2006-12-26 12:12:12 · 8 answers · asked by MS. T 2 in Business & Finance ➔ Credit
It's not so much about the credit score. It really comes down to what you're trying to get financed for, and what type of credit depth you've got.
Say you have one credit card with a $1,000 limit, and you want to lease a car. You may well have a 700 credit score, but no lender is going to lease you a car if you've only got a total credit line of $1,000.
On the other hand, if you've got a 660 credit score, and 5 credit cards, a mortgage, and another auto loan, you'll likely not need a co-signer because you've proven to the lender that you've got a lot of credit history, and a decent score of 660.
Learn more about credit and mortgage:
http://www.thetruthaboutmortgage.com
http://www.thetruthaboutcreditcards.com
2006-12-26 12:24:28 · answer #1 · answered by Todd S 3 · 0⤊ 0⤋
There are a lot of factors that determine that. Yes you need a good score 550 and above typically. Also a key factor with lower scores is your debt to income ratio that plays a factor and any negative info.
I would suggest that if you are having a problem in a loan and do not want a co signor then shop around a bit. I am unsure what you are looking for but if it is a car loan then really shop around.
2006-12-26 12:16:12 · answer #2 · answered by logan 5 · 0⤊ 0⤋
What the person above me said plus you have to have been attaining credit for over a year to be in truly good standings with any loan officers.. Unless they let you slide. I've been having a horrible time about getting loans and such. I actually had to drop out of college because of it. Blech.. The whole thing is stupid.
2006-12-26 12:17:50 · answer #3 · answered by ninjetterah 1 · 0⤊ 0⤋
No rule is set in stone... credit score is part of the equation, should be above 620 and your debt ratios also need to be good too.
2006-12-26 12:15:44 · answer #4 · answered by Heatmizer 5 · 0⤊ 0⤋
620 is probably the cut off point for lenders...anything under that and you may need a co-signer.
2006-12-26 12:14:58 · answer #5 · answered by Kevin K 3 · 0⤊ 0⤋
in all probability, that is complicated to assert for particular. you could attempt to get a private loan on your guy or woman and in the event that they do no longer assist you, then have your father and mom co-sign. in the event that they contain you the 1st time purely in case that is going to keep the hardship of going lower back later. in case you do prefer them to co-sign for you confirm you sustain on the money although. you do no longer opt to destroy their credit too. sturdy success.
2016-12-18 19:37:17 · answer #6 · answered by Erika 3 · 0⤊ 0⤋
it would have to be considered in good standing, some where between 650-750.
2006-12-26 12:13:24 · answer #7 · answered by Anonymous · 0⤊ 0⤋
700 you can get approved no problem
2006-12-26 12:14:29 · answer #8 · answered by b 2 · 0⤊ 0⤋