Best Personal Loans With a Cosigner in 2026
Getting help to qualify? See our expert picks for the best loans with cosigners or co-borrowers
| Lender | User rating | APR | Term | Amount | |
|---|---|---|---|---|---|
|
6.99% – 18.00% | 6 to 84 months |
$500 – $50k |
||
|
8.99% – 24.25% (with autopay) | 36 to 60 months |
$5k – $45k |
||
|
6.74% – 17.99% (with autopay) | 12 to 60 months |
$600 – $50k |
||
|
8.99% – 35.99% | 24 to 60 months |
$2k – $50k |
||
|
8.74% – 35.49% (with discounts) | 24 to 84 months |
$5k – $100k |
||
|
7.74% – 35.99% (with discounts) | 24 to 84 months |
$1k – $50k |
Read more about how we made our picks for the best personal loans with a cosigner.
Cosigner and co-borrower loans at a glance
Best for: Short-term, small co-borrower loans – First Tech Federal Credit Union
- APR
- 6.99% – 18.00%
- Save money on interest by borrowing as little as $500 (most loans start at $1,000+)
- Terms start at 6 months (most loans start at 24 months)
- Low interest rates
- No fees
- Need to become a member to get a loan (but it’s easy to join)
- Might qualify with rocky credit, but minimum credit score isn’t specified
If you need to borrow a small amount of money but don’t want to pay high credit card rates, check your rates with First Tech. First Tech offers some of the shortest and smallest loans on the personal loan market. The less you borrow and the sooner you pay it back, the less money you’ll pay in interest and the cheaper your loan will be.
The only way to know if you’ll qualify for a First Tech loan is to check your rates, since First Tech doesn’t share what credit score, income or other requirements you’ll need to get a loan. You also have to become a member of First Tech Federal Credit Union, but First Tech makes it easy — you can apply for membership at the same time you apply for your loan.
You must meet at least one of the following criteria to join First Tech:
- Employment: Work for a partnering employer
- Family: Be related to a current First Tech Federal Credit Union member
- Residency: Reside in Lane County, Ore.
- Membership: Become a member of the Computer History Museum or Financial Fitness Association (First Tech Federal Credit Union may pay for your first year of membership, and you don’t have to maintain membership to keep your First Tech Federal Credit Union account)
Best for: Cosigner loans with no origination fee – Laurel Road
- APR (with autopay)
- 8.99% – 24.25%
- Allows cosigners (as opposed to the more common co-borrowers)
- No origination fees
- Low rates
- 0.25% autopay discount
- Likely need good or excellent credit to qualify
- Need to do more paperwork if you’re borrowing more than $35,000
- Can’t borrow as much as you can with some other lenders
Laurel Road is one of the few major lenders that allows cosigners instead of co-borrowers for personal loans. The difference? Cosigners don’t have the right to the loan money like co-borrowers do, but they’re still responsible for paying the loan back if the main borrower stops making payments.
Laurel Road loans also come with terms that keep loan costs down. There are no origination fees, competitive interest rates and even a discount for signing up for autopay.
But you’ll have to fill out more paperwork if you need to borrow more than $35,000. Plus, Laurel Road only offers loans up to $45,000 if you’re using the money for debt consolidation, home improvement or a major purchase. Other loans are capped at $35,000.
Laurel Road doesn’t provide much insight into how it evaluates personal loan applications, but you must be at least the age of majority in your state (typically 18 or 19).
While Laurel Road doesn’t specify a minimum credit score, it does state that it’s able to offer low rates because it works with creditworthy borrowers. The lender may assess this creditworthiness by evaluating your debt-to-income ratio, employment, income and credit history.
Best for: Cosigner loans with lots of membership benefits – PenFed Credit Union
- APR (with autopay)
- 6.74% – 17.99%
- Credit union membership comes with plenty of discounts and perks
- Loans start at $600 (most start at $1,000+)
- Get money as soon as the next day
- Need to become a member to get a loan (but membership is open to everyone)
- Only allows co-borrowers, not cosigners
Credit union membership usually comes with discounts and perks, and PenFed is no exception. After you join, you can gain access to exclusive savings on rental cars, tax preparation software, homeowners/car insurance and more. PenFed members also get free FICO Scores and monthly credit reports from Experian.
