LendingClub: Best for Personal loans with a co-borrower
Qualifications:
Key Facts:You can use a joint loan from LendingClub for most expenses, including paying down one person's debt.
Qualifications:- Minimum credit score: 600; average borrower score is above 700.
- Minimum income: None; lender requires proof of income. Borrower average is $100,000 per year.
- Maximum DTI: 40%.
- Minimum credit history: 36 months and two accounts.
Available Term Lengths:2 to 6 yearsFees:- Origination fee: 0%-8%
- Late fee: 5% of payment or $15 after 15-day grace period.
- Insufficient funds: $15.
Upgrade: Best for Personal loans with a co-borrower
Qualifications:
Key Facts:Upgrade allows co-signers to help borrowers get approved. The joint applicant must meet its credit requirements. Joint income is also considered.
Qualifications:- Minimum credit score: 580.
- Minimum number of accounts on credit history: One account.
- Maximum debt-to-income ratio: 75%, including mortgage payments.
- Minimum length of credit history: Two years.
- Minimum income requirement: None. Lender accepts income from alimony, retirement, child support, Social Security, disability benefits and other sources.
Available Term Lengths:2 to 7 yearsFees:- Origination fee: 1.85% to 9.99%.
- Late Fee: $10.
- Failed payment fee: $10.
SoFi Personal Loan: Best for Personal loans with a co-borrower
Qualifications:
Key Facts:Adding someone to a SoFi loan application could get you approved for more favorable terms than you could get alone.
Qualifications:- Must be at least 18 years old in most states.
- Must be a U.S. citizen, permanent or non-permanent resident, including DACA recipients and asylum seekers.
- Must be employed, have sufficient income from another source, or have an offer of employment to start within the next 90 days.
- Acceptable income sources: Employment, spouse’s income, retirement, alimony, child support, Social Security payments and disability benefits.
Available Term Lengths:2 to 7 yearsFees:- Origination fee: 0% to 7%.
- Late fee: None.
Achieve Personal Loans: Best for Personal loans with a co-borrower
Qualifications:
Key Facts:Achieve personal loans can be a good debt consolidation option for fair- or good-credit borrowers who qualify for one of the lender’s rate discounts.Qualifications:- Minimum credit score: 640.
- Maximum debt-to-income ratio: 70% including a mortgage payment or other housing expense.
- Minimum income: None.
- Minimum credit history: 3 years across 2 accounts.
- Must be a U.S. citizen or permanent resident living in a state where Achieve operates.
- Must provide a Social Security number or ITIN.
Available Term Lengths:2 to 5 yearsFees:- Origination fee: 1.99% - 8.99%.
- Late fee: $8.
LightStream: Best for Personal loans with a co-borrower
Qualifications:
Key Facts:LightStream lets you borrow money alone or with a co-borrower. Adding a co-borrower could reduce your rate or increase the amount you can borrow.
Qualifications:- Minimum credit score: 660, but can vary depending on the loan purpose and amount.
- Maximum debt-to-income ratio: 50%.
- Minimum credit history: 3 years.
- Income sources accepted: Employment, retirement, rental income, alimony, child support, Social Security payments and disability benefits.
- Must be a U.S. citizen or permanent resident who is at least 18 years old and has a U.S. bank account.
Available Term Lengths:2 to 7 yearsFees:- Origination fee: None.
- Late fee: None.
USAA Personal Loan: Best for Personal loans with a co-borrower
Qualifications:
Key Facts:USAA offers fast personal loans to members and includes a wide range of loan amounts and terms to choose from.Qualifications:- Must be a USAA member.
Available Term Lengths:1 to 7 yearsFees:- Origination fee: None.
- Late fee: 5% of the loan payment.
- Returned payment fee: $25.
U.S. Bank Personal Loan: Best for Personal loans with a co-borrower
Qualifications:
Key Facts:With a wide range of loan amounts and terms plus fast funding, U.S. Bank is a strong option for customers, but non-customers may find better loans elsewhere.Qualifications:- Be 18 years or older.
