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Mollyd10

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Chances of approval odds with a co signer
I haveperfect ontime payments and a great paying position that I have been at for 4 years. I am wanted to apply for a $60,000 personal loan for a project. My parents have offered to co signing, there score is into the 800's. What do you think my approval odds are?

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VERY SLIM

Unsecured personal loans are usually given for much smaller amounts, a $60,000 personal loan is a VERY BIG loan. Even with your parents in the 800's, the lender is going to want collateral.

If your project involves a business, get a business loan instead (still difficult).

Another option if your parents have the equity on their house (assuming they own), it would be fairly easy for them to get HELOC. They could borrow the $60,000 against the equity they have in their house and loan it to you. So they're not out of pocket any interest, you should pick up the monthly payments.

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