We receive advertising fees from the brands we review that affect the ranking and scoring. Advertiser Disclosure
This website is an informative comparison site that aims to offer its users find helpful information regarding the products and offers that will be suitable for their needs. We are able to maintain a free, high-quality service by receiving advertising fees from the brands and service providers we review on this website (though we may also review brands we are not engaged with). These advertising fees, combined with our criteria and methodology, such as the conversion rates, our team of reviewer's finding and subjective experience and product popularity, impact the placement and position of the brands within the comparison table. In the event rating or scoring are assigned by us, they are based on the position in the comparison table, or according to other formula in the event specifically detailed by us. See our How we Rate page and Terms of Use for information. The reviews, rating and scoring are provided “as-is” without guaranties or warranties regarding the information contained in our website, which shall not be considered as endorsement. We make the best efforts to keep the information up-to-date, however, an offer’s terms might change at any time. We do not compare or include all service providers, brands and offers available in the market.

Best Personal Loans With a Co-Signer

A co-signer loan — or joint loan — is a personal loan you get with the help of a co-signer. Having a co-signer can make it easier to qualify for financing, especially if you have poor credit or low income. With a co-signer, you might also be able to get better terms, lower interest rates, or a larger loan amount.

Quick links

Compare The Top Co-Signer Personal Loans

Below are some of the best lenders who offer co-signer personal loans. Compare rates, terms, and amounts.

LightStream Division of SunTrust Bank
  • APR: 7.49 - 24.49%
  • Loan Term: 24 - 84* months
  • Min Credit Score: 660
View details
Key facts
  • Good credit gets low rates and zero fees
  • Fast and easy online process
  • $100 Loan Experience Guarantee¹

Read LightStream Review »

*Your loan terms, including APR, may differ based on loan purpose, amount, term length, and your credit profile. Lowest rates require excellent credit. Rateis quoted with AutoPay discount. AutoPay discount is only available prior to loan funding. Rates without AutoPay are 0.50% points higher. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice. Payment example: Monthly payments for a $10,000 loan at 4.99% APR with a term of 3 years would result in 36 monthly payments of $299.66. 1After receiving your loan from us, if you are not completely satisfied with your experience, please contact us. We will email you a questionnaire so we can improve our services. When we receive your completed questionnaire, we will send you $100. Our guarantee expires 30 days after you receive your loan. We reserve the right to change or discontinue our guarantee at any time. Limited to one $100 payment per funded loan. Truist teammates do not qualify for the Loan Experience Guarantee. Truist Bank is an Equal Housing Lender. © 2021 Truist Financial Corporation. SunTrust, Truist, LightStream, the LightStream logo, and the SunTrust logo are service marks of Truist Financial Corporation. All other trademarks are the property of their respective owners. Lending services provided by Truist Bank.

SoFi Low Rates. No Fees are Required.
  • APR: 8.99-23.43%
  • Loan Term: 24-84 months
  • Min Credit Score: 680
View details
Key facts
  • Competitive rates available for good credit scores and income source
  • Access to financial advisors, private networking events, & unemployment protection
  • Flexible terms & payment options with no fees whatsoever

Read SoFi Review »

Fixed rates from 8.99% APR to 23.43% APR reflect the 0.25% autopay interest rate discount and a 0.25% direct deposit interest rate discount. SoFi rate ranges are current as of 03/06/23 and are subject to change without notice. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed and will depend on the term you select, evaluation of your creditworthiness, income, and a variety of other factors.Loan amounts range from $5,000– $100,000. The APR is the cost of credit as a yearly rate and reflects both your interest rate and an origination fee of 0%-6%, which will be deducted from any loan proceeds you receive.Autopay: The SoFi 0.25% autopay interest rate reduction requires you to agree to make monthly principal and interest payments by an automatic monthly deduction from a savings or checking account. The benefit will discontinue and be lost for periods in which you do not pay by automatic deduction from a savings or checking account. Autopay is not required to receive a loan from SoFi.Direct Deposit Discount: To be eligible to potentially receive an additional (0.25%) interest rate reduction for setting up direct deposit with a SoFi Checking and Savings account offered by SoFi Bank, N.A. or eligible cash management account offered by SoFi Securities, LLC (“Direct Deposit Account”), you must have an open Direct Deposit Account within 30 days of the funding of your Loan. Once eligible, you will receive this discount during periods in which you have enabled payroll direct deposits of at least $1,000/month to a Direct Deposit Account in accordance with SoFi’s reasonable procedures and requirements to be determined at SoFi’s sole discretion. This discount will be lost during periods in which SoFi determines you have turned off direct deposits to your Direct Deposit Account. You are not required to enroll in direct deposits to receive a Loan.