- Provide Social Security number.
- Provide home address and employment information.
Available Term Lengths:1 to 7 yearsFees:
PNC Bank Personal Loan: Best for Personal loans with a co-borrower
Qualifications:
Key Facts:For borrowers who want flexibility, PNC delivers with a wide range of repayment terms and a joint loan option, but non-customers may need to visit a branch to close the loan.Qualifications:- Minimum credit score: None.
- Provide date of birth and Social Security number.
- Provide photo ID.
- Proof of income. PNC accepts income from employment, alimony, retirement, child support, Social Security payments, investments, rental income and inheritance
Available Term Lengths:6 months to 5 yearsFees:- Origination fee: None.
- Late fee: Greater of $40 or 10% of amount due, after 15-day grace period.
Truist Bank Personal Loan: Best for Personal loans with a co-signer
Qualifications:
Key Facts:Truist Bank offers fast personal loans to borrowers with strong credit. These loans include the option to add a co-applicant, but lack key benefits that are common with other lenders.Qualifications:- Must provide personal and contact information, including a U.S.-based cell phone number.
- Must provide two years of address and employment history.
- Must provide financial information including income, debts and other personal obligations, like rent or mortgage.
Available Term Lengths:2 to 7 yearsFees:- Late fee.
- Non-sufficient funds fee.
- Fees vary by state.
First Tech Credit Union Personal Loan: Best for Personal loans with a co-signer or co-borrower
Qualifications:
Key Facts:First Tech’s personal loans are a sound option for members who want a customizable loan with fast funding.Qualifications:- Minimum credit score: 660.
- Maximum debt-to-income ratio: 50%.
- Must be a member of First Tech Federal Credit Union.
- Must provide a Social Security number and copy of your driver's license or other state-issued ID.
Available Term Lengths:6 months to 7 yearsFees:- Late fee: $29
PenFed Credit Union Personal Loan: Best for Personal loans with a co-signer or co-borrower
Qualifications:
Key Facts:PenFed offers personal loans up to $50,000 to use for almost any purpose.Qualifications:- Must be a PenFed Credit Union member or consent to becoming a member.
Available Term Lengths:1 to 5 yearsFees:- Late fee: $29
- Non-sufficient funds fee: $30.
- Stop payment fee for checks: $15.
Laurel Road Personal Loan: Best for Personal loans with a co-signer or co-borrower
Qualifications:
Key Facts:Laurel Road’s personal loans are a strong fit for good-credit borrowers who qualify for a low rate. Special terms are available for borrowers in the medical profession.Qualifications:- Minimum credit score: 680.
- Minimum credit history: 2 years and 2 active accounts.
- Maximum debt-to-income ratio: 43%, including housing costs, for most applicants (48% for some).
- Acceptable sources of income: Employment, retirement, alimony, child support, Social Security payments and disability benefits.
- Must be a U.S. citizen or a permanent resident with a valid I-551 card.
- No bankruptcies.
Available Term Lengths:3 to 5 yearsFees:- Late fee: 5% of the payment amount or $28, whichever is less.
- Non-sufficient funds fee: $20.
Navy Federal Credit Union Personal Loan: Best for Personal loans with a co-signer or co-borrower
Qualifications:
Key Facts:Navy Federal personal loans may be a good fit for most members, thanks to flexible amounts, consumer-friendly features and quick funding time.Qualifications:- Must be a Navy Federal Credit Union member to apply.
- No minimum credit score requirement.
- Must provide personal information and contact details.
- Must provide information on income and employment.
Available Term Lengths:1 to 5 yearsFees:- Origination fee: None.
- Returned payment fee: $29.
- Late fee: $29.
- Federal Express fee: $5.65.
- Certified Mail fee: $5.83.
LendingClub: Best for Personal loans with a co-borrower
Qualifications:
Key Facts:You can use a joint loan from LendingClub for most expenses, including paying down one person's debt.
