If you have weak or thin credit, a co-signer or co-borrower can make it easier to get approved for a personal loan and help you access better rates and terms.
We've picked the best lenders for borrowers who want to apply with a co-signer or co-borrower, looking at approval requirements, rates, loan amounts, funding times and other factors. For more on how we made out choices, read our methodology.
Best personal loans with a co-signer or co-borrower
Offers in this section are from affiliate partners and selected based on a combination of engagement, product relevance, compensation, and consistent availability.
6.30% - 35.99%
$1,000 to $75,000
9.95% to 35.99%
$2,000 to $35,000
Best for rate discounts: Upgrade
Who's this for? Upgrade accepts joint applications with a co-borrower, as well as offers rate reductions for setting up autopay, being a homeowner and having it directly pay your creditors on a debt consolidation loan.
Standout benefits: Upgrade accepts applicants with credit scores as low as 580. Borrowers can also secure their loan with collateral, which can help lenders see you as less risky.
We like that Upgrade considers borrowers with fair credit and allows you to apply with a co-borrower, which can improve your odds of approval and receiving favorable rates. The maximum interest rate is on the high side, however.
- Accepts applicants with fair credit
- Approves loans of up to $75,000
- Discount for having creditors paid directly
- Funding in as little as one day
- Accepts co-borrowers
- High maximum interest rate
- Origination fee of up to 9.99%
- No physical branches
Why Upgrade is the best for financial literacy:
- Free credit score simulator to help you visualize how different scenarios and actions may impact your credit
- Charts that track your trends and credit health over time, helping you understand how certain financial choices affect your credit score
- Ability to sign up for free credit monitoring and weekly VantageScore updates
Best for long repayment terms: LightStream
Who's this for? LightStream offers low-interest loans to co-borrowers with repayment terms of 24 to 240 months, or two to 20 years.
Standout benefits: Funds may be available the same day if you are approved by 2:30 p.m. ET.
We like that LightStream offers competitive APRs, no late or origination fees and long loan term options. But you can't prequalify and the loan minimum may be too high if you only need to borrow a small amount.
- Same-day funding available.
- Loan amounts up to $100,000.
- No origination fee or late fee.
- The minimum loan amount is $5,000.
- Prequalification not available.
- No option to pay your creditors directly.
Best for large loans: SoFi
Who's this for? SoFi accepts co-borrowers on joint loan applications. And while many banks cap personal loans at $50,000, SoFi offers financing for up to $100,000.
Standout benefits: SoFi doesn't charge origination fees and if your application is approved by 5:30 p.m. ET, you can be eligible for same-day funding. Deferment and forbearance options are available for eligible borrowers experiencing financial hardship.
We like that SoFi has high loan caps and doesn't charge any origination fee, so borrowers get the full amount funded. The credit requirements can be stringent, however, and interest rates for weaker applicants are on the higher side.
- Loans approved for up to $100,000
- No origination fee or late fee
- Next-day funding available
- Accepts co-borrowers
- Minimum loan amount is $5,000
- High APR for fair/low credit
Fixed rates from 8.74% APR to 35.49% APR. APR reflect the 0.25% autopay interest rate discount and a 0.25% SoFi Plus interest rate discount. SoFi Platform personal loans are made either by SoFi Bank, N.A. or, Cross River Bank, a New Jersey State Chartered Commercial Bank, operating from its Delaware branch, Member FDIC, Equal Housing Lender. SoFi may receive compensation if you take out a loan originated by Cross River Bank. These rate ranges are current as of 02/23/26 and are subject to change without notice. Not all rates and amounts available in all states. See SoFi Personal Loan eligibility details at https://www.sofi.com/eligibility-criteria/#eligibility-personal. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your credit worthiness, income, and other factors.
Best for fast funding: OneMain Financial
Who's this for? If you get your funds sent to a bank-issued debit card, OneMain Financial can make funds available within one hour of your loan closing. Payment by check or ACH transfer may take one or two business days.
Standout benefits: OneMain Financial has more than 1,300 physical branches across 44 states.
We like that OneMain accepts borrowers with bad credit and offers secured loans and fast funding. However, its minimum APR is on the high side and the $30,000 financing maximum may be too low if you need a larger loan.
- Approves applicants with bad/fair credit
- Same-day funding available
- Can apply with collateral
- Co-applicants allowed
- High origination fee
- High minimum interest rate
- No autopay discount
- Co-signers not allowed
*You must complete a loan application and continue to meet any criteria used to select you for a loan offer. Not all applicants are approved. Loan approval and actual loan terms depend on applicant's state of residence and ability to meet OneMain Financial credit standards such as a responsible credit history, sufficient income after monthly expenses, and if applicable, availability of eligible collateral.