Upstart 4.9/5 Rating on Trustpilot
  • APR: 5.40-35.99%
  • Loan Term: 36-60 months
  • Min Credit Score: 580
View details
Key facts
  • Great for students & recent grads with no credit history
  • AI & machine learning automate the borrowing process
  • A variety of personal loan types available for your needs

Read Upstart Review »

* Your loan amount will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will qualify for the full amount. The minimum loan amount in MA is $7,000. The minimum loan amount in Ohio is $6,000. The minimum loan amount in NM is $5,100. The minimum loan amount in GA is $3,100. ● This offer is conditioned on final approval based on our consideration and verification of financial and non-financial information. Rate and loan amount are subject to change based upon information received in your full application. This offer may be accepted only by the person identified in this offer, who is old enough to legally enter into contract for the extension of credit, a US citizen or permanent resident, and a current resident of the U.S. Duplicate offers received are void. Closing your loan is contingent on your meeting our eligibility requirements, our verification of your information, and your agreement to the terms and conditions on the www.upstart.com website. ● The full range of available rates varies by state. The average 3-year loan offered across all lenders using the Upstart platform will have an APR of 25.79% and 36 monthly payments of $37 per $1,000 borrowed. There is no down payment and no prepayment penalty. Average APR is calculated based on 3-year rates offered in the last 1 month. Your APR will be determined based on your credit, income, and certain other information provided in your loan application. Not all applicants will be approved. Loan example: A $6,000 loan with a 24.99% APR that is repayable in 60 monthly installments would have monthly payments of $176.07 to a total of $10,565.2

LendingClub A Leading P2P Marketplace
  • APR: 8.05-35.89%
  • Loan Term: 36-60 months
  • Min Credit Score: 600
View details
Key facts
  • One of the largest P2P lending partners & investing companies
  • 15-day grace period for late fees
  • Apply in just minutes and receive competitive offers

Read LendingClub Review »

Disclaimer: A representative example of loan payment terms is as follows: you receive a loan of $13,411 for a term of 36 months, with an interest rate of 12.16% and a 5.30% origination fee of $711, for an APR of 15.99%. In this example, you will receive $12,700 and will make 36 monthly payments of $446.46. Loan amounts range from $1,000 to $40,000 and loan term lengths are 36 months or 60 months. Some amounts and term lengths may be unavailable in certain states. APR ranges from 8.05% to 35.89% and is determined at the time of application. Origination fee ranges from 3% to 6% of the loan amount. Lowest APR is available to borrowers with excellent credit. Advertised rates are subject to change without notice. Loans are made by LendingClub Bank, N.A., Member FDIC, Equal Housing Lender (“LendingClub Bank”), a wholly-owned subsidiary of LendingClub Corporation, NMLS ID 167439. LendingClub Bank is not an affiliate of [PARNTER LEGAL NAME] and is not responsible for the products and services provided by [PARNTER NICKNAME]. Loans are subject to credit approval and sufficient investor commitment before they can be funded or issued. Certain information that LendingClub Bank subsequently obtains as part of the application process (including but not limited to information in your consumer report, your income, the loan amount that your request, the purpose of your loan, and qualifying debt) will be considered and could affect your ability to obtain a loan. Loan closing is contingent on accepting all required agreements and disclosures at Lendingclub.com. “LendingClub” is a trademark of LendingClub Bank.

