Co-signing 101

Answer: B and C!

We’ve all heard the term, but do we really know what it entails?

Co-signing means signing a loan or a lease with another person to guarantee payment. The co-signer is responsible for the debt if the primary borrower default.

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Should you co-sign?

It depends! There's no definite right or wrong answer; understanding the pros and cons is crucial for protecting your credit score, DTI, and your relationship with the borrower.
Pros: Co-signing can help the primary borrower get better interest rates, build credit, or qualify for loans they otherwise couldn’t. For example, a married couple might co-sign to boost their buying power for a home.
Cons/Risks: The risks often outweigh the benefits. Co-signing can increase your debt-to-income ratio, affecting your ability to make large purchases. It can also hurt your credit score if the borrower makes late payments or defaults. You might even end up paying the loan yourself if things go south. And remember, it’s a long-term commitment—relationships can change, but loan terms don’t.

Don't take our word for it. Check out our reviews!

As a lender, UQUAL has been an amazing resource for my team and I! They have been a great resource for my clients and crucial in helping them get into a new home. They are very quick to respond and knowledgeable about helping clients get their situations ready for the home buying process. Clients have been very grateful for the UQUAL team!

Megan Jones https://g.co/kgs/cvbGhVJ

Why are there only 5 Stars???? Brian, Crystal and the Team at UQUAL deserve a GALAXY of Stars!! UQUAL is in a LEAGUE OF THEIR OWN when it comes to helping folks achieve home ownership! Not only are the folks at UQUAL super Smart, but they are empathetic, calm and kind! And they keep the clients we refer - and us - updated every step of the way! Everyone I've referred to UQUAL has been BETTER for having worked with them - including our Mortgage Team! UQUAL has amazing people, impeccable service and they are Changing Lives in the best possible way!⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐⭐

Barbie Vail https://g.co/kgs/DQSjF1B

I absolutely love the quality-of-service Uqual provide to our clients. I've had the pleasure of working with Emily Dalbey for over 3 months and although I’ve never met her, the genuineness of her voice, her work ethics and her sincerity makes me feel so comfortable and confident in her quality of work she provides. She is always familiar with each client and their status. Most importantly she delivers exactly what is expected. Very impressive!! I would recommend Emily/UQUAL to anyone. https://g.co/kgs/s34R6xJ

Kavita Sookho https://g.co/kgs/s34R6xJ

I have worked with UQUAL for many years. My account rep Vincent Baccarella is always available to assist when we need it! The team has been simply outstanding at helping quite a few mortgage applicants fix credit issues and/or boost their scores to where they can qualify for their home loan. I love the frequent follow ups with active clients and I also love how easy it is to submit a referral through my own portal. I can even track progress of each client in this portal as well. From fixing one credit account error to helping with a massive overhaul of a client's credit, they have helped me in so many ways! I highly recommend this team and their services!

Julie Wood https://g.co/kgs/QC4nQih

I would like to take a moment to THANK Ashli and her team over at UQUAL for all of their hard work and dedication to our team. I am a Pennsylvania loan officer that have sent them multiple clients for credit repair and budgeting assistance. I have a client that went under contract for their first home after UQUAL raised their credit score 76 points in only 34 days! There are many people in the world that could use their help into achieving their dream of homeownership. All the praise I can give!

Brandon Beatty https://g.co/kgs/kmyHjT5

As a lender, I often have clients that need help with loan readiness, but if I am going to refer a client, I want to know that I am working with a reputable company. Ashley has been great to work with and provides quality, personal service to my clients who are looking to be prepared for a home loan. Highly recommend!

Melanie Becks https://g.co/kgs/ZS3Ki43

UQUAL is amazing! I am a mortgage loan officer and Ashley Crowley is my rep - her and her team take such good care of my clients who need loan readiness preparation and help them prepare for homeownership! Their updates and support are unmatched.

Carli Steiner https://g.co/kgs/MkWfUQo

I am a realtor in Charleston, SC and Uqual has been amazing for my clients! I met Juan and Donovan through one of my preferred lenders and I have been extremely impressed with their ability to prepare clients who are wanting to purchase! I highly recommend this company!

JaVonna Alexander https://g.co/kgs/dHvE9eX

My realtor referred me to Uqual. Specifically to JP and his amazing team. My credit had dropped after being unemployed and after becoming gainfully employed, I decided to buy my first home. I couldn't get pre-approved. In February 2024 I joined Uqual. JP was so thorough and patient, he explained the whole process. I followed simple instructions, paid a very small fee (I did not have to pay any creditors) and within two months I was approved! My score is high enough now for purchasing a house and to qualify for down payment assistance! Thanks JP!!!

Kimberly Reddick https://g.co/kgs/53ZVjNi

Uqual is a dedicated and experienced team of professionals. that has helped guide my clients through, the difficult process. of raising their credit worthiness to get to the next step of home ownership. I highly recommend using their services.

Phillip Cornelius https://g.co/kgs/ewmH7SX