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4 answers

The reason that the bank won't give you the loan is because they do not believe that you will ever pay them back the money. Therefore, they require that someone sign the loan with you. This MUST be someone that they believe will pay them the money back. Since your potential cosigner could probably not get a loan by themselves without a job, I almost guarentee you that you will not be able to use them as a cosigner.

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2007-06-07 02:03:57 · answer #1 · answered by Chris G 3 · 0 0

The co-signer must have good credit to get the loan. depending on your co-signers situation they may need a job or some form of income.

2007-06-03 11:26:46 · answer #2 · answered by dunebugger 2 · 0 0

His/Her income and credit rating also goes into the mix. If you need credit you need an income in order to pay it back so Yes

2007-06-03 11:27:05 · answer #3 · answered by Pengy 7 · 0 0

Yes, they have to show they have some sort of income, savings, etc in case you cant pay it

2007-06-03 11:27:31 · answer #4 · answered by prodigychild_21 4 · 0 0

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