Credible Credible is Free to Use
  • APR: 4.60-35.99%
  • Loan Term: 12-84 months
  • Min Credit Score: 600
View details
Key facts
  • Free-to-use marketplace with a choice of vetted lending partners.
  • Borrowers are in control and can compare competitive loan options.
  • No prepayment fees and origination fees as low as 0%

Read Credible Review »

Credible Disclaimer: “Personal Loans Rate and Terms Disclosure: Rates for personal loans provided by lenders on the Credible platform range between 4.60%-35.99% APR with terms from 12 to 84 months. Rates presented include lender discounts for enrolling in autopay and loyalty programs, where applicable. Actual rates may be different from the rates advertised and/or shown and will be based on the lender’s eligibility criteria, which include factors such as credit score, loan amount, loan term, credit usage and history, and vary based on loan purpose. The lowest rates available typically require excellent credit, and for some lenders, may be reserved for specific loan purposes and/or shorter loan terms. The origination fee charged by the lenders on our platform ranges from 0% to 8%. Each lender has their own qualification criteria with respect to their autopay and loyalty discounts (e.g., some lenders require the borrower to elect autopay prior to loan funding in order to qualify for the autopay discount). All rates are determined by the lender and must be agreed upon between the borrower and the borrower’s chosen lender. For a loan of $10,000 with a three year repayment period, an interest rate of 7.99%, a $350 origination fee and an APR of 11.51%, the borrower will receive $9,650 at the time of loan funding and will make 36 monthly payments of $313.32. Assuming all on-time payments, and full performance of all terms and conditions of the loan contract and any discount programs enrolled in included in the APR/interest rate throughout the life of the loan, the borrower will pay a total of $11,279.43. As of March 12, 2019, none of the lenders on our platform require a down payment nor do they charge any prepayment penalties.”

LendingTree Quick & Easy Online Process
  • APR: 6.99-35.99%
  • Loan Term: 3-180 months
  • Min Credit Score: 550
View details
Key facts
  • The nation’s largest online lending marketplace
  • Over $260 billion in loans facilitated
  • One short form for multiple loan options

Read LendingTree Review »

LendingTree Disclaimer: A Personal Loan can offer funds relatively quickly once you qualify you could have your funds within a few days to a week. A loan can be fixed for a term and rate or variable with fluctuating amount due and rate assessed, be sure to speak with your loan officer about the actual term and rate you may qualify for based on your credit history and ability to repay the loan. A personal loan can assist in paying off high-interest rate balances with one fixed term payment, so it is important that you try to obtain a fixed term and rate if your goal is to reduce your debt. Some lenders may require that you have an account with them already and for a prescribed period of time in order to qualify for better rates on their personal loan products. Lenders may charge an origination fee generally around 1% of the amount sought. Be sure to ask about all fees, costs and terms associated with each loan product. Loan amounts of $1,000 up to $50,000 are available through participating lenders; however, your state, credit history, credit score, personal financial situation, and lender underwriting criteria can impact the amount, fees, terms and rates offered. Ask your loan officer for details. Rates and APR assume fixed rate for the term of the loan may not be available for all consumers, ask your lender for a fixed rate quote. Loan Example: A $10,000 loan with a 5-year term at 13% Annual Percentage Rate (APR) would be repayable in 60 monthly installments of $228 each. The actual payment amount and year-end balance will vary based on the APR, loan amount, and term selected. In this case the total amount expected to pay by the borrower will be $13,680 *This examples are for illustrative purposes only. The examples and match rates are not a guarantee, agreement, or commitment to loan funds or extend credit. Interest rates and terms are subject to change at any time without notice.

What is A Co-Signer Loan, And Who is it Good For?

A co-signer loan is a type of loan that involves a secondary borrower, usually someone with a better credit score, who agrees to take on responsibility for repaying the loan if the primary borrower defaults.