Qualifications:- Minimum credit score: 600; average borrower score is above 700.
- Minimum income: None; lender requires proof of income. Borrower average is $100,000 per year.
- Maximum DTI: 40%.
- Minimum credit history: 36 months and two accounts.
Available Term Lengths:2 to 6 yearsFees:- Origination fee: 0%-8%
- Late fee: 5% of payment or $15 after 15-day grace period.
- Insufficient funds: $15.
Upgrade: Best for Personal loans with a co-borrower
Qualifications:
Key Facts:Upgrade allows co-signers to help borrowers get approved. The joint applicant must meet its credit requirements. Joint income is also considered.
Qualifications:- Minimum credit score: 580.
- Minimum number of accounts on credit history: One account.
- Maximum debt-to-income ratio: 75%, including mortgage payments.
- Minimum length of credit history: Two years.
- Minimum income requirement: None. Lender accepts income from alimony, retirement, child support, Social Security, disability benefits and other sources.
Available Term Lengths:2 to 7 yearsFees:- Origination fee: 1.85% to 9.99%.
- Late Fee: $10.
- Failed payment fee: $10.
SoFi Personal Loan: Best for Personal loans with a co-borrower
Qualifications:
Key Facts:Adding someone to a SoFi loan application could get you approved for more favorable terms than you could get alone.
Qualifications:- Must be at least 18 years old in most states.
- Must be a U.S. citizen, permanent or non-permanent resident, including DACA recipients and asylum seekers.
- Must be employed, have sufficient income from another source, or have an offer of employment to start within the next 90 days.
- Acceptable income sources: Employment, spouse’s income, retirement, alimony, child support, Social Security payments and disability benefits.
Available Term Lengths:2 to 7 yearsFees:- Origination fee: 0% to 7%.
- Late fee: None.
Achieve Personal Loans: Best for Personal loans with a co-borrower
Qualifications:
Key Facts:Achieve personal loans can be a good debt consolidation option for fair- or good-credit borrowers who qualify for one of the lender’s rate discounts.Qualifications:- Minimum credit score: 640.
- Maximum debt-to-income ratio: 70% including a mortgage payment or other housing expense.
- Minimum income: None.
- Minimum credit history: 3 years across 2 accounts.
- Must be a U.S. citizen or permanent resident living in a state where Achieve operates.
- Must provide a Social Security number or ITIN.
Available Term Lengths:2 to 5 yearsFees:- Origination fee: 1.99% - 8.99%.
- Late fee: $8.
LightStream: Best for Personal loans with a co-borrower
Qualifications:
Key Facts:LightStream lets you borrow money alone or with a co-borrower. Adding a co-borrower could reduce your rate or increase the amount you can borrow.
Qualifications:- Minimum credit score: 660, but can vary depending on the loan purpose and amount.
- Maximum debt-to-income ratio: 50%.
- Minimum credit history: 3 years.
- Income sources accepted: Employment, retirement, rental income, alimony, child support, Social Security payments and disability benefits.
- Must be a U.S. citizen or permanent resident who is at least 18 years old and has a U.S. bank account.
Available Term Lengths:2 to 7 yearsFees:- Origination fee: None.
- Late fee: None.
USAA Personal Loan: Best for Personal loans with a co-borrower
Qualifications:
Key Facts:USAA offers fast personal loans to members and includes a wide range of loan amounts and terms to choose from.Qualifications:- Must be a USAA member.
Available Term Lengths:1 to 7 yearsFees:- Origination fee: None.
- Late fee: 5% of the loan payment.
- Returned payment fee: $25.
U.S. Bank Personal Loan: Best for Personal loans with a co-borrower
Qualifications:
Key Facts:With a wide range of loan amounts and terms plus fast funding, U.S. Bank is a strong option for customers, but non-customers may find better loans elsewhere.Qualifications:- Be 18 years or older.
- Provide Social Security number.