Not all approved applicants qualify for larger loan amounts, lower APRs, or the most favorable loan terms. For example, larger loan amounts typically require a first lien on a motor vehicle that is no more than ten years old, meets our value requirements, and is titled in applicant's name with valid insurance. APRs are generally higher on loans not secured by a vehicle.
Example Loan: A $6,000 loan with a 24.99% APR that is repayable in 60 monthly installments would have monthly payments of $176.07.
OneMain charges origination fees allowed by law. Depending on the state where the loan is opened, the origination fee may be either a flat amount or a percentage of the loan amount. Flat fees vary by state, ranging from $25 to $500. Percentage-based fees vary by state, ranging from 1% to 10% of the loan amount subject to certain state limits on the fee amount.
For information about these fees and minimum and maximum loan sizes available in certain states, visit omf.com/loanfees.
Current OneMain Customers: Loan offers presented to a consumer assume the individual has no active loan with OneMain or one of its affiliates. If a customer applies for a new loan offer, a OneMain representative will discuss available options.
Active-duty military, their spouse or dependents covered by the Military Lending Act (MLA) may not pledge any vehicle as collateral. If you are covered by the MLA, you are not eligible for secured loans.Loan proceeds cannot be used for postsecondary educational expenses as defined by the CFPB's Regulation Z such as college, university or vocational expense; for any business or commercial purpose; to purchase cryptocurrency assets, securities, derivatives or other speculative investments; or for gambling or illegal purposes.
Time to Fund Loans: Funding within one hour after loan closing through SpeedFunds® must be disbursed to a bank-issued debit card. Disbursement by check or ACH may take up to 1-2 business days after closing.
Best for debt consolidation: Happy Money
Who's this for? If you use your loan for debt consolidation, Happy Money will send payments directly to your creditors.
Standout benefits: Happy Money approves loans ranging from $5,000 to $50,000, with terms of 24 to 60 months.
Happy Money's Payoff Loan is a solid option if you're looking to consolidate credit card bills. It offers borrowers with fair credit flexible repayment terms and the option to have the lender pay your creditors directly. The $5,000 minimum may be high for your needs, though, and the origination fee can run from 2% to 12%, which is deducted from your loan proceeds.
- Accepts fair credit.
- Lending marketplace makes it easy to check multiple offers.
- Direct pay option with debt consolidation loans.
- High $5,000 loan minimum.
- Origination fee runs 2% to 12%.
- Can only use funds for credit card debt.
- No joint or co-signed applications.
Best for payment flexibility: Happen Bank
Who's this for? Happen Bank lets borrowers have a 15-day grace period before late fees apply and they can make a one-time change to their due date.
Standout benefits: Borrowers can be approved for personal loans of up to $75,000 with funds available in as little as 24 hours.
Formerly LendingClub, Happen Bank offers competitive rates on a wide range of loan amounts, with funds available in as little as 24 hours after final approval.
- Accepts borrowers with fair credit.
- High loan limit of $75,000.
- Funds may be available in as little as 24 hours.
- Repayment terms range from two to seven years.
- Co-borrowers are permitted.
- Doesn't accept co-signers.
- Origination fee of 2% to 6%.
- No autopay discount.
Best for true co-signers: First Tech Federal Credit Union
Who's this for? First Tech Federal Credit Union is one of the few lenders that allows you to apply with a co-signer who helps you qualify without owning any part of the loan proceeds.
Standout benefits: First Tech doesn't charge an origination fee and funds can be available as quickly as the same business day.
We like that secured loans can be approved for up to $500,000 and that borrowers are able to defer their first payment for up to 45 days. It also offers optional loan payment protection, which lets you pause or cancel payments if you face a major life hardship
- No origination fee.
- Co-signers are allowed.
- Funds often available the same day.
- Up to $500,000 available for secured loans.
- Membership only requires joining the Financial Fitness Association, with fee waived.
- Unsecured loans are capped at $50,000.
- Physical branches are limited to a few states.
Co-signer vs. co-borrower: What's the difference?
In everyday lending, co-borrowers are much more common than co-signers: A co-borrower applies for the loan jointly and shares responsibility for the loan from the beginning. They may also have rights to the funds and any assets purchased with them.
A co-signer agrees to be responsible for the debt if the primary borrower does not make payments, but can't access the money or assets.