  • Best for: This type of loan can be helpful if you have a bad credit score or no credit history at all.
  • Better chances of approval: Having a co-signer with a good credit history can improve your chances of being approved for a loan and getting more favorable terms, such as lower interest rates.
  • Multipurpose: Co-signer loans can be used for a variety of purposes, including financing a car or home, paying for education, or consolidating debt.
  • Co-signer vs. co-borrower: A co-signer is not the same as a co-borrower. A co-signer can help you qualify for financing if you need it. A co-borrower — like the primary borrower — has full access to the loan’s funds. Both a co-signer and a co-borrower are responsible for repaying the loan, but a co-signer will only make payments if the borrower does not.

Pros and Cons of Using a Co-Signer for a Personal Loan

Co-Signer Loan Pros

  • Easier to get if you have poor credit or limited income
  • May help you qualify for higher rates, better terms, or larger loan amounts
  • Funds can be used for nearly anything

Co-Signer Loan Cons

  • Not all lenders offer co-signer loans
  • Could strain your relationship with your co-signer if you default on payments
  • Both parties are responsible for loan repayment

The biggest perk of having a co-signer is that they can increase your chances of getting a personal loan when you need it most. As long as they’re considered “creditworthy,” the lender will view you as a lower risk and may be more willing to lend you money.

There are a few drawbacks to using a co-signer to back your loan, though. For example, the co-signer will have to repay the debt if you — the primary borrower — default on payments. If that happens and the co-signer is short on funds, this could lead to late fees and hurt both people’s credit score.

How to Get a Co-Signer Personal Loan

The process of getting a joint loan is similar to how you would get a typical personal loan. Some lenders have their own application process, but here’s a general overview of how to do it:

  1. Review your credit. Before you apply for any financial product, it’s important to check your credit. Ask your co-signer to check their credit, too, to make sure it’s high enough to help you qualify for a loan.
  2. Check the lender’s requirements. Most lenders require borrowers to meet certain credit score, income, and debt-to-income (DTI) ratio criteria. If your co-signer meets or exceeds these requirements, you could potentially get better terms or rates.
  3. Gather your documents. Both you and your co-signer will typically need to provide the same documents. This can include your driver’s licenses, Social Security numbers, paystubs, W-2s, and recent bank statements. It may also include contact information from both parties.
  4. Shop around for lenders. Not all lenders offer joint loans, so you may need to shop around to find those that do. It’s also a good idea to compare several lenders before choosing one. Compare their eligibility requirements, loan rates and terms, lender fees, and online reputation. Pick a lender with a competitive offer and minimal to no fees.
  5. Prequalify for a loan. Prequalifying lets you check your possible rates and terms without hurting your credit.
  6. Complete the loan application. After finding the best lender for your co-signer loan, fill out and submit the formal application. Your co-signer will either have to complete their own application or add their information along with yours.
  7. Wait for the decision. The lender will review both your and your co-signer’s information to determine whether to approve or deny your application. This can take anywhere from a day to a couple of weeks, depending on the lender.
  8. Receive funds. Once approved, review and sign the loan agreement. You’ll then receive the funds in your bank account — sometimes within a few business days.
  9. Start making payments. Now that you have a joint loan, you’ll need to start making payments until it’s repaid in full.

Co-Signer Loans: What to Consider

Here are the top things to consider when looking for a co-signer personal loan loan:

  • Co-signer requirements: Your co-signer should be someone with good money management habits and a history of making on-time payments. They should have good or great credit (670+), a steady income, and a low DTI ratio.
  • Cost of the loan: A joint loan comes with its own interest rate and repayment term. Some lenders also charge additional fees, such as origination or prepayment fees. Use an online calculator to determine the total cost of the loan and calculate your estimated monthly payments. Choose a loan that you can comfortably afford to repay.
  • Time to funding: Certain online lenders offer same-day or next-day funding options. This could be a good option if you need the cash quickly.
  • Building credit: You may be able to build credit using a co-signer loan, but you’ll need to keep your credit utilization low and consistently make on-time payments.

