Thursday, March 21, 2013

Would I be able to cosign a loan for my daughter. She has a credit ...

Your daughter is not eligible for a loan with a credit score of 542, therefore, she couldn't co-sign with you.????? The loan decisions are made on the mid credit score of the person with the lowest scores.

A gift you could give her is providing with her with information on improving her credit scores.? The forums at myfico.com are excellent.?? (She should do this for herself, not you doing it for her.)?? While she's working on improving her credit, she will have time to save up a good down payment, closing costs and emergency fund.

Source: http://www.zillow.com/advice-thread/Would-I-be-able-to-cosign-a-loan-for-my-daughter-She-has-a-credit-score-of-542/483910/

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