Best Co-Signed or Joint Personal Loans in 2025

What’s the difference between a co-signer and a co-borrower?

How to get a personal loan with a co-signer or co-borrower

1. 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.
2. 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 personal loan requirements and features from multiple lenders and select a few that meet your needs. 
3. Pre-qualify and add a co-applicant. Pre-qualify with multiple lenders to compare estimated rates and terms. The online application might prompt you to pre-qualify together. Alternatively, you might only get the option to add a co-applicant after you’ve gone through the pre-qualification process as a solo applicant.
4. Submit your application and get funded. Once you select your preferred lender and submit an application, the lender will likely do a hard credit check on you and your co-applicant. If approved, expect to receive your funds within a few days.

When is a co-signer or co-borrower a good idea?

• 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. Adding someone to the application could get you a lower rate, meaning lower monthly payments and a less expensive loan overall.

• The co-applicant’s credit score.
• The co-applicant’s credit history.
• The co-applicant’s debt-to-income ratio.
• The lender’s underwriting criteria.

Risks of adding a co-signer or co-borrower