- Provide home address and employment information.
Available Term Lengths:1 to 7 yearsFees:
PNC Bank Personal Loan: Best for Personal loans with a co-borrower
Qualifications:
Key Facts:For borrowers who want flexibility, PNC delivers with a wide range of repayment terms and a joint loan option, but non-customers may need to visit a branch to close the loan.Qualifications:- Minimum credit score: None.
- Provide date of birth and Social Security number.
- Provide photo ID.
- Proof of income. PNC accepts income from employment, alimony, retirement, child support, Social Security payments, investments, rental income and inheritance
Available Term Lengths:6 months to 5 yearsFees:- Origination fee: None.
- Late fee: Greater of $40 or 10% of amount due, after 15-day grace period.
Truist Bank Personal Loan: Best for Personal loans with a co-signer
Qualifications:
Key Facts:Truist Bank offers fast personal loans to borrowers with strong credit. These loans include the option to add a co-applicant, but lack key benefits that are common with other lenders.Qualifications:- Must provide personal and contact information, including a U.S.-based cell phone number.
- Must provide two years of address and employment history.
- Must provide financial information including income, debts and other personal obligations, like rent or mortgage.
Available Term Lengths:2 to 7 yearsFees:- Late fee.
- Non-sufficient funds fee.
- Fees vary by state.
First Tech Credit Union Personal Loan: Best for Personal loans with a co-signer or co-borrower
Qualifications:
Key Facts:First Tech’s personal loans are a sound option for members who want a customizable loan with fast funding.Qualifications:- Minimum credit score: 660.
- Maximum debt-to-income ratio: 50%.
- Must be a member of First Tech Federal Credit Union.
- Must provide a Social Security number and copy of your driver's license or other state-issued ID.
Available Term Lengths:6 months to 7 yearsFees:- Late fee: $29
PenFed Credit Union Personal Loan: Best for Personal loans with a co-signer or co-borrower
Qualifications:
Key Facts:PenFed offers personal loans up to $50,000 to use for almost any purpose.Qualifications:- Must be a PenFed Credit Union member or consent to becoming a member.
Available Term Lengths:1 to 5 yearsFees:- Late fee: $29
- Non-sufficient funds fee: $30.
- Stop payment fee for checks: $15.
Laurel Road Personal Loan: Best for Personal loans with a co-signer or co-borrower
Qualifications:
Key Facts:Laurel Road’s personal loans are a strong fit for good-credit borrowers who qualify for a low rate. Special terms are available for borrowers in the medical profession.Qualifications:- Minimum credit score: 680.
- Minimum credit history: 2 years and 2 active accounts.
- Maximum debt-to-income ratio: 43%, including housing costs, for most applicants (48% for some).
- Acceptable sources of income: Employment, retirement, alimony, child support, Social Security payments and disability benefits.
- Must be a U.S. citizen or a permanent resident with a valid I-551 card.
- No bankruptcies.
Available Term Lengths:3 to 5 yearsFees:- Late fee: 5% of the payment amount or $28, whichever is less.
- Non-sufficient funds fee: $20.
Navy Federal Credit Union Personal Loan: Best for Personal loans with a co-signer or co-borrower
Qualifications:
Key Facts:Navy Federal personal loans may be a good fit for most members, thanks to flexible amounts, consumer-friendly features and quick funding time.Qualifications:- Must be a Navy Federal Credit Union member to apply.
- No minimum credit score requirement.
- Must provide personal information and contact details.
- Must provide information on income and employment.
Available Term Lengths:1 to 5 yearsFees:- Origination fee: None.
- Returned payment fee: $29.
- Late fee: $29.
- Federal Express fee: $5.65.
- Certified Mail fee: $5.83.
What’s the difference between a co-signer and a co-borrower?
Co-signers and co-borrowers have a similar effect on a personal loan application but different responsibilities for repaying the loan and accessing funds.