Not all banks allow applicants to apply with either and lenders may use these terms differently, so check carefully before applying.
How to apply for a personal loan with a co-signer or co-borrower
There are a handful of differences when applying with another person:
- Choose a qualified co-signer or co-borrower. To help your application, the other person should have strong credit and income. Make sure you've discussed the risks involved and understand the impact it could have on your relationship.
- Compare lenders that accept co-signers or co-borrowers. In addition to looking at APRs and terms, make sure a lender approves loans for the amount you need and that you're comfortable with their fee structure. You may also want to ask if there's an option for the co-signer to be released before the loan is paid off in full.
- Get prequalified. Many lenders will allow applicants to pre-qualify to get a rate and term estimate with only a soft credit check. There should be a place to indicate you have a co-borrower or a separate link for them to use. In some cases, you may only be able to add them on your formal application.
- Submit your application. Typically, both borrowers will need to provide their name, address, Social Security number and contact information. You may also both have to submit pay stubs, proof of address and tax records. The lender will likely do a hard pull on both applicants' credit history.
- Get funded and start making payments. If you're approved and accept the terms of the loan, you'll both sign the loan agreement and the money should be deposited into the designated account within a few days. The agreement will specify when the first payment is due, often around 30 days after the loan is funded.
How to shop for a personal loan with a co-signer or co-borrower
Most what you should consider are the same as if you were applying for a loan on your own. The main difference is finding out if a lender accepts a co-signer or co-borrower and if there is a release option. You may also want to ask at what point your co-signer or co-borrower is required to make payment — when the loan is formally in default or after a missed payment?
Beyond that, consider these standard criteria:
- APR
- Loan amount
- Loan term and monthly payment amount
- Total cost of borrowing
- Minimum credit and income requirements
- Origination fees and other upfront charges
- Funding speed
Pros and cons of a co-signer or co-borrower
While either can help borrowers with weak credit, there are drawbacks.
Pros
- Higher chance of approval: A co-signer or co-borrower with sufficient credit and income can help borrowers who don't meet a lender's requirements on their own.
- Potentially lower interest rate: You may be offered better terms than you could qualify for alone.
- Larger loan amount: A lender may consider a co-signer's income and creditworthiness when deciding how much to lend you.
- Can help establish credit: If the loan is reported to the credit bureaus and you make payments on time, it can help improve your credit history.
Cons
- Responsibility for the debt: A lender may be able to go after a co-signer or co-borrower as soon as a payment is missed, without waiting for the loan to officially go into default.
- Impact to their credit: Late or missed payments can appear on the co-applicant's credit report.
- Debt can affect their finances: The loan can raise their debt-to-income ratio, impacting their ability to apply for loans, credit cards and other products.
- Risk to your relationship: Financial problems can create tension between friends or family members.
- You still owe the money: While they may help you get a lower rate, a co-applicant won't reduce the principal or improve your financial situation.
Alternatives to a personal loan with a co-signer
If you're hesitant to ask someone else to put their financial health at risk for you, there are other ways to get financing without good credit.
1. Take out a secured loan with collateral
Some lenders let you secure your loan with an asset, like a car, savings account or even the fixtures in your house. OneMain Financial and Upgrade allow borrowers to use their vehicle as collateral, while First Tech Federal Credit Union provides savings-secured loans starting at $500. Upgrade allows borrowers to use their home fixtures as collateral.
2. Explore specialty lenders
If you want to try to get approved on your own, some lenders look at factors beyond credit history. Avant and Oportun utilizing data beyond traditional credit scores to cater to borrowers with fair or subprime credit. Avant consider applicants with credit scores as low as 550 and Oportun accepts low-income and no-credit borrowers, as well as applicants who have filed for bankruptcy.
This online lender approves borrowers with lower credit and income requirements than many competitors. We also like its speedy approval process and next-day funding, although it won't pay your creditors directly if you have a debt consolidation loan. The APR and origination fee for applicants with weak credit can be high, but the tradeoff may be worth it if you've been unable to get approved elsewhere.
- Lends to applicants with poor credit
- Funding often available next day
- Late-payment grace period of 10 days
- Origination fee of up 9.99%
- No autopay discount
- Doesn't offer direct payment to creditors for debt consolidation loans
- No co-signers or collateral
Open to borrowers with no credit history, especially if needing only a small loan.