Should You Get a Personal Loan With a Co-Signer?

A co-signer personal loan could be a good option if you:

  • Have poor credit or limited credit history
  • Don’t meet the minimum income requirements
  • Have a high DTI ratio
  • Want to get a lower interest rate or better loan term
  • Are trying to build credit and can afford the loan’s monthly payments
  • Have a good relationship with your co-signer

However, a joint loan isn’t always the best idea. A joint loan could add more financial stress or strain your relationship with your co-signer. This can happen if you miss payments, and your co-signer has to pay instead.

When comparing lenders, look into their eligibility requirements. Most lenders will require you to:

  • Be 18+ years of age
  • Be a resident of a state in which the lender operates
  • Have a valid driver’s license or government-issued photo ID
  • Have a minimum credit score and income, as well as a maximum DTI ratio

Does Getting a Co-Signer Affect Your Credit?

Being a co-signer on might assist in establishing credit. The principal loan holder and co-signer share equal financial liability, and the loan will appear on both credit reports. However, your score could also be badly impacted if the primary account holder misses payments.

Indeed, co-signers are expected to make payments if the primary account holder fails to do so – Your credit score might decrease if the recipient makes late or no payments. In addition, while having many credit lines may help you appear favorable to potential lenders, it only accounts for a minor portion of your credit score. Typically, this is only beneficial if you have demonstrated that you can manage many lines of credit over an extended period by making payments on schedule and keeping balances low.

On a final note, your debt would rise as the debt of the consignee would be shown on your credit record. This increase in the debt you owe will be reflected in the relevant section of your credit report.

Alternatives to Co-Signer Loans

If a co-signer loan isn’t right for you, here are a couple of alternatives to consider:

  • Build your credit. If your credit score is holding you back, take some time to improve it. Review your credit reports for errors and dispute them. Make on-time payments and try to lower your existing debt load. If needed, get a secured credit card or credit-builder loan to boost your score over time.
  • Use a secured personal loan. These loans are secured with an asset, or collateral, like a paid-off vehicle or house. If you default on payments, the lender can take the asset instead. This makes them less risky to the lender than unsecured loans. These loans also tend to have more lenient requirements.
  • Get a low-interest credit card. A credit card could be useful if you need to consolidate debt, pay for emergencies, or purchase a big-ticket item. You may need good credit to qualify for a competitive interest rate or higher credit limit, though.
  • Use a loan from your retirement account. If you have a retirement account, you may be able to take out a loan to cover emergencies or other expenses. For example, some 401(k) plans offer 401(k) loans. These loans can be used for almost anything. In the case of a 401(k) loan, you can only borrow up to 50% of your account balance or  $50,000 (whichever is less). Depending on the retirement account, you could be facing an early withdrawal penalty or have to pay taxes on the borrowed amount.

Average Co-Signer Personal Loan Rates

The best co-signer loans will come with flexible repayment terms and a low APR (annual percentage rate). The rate depends on several factors, including the borrower’s and co-signer’s credit scores. Here are a few examples of reputable lenders and their joint loan offers:

Lender* APR (Fixed) Loan Term Loan Amounts Recommended Minimum Credit Score
LightStream 7.99% to 25% 24 to 144 months $5,000 to $100,000 660
SoFi 8.99% to 23.43% 24to 84 months $5,000 to $100,000 680
Upstart 6.70% to 35.99^ 36 to 60 months $1,000 to $50,000 580
LendingClub 8.05% to 36% 36 to 60 months $1,000 to $40,000 600
Credible 5.40% to 35.99% 12 to 84 months $600 to $100,000 600
LendingTree 5.99% to 35.99% 3 to 180 months $1,000 to $50,000 550

*Rates and requirements are subject to change


What is the difference between a co-signer and a co-borrower?

What should you look for in a co-signer?

What credit score is needed for a co-signer?