I need a loan but I have a low paying job. How much would my co-signer need to make to qualify?

Question

my job only pays around $400 a month.

Answer 1

Generally, banks want to see an income of $18,000/yr with excellent credit if the loan is under $100,000. That's right, $100,000. It makes no sense, but that's the way it is.

Answer 2

depends on the amount of the loan. how much are you trying to borrow? and for how long?
Edit - DON'T go with spammers! If you only make $400/month, you cannot afford big loans. You couldn't pay it back! Edit and tell me what kind of money you're looking for. Check advances give you til your next payday (even if it's tomorrow!) to pay them back, along with interest. Let's say you borrow $50 and the interest is $15. When you get paid, you pay them $65. Now, if you cannot afford that, you can pay them $65, and then turn around and borrow $50 again, so you've only lost $15.
ONLY do this if you're desperate for money!
Another choice, if you're desperate, is to borrow money from a pawn shop. You bring something of interesting current value -- like gold or a cd player - and borrow money on it. You will get very little money for this, but the interest isn't as bad and you get more time to pay it back. When time's up, if you can't pay it back, pay just the interest, or you'll lose it.
These are things to think about, but like I said, only if you REALLY need to do so.
When you're making more money, you can get a small credit card, like a $300 balance one. Try to only borrow what you can afford to pay back right away, though.
Only scam artists will try to offer you loans for more than you make. Do not trust them! In time they'll ask for fee money, etc., and rip you off, badly.
Good luck.

Answer 3

If you need a loan and only make $400 per month, how do you propose that you will pay this back ? You are living on the most bare of incomes already.

You do not indicate how much you desire to borrow, and the amount will determine how financially solid must be your co-signer.