- Open to borrowers with no credit history
- No early payoff fee
- Same-day funding available
- Loan amounts as small as $300
- May charge an administrative fee of up to 10% of the principal
- Not available in all states
3. Improve your credit score
The most direct way to get approved for a personal loan is to raise your credit score. On time payments will have the most impact, since payment history accounts for 35% of your credit score, but even asking your credit card company to increase your limit can improve your score.
Keep in mind that it can take 30 to 60 days for your credit report to reflect changes, according to Experian.
FAQs
Does applying for a personal loan with a co-signer hurt their credit?
A lender may perform a hard credit inquiry when evaluating the co-signer, which can lower their score a few points termporarily. If you are approved, the loan is also listed on their credit reports, and can raise their credit utilization rate. Most importatnly, missed payments or a loan default can have a serious negative impact on the co-signer's credit score.
What credit score does a co-signer need to have?
There isn't a universal credit score requirement, but generally, a co-signer with good (670 to 739), very good (740 to 790) or excellent (800 to 850) credit can strengthen your application. A lender will still consider other factors, though, like your income, existing debt and any history of default payments or bankruptcies.
Can you remove a co-signer on a personal loan?
Some lenders will allow a co-signer to be remoevd if the primary borrower has made a suffiicient number of consecutive, on-time payments. It's not automatic or universal, however, so ask a lender before applying.
Should I get a co-signer if I can qualify on my own?
Some lenders won't allow borrowers to apply with a co-signer if they can qualify without one. If a lender lets you, though, compare the offer you get with one you receive with a co-signer—including APR, fees and total cost of borrowing — to decide if adding them is worth the responsibility and risk.
Why trust CNBC Select?
At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice to help them make informed financial decisions. Every personal loan list is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of loan products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.
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Our methodology
CNBC Select analyzed offerings from more than two dozen banks, credit unions and online lenders that allow borrowers to apply with co-signers or co-borrowers.
To narrow our list, we focused on the following features:
- APR: We considered the interest rate and overall cost of borrowing for each lender.
- Fees: We considered whether a lender charged an origination or application fee, late fees or returned-payment fees. None of the lenders on this list charge a prepayment penalty.
- Repayment terms: We gave more weight to lenders with a variety of repayment terms.
- Loan amounts: We considered the minimum and maximum loan amounts borrowers could borrow from each lender we reviewed.
- Eligibility requirements: When possible, we considered the credit score and debt-to-income ratio needed for loan approval. We also considered whether co-signers or collateral are allowed.
- Funding: We prioritized lenders who made funding available the same or next business day. For debt consolidation loans, we also considered whether lenders paid creditors directly
- Discounts: We considered whether lenders had rate reductions for autopay, existing customers or for other categories.
- Rate and terms transparency: We considered whether rates, fees, eligibility requirements, and loan terms are clearly disclosed on the lender's website.
- Customer experience: We weighted lenders with evening and weekend customer service hours more heavily, as well as those with robust, easy-to-navigate mobile and web interfaces.
- Reputation: We reviewed lenders' Better Business Bureau ratings and third-party reviews from sites like TrustPilot. We also considered any lawsuits or regulatory actions
- Availability: We gave more weight to lenders that operate in all or most U.S. states.
We also considered CNBC Select audience data when available, such as general demographics and engagement with our content and tools.
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*Your LightStream loan terms, including APR, may differ based on loan purpose, amount, term length, and your credit profile. Excellent credit is required to qualify for lowest rates. Rate is quoted with AutoPay discount. AutoPay discount is only available prior to loan funding. Rates without AutoPay are 0.50% points higher. Subject to credit approval. Conditions and limitations apply. Advertised rates and terms are subject to change without notice. Payment example: Monthly payments for a $10,000 loan at 7.99% APR with a term of three years would result in 36 monthly payments of $313.32.
Fixed rates from 8.74% APR to 35.49% APR. APR reflect the 0.25% autopay interest rate discount and a 0.25% SoFi Plus interest rate discount. SoFi Platform personal loans are made either by SoFi Bank, N.A. or, Cross River Bank, a New Jersey State Chartered Commercial Bank, operating from its Delaware branch, Member FDIC, Equal Housing Lender. SoFi may receive compensation if you take out a loan originated by Cross River Bank. These rate ranges are current as of 02/23/26 and are subject to change without notice. Not all rates and amounts are available in all states. See SoFi Personal Loan eligibility details at https://www.sofi.com/eligibility-criteria/#eligibility-personal. Not all applicants qualify for the lowest rate. Lowest rates reserved for the most creditworthy borrowers. Your actual rate will be within the range of rates listed above and will depend on a variety of factors, including evaluation of your creditworthiness, income, and other factors.
