefits of having online cosigners for a loan application?

Having online cosigners for a loan application can increase the chances of approval, as it provides additional assurance to the lender that the loan will be repaid. It can also help secure a lower interest rate and better loan terms. Additionally, online cosigners make the application process more convenient and efficient, as it can be done remotely without the need for in-person meetings.

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