Co-signer: A co-signer vouches for someone else’s loan application and agrees to repay it if the borrower doesn’t. The co-signer can’t access the loan proceeds, nor can they see information about the loan, like how much you’ve repaid or if you missed a payment, says Massachusetts-based certified financial planner Therese Nicklas.
Co-borrower: A co-borrower is a partner applicant on a joint personal loan and shares responsibility for repayment. This person has equal access to loan funds and payment information.
How to get a personal loan with a co-signer or co-borrower
Here are the steps to get a personal loan with a co-applicant.
Check both of your credit and financial information. The lender will weigh both applicants’ credit scores, incomes and debt-to-income ratios. Familiarize yourself with this information to set expectations before applying.
Compare lenders. Some lenders have specific requirements for joint loan applicants, while a co-signer is typically expected to have better credit and income than the primary borrower. Compare qualification criteria and loan features from multiple lenders to choose one that best meets your needs.
Pre-qualify and add a co-applicant. The pre-qualification process is different for joint and co-signed loans. Joint loan applicants can often pre-qualify together to preview potential rates and loan amounts. Co-signed loan applicants typically must pre-qualify by themselves with an online lender and, depending on the results, a lender may provide a co-signed loan option. For bank and credit union loans, both borrowers may be required to apply over the phone or in person.
Submit your application and get funded. Once you submit an application, the lender will do a hard credit check on you and your co-applicant. If approved, expect to receive your funds within a few days. Keep in mind that a co-signer can’t access the loan funds or payment information, while a joint borrower can.
» Get started: Pre-qualify on NerdWallet
When is a co-signer a good idea?
Lenders use information like your credit and income to decide whether you qualify and what your loan amount and annual percentage rate should be. Adding someone with better credit, higher income and low debt to support your application makes a lender more confident that the loan will be repaid.
A co-signer can help if:
You have bad credit. There are personal loans for bad credit, but few lenders approve applicants with credit scores below 600. If that’s you, a co-applicant with better credit could increase your approval odds.
You want a larger loan. Lenders offer the largest loans to well-qualified applicants, so including a co-applicant could increase the size of your loan.
You need a lower rate. Since the APR affects your monthly payments, adding someone to the application could get you a lower rate, meaning a less expensive loan.
» MORE: See your bad-credit loan options
How much a co-signer or co-borrower helps depends on factors such as:
The co-applicant’s credit score.
Both your credit histories.
Your combined debt-to-income ratio.
The lender’s underwriting criteria.
Risks of adding a co-signer
It’s important for you and your co-applicant to understand the risks of co-signing before submitting an application. These can include:
A hard credit inquiry, which will temporarily lower both of your credit scores.
Higher debt-to-income ratios for both of you, which could make it harder to access credit during the life of the loan.
Damage to both of your credit scores if a payment is missed.
Damage to the relationship, which could be harder to salvage than your credit.
Last updated on August 2, 2023
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NerdWallet's Personal Loans With a Co-Signer in 2023 of July 2025
- LendingClub: Best for Personal loans with a co-borrower
- Upgrade: Best for Personal loans with a co-borrower
- SoFi Personal Loan: Best for Personal loans with a co-borrower
- Achieve Personal Loans: Best for Personal loans with a co-borrower
- LightStream: Best for Personal loans with a co-borrower
- USAA Personal Loan: Best for Personal loans with a co-borrower
- U.S. Bank Personal Loan: Best for Personal loans with a co-borrower
- PNC Bank Personal Loan: Best for Personal loans with a co-borrower
- Truist Bank Personal Loan: Best for Personal loans with a co-signer
- First Tech Credit Union Personal Loan: Best for Personal loans with a co-signer or co-borrower
- PenFed Credit Union Personal Loan: Best for Personal loans with a co-signer or co-borrower
- Laurel Road Personal Loan: Best for Personal loans with a co-signer or co-borrower
- Navy Federal Credit Union Personal Loan: Best for Personal loans with a co-signer or co-borrower
