Question
Question 5 of 5 Which of these criteria make a person a good cosigner? They have many debts They have a steady job They rent an apartment They pay their bills late
Ask by Osborne Bowers. in the United States
Feb 26,2025
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Answer
A steady job is the best criterion for a good cosigner.
Solution
The best criterion listed is that they have a steady job.
A cosigner must be financially stable and reliable, and having a steady job typically demonstrates income stability, which reassures the lender that the cosigner can cover payments if the primary borrower defaults. The other options either indicate potential financial risk (many debts, late bill payments) or are not strong indicators of financial stability (renting an apartment).
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A good cosigner typically has a steady job, showcasing their financial stability and ability to make consistent payments. Lenders like to see a reliable income source, often from a long-term position, which can provide assurance that they can cover the loan if the primary borrower fails to do so. Additionally, a good cosigner should have a good credit history. This means they pay their bills on time and manage debts responsibly. Lenders are more likely to view a cosigner with a solid credit score as a lower risk, leading to better loan terms, such as lower interest rates.
