QUESTION
will being a co-signer for a loan hurt my credit score or hinder my abillity to purchase a home in the future?
Asked on Jun 07th, 2015 on Contracts - Illinois
More details to this question:
my daughter is afraid to help me get a car by being a co-applicant because she thinks it will affect her credit rating
1 ANSWER
It may. Anyone offering her financing will consider what obligations she already has. The more obligations she has, the less ability she will have to get credit, or if she does, it may not be on the same favorable terms as shw would have been offered if she was not obligated on your car loan.
Answered on Jun 09th, 2015 at 9:26 AM