Wednesday, July 15, 2009

Will it affect my credit score and borrowing amount for future loans if I'd be a co-signer for

I%26#039;ve just applied as a cosigner for my son%26#039;s college loan. Will it affect my credit score and the amount I%26#039;d be eligible to borrow in the future mortgages and home equity loans? (I have a perfect credit history and some mortgage-free properties)



Will it affect my credit score and borrowing amount for future loans if I%26#039;d be a co-signer for a student loan?

Have your son fill out a FAFSA at his college. Even if he doesn%26#039;t qualify for financial aide, he can get a student loan without a co signer.



Will it affect my credit score and borrowing amount for future loans if I%26#039;d be a co-signer for a student loan?

I think it can either help you or hurt you, depending on if your payments are made on time, etc. So if it%26#039;s your son making the payments, your going to have to keep on top of it always

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