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If person A cosigns any type of loan for person B, when the credit report of person A is pulled, will the report show that person A has cosigned?

by hjf53499 from Detroit, Michigan. Sep 15th 2017 Reply


William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,000 contributions

In most every scenario, the answer is yes.. There might be a lender out there who does not show the credit obligation on the cosigners credit report, but this would be in very rare circumstances. Understand that when you cosign for someone, you are putting your name and credit on the line by making a commitment that if the primary borrower does not pay, then you will. If a payment is late or not made, then both borrower and cosigner are notified.. and it's both your responsibility to make sure the payment is made.. additionally, if the cosigner wishes to obtain a mortgage after cosigning, then they will need to wait until the borrower makes 12 monthly on time payments from their own account (not a joint account with you).. in order to remove the cosigned mortgage from your debt to income ratio. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

Sep 15th 2017
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Pamela Gordon (pam@thegordongroupinc.com)
#63 ranked lender in Florida - 9 contributions

Absolutely! They will be obligated on the loan the same as person B is. However, if person B pays that loan on time for 12 months and can document it, the financial obligation may not be considered in person A's debt ratios. If person B makes any late payments on the loan, it will show on person A's credit report and impact their score. That is why it is so important to carefully consider before cosigning for someone and to monitor that they are paying the loan on time every month.

Sep 16th 2017
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Mike Silkworth (msilkw_195_870)
#30 ranked lender in Michigan - 519 contributions

Yes, it will show on person A's credit.

Sep 17th 2017
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,553 contributions

Yes... absolutely it will show up on their credit report.

Sep 18th 2017
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