But like First Tech, PenFed requires that you become a member to get a loan. It’s easy to become a member, since PenFed allows you to apply for a loan and membership at the same time.
To qualify for a PenFed loan, you must meet the following requirements:
- Membership: PenFed membership (anyone can join)
- Administrative: Open a PenFed savings account with a $5 deposit; may need to submit documents to verify your identity and income
Best for: Better approval odds with peer-to-peer co-borrower loans – Prosper
- APR
- 8.99% – 35.99%
- Peer-to-peer loans can be easier to get
- Fair credit OK
- Available even if you have little or no credit history
- Charges high rates for fair credit
- Keeps between 1.00% – 9.99% on every loan as an origination fee
- Loan review process can take five days
- Only allows co-borrowers, not cosigners
Prosper offers peer-to-peer loans, which can be easier to get because individuals, rather than banks or lenders, fund them. If you’re looking for a way to boost your odds of approval, applying for a peer-to-peer loan with a co-borrower is a smart strategy.
If you’re looking for a quick loan, choose another lender on this list. Prosper’s review process can take five days, which is longer than most lenders take.
To get a loan with Prosper, you must meet the following requirements:
- Age: Be 18 or older
- Administrative: Have a U.S. bank account and Social Security number
- Residency: Not live in Iowa, North Dakota or West Virginia
- Credit score: 560+
Best for: Big online loans with a co-borrower – SoFi
- APR (with discounts)
- 8.74% – 35.49%
- Borrow up to $100,000 (other lenders only offer up to $50,000)
- 0.25% autopay discount
- No required fees
- Won’t qualify with bad credit
- Charges high maximum interest rates
- Only allows co-borrowers, not cosigners
SoFi loans are a great option if you want to apply with a co-borrower for a large amount of money. You can borrow up to $100,000, and with no required fees and a discount for using autopay, you could save a lot of money on a large loan.
Keep in mind that applying with a co-borrower can add a week or two to the loan approval process. And if you’re looking for a small loan, consider another lender — SoFi loans start at $5,000.
You must meet the requirements below to get a loan from SoFi:
- Age: Be the age of majority in your state (typically 18)
- Citizenship: Be a U.S. citizen, an eligible permanent resident or a non-permanent resident (a recipient of the Deferred Action for Childhood Arrivals — DACA — program or an asylum-seeker, for instance)
- Employment: Have a job or job offer with a start date within 90 days, or have regular income from another source
- Credit score: 620+
Best for: Getting multiple discounts on co-borrower loans – Upgrade
- APR (with discounts)
- 7.74% – 35.99%
- Offers four possible discounts
- Allows fair credit
- Get money as soon as one business day
- Charges an upfront fee of 1.85% – 9.99% on every loan
- High rates for borrowers with fair credit
- Only allows co-borrowers, not cosigners
If you’re applying with a co-borrower to save money with lower rates, see if you can save even more with one of Upgrade’s discounts. You can get a discounted rate by signing up for autopay, putting up your car as collateral or using the money to consolidate debt. Eligible homeowners can also save by using their built-in fixtures as collateral, such as cabinetry and ceiling fans.
Unlike some of the lenders on this list, Upgrade charges an upfront origination fee on every loan. Upgrade will keep this fee before sending you your loan money.
To qualify for a loan through Upgrade, you must meet the requirements below:
- Age: Be at least 18 years old (19 in some states)
- Citizenship: Be a U.S. citizen, permanent resident or live in the U.S. with a valid visa
- Administrative: Have a valid bank account and email address
- Credit score: 580+
What is a cosigner?
A cosigner is a second person who signs a loan agreement. This person has equal legal responsibility for repaying the loan. They can be a friend, family member or another trusted person.
Lenders take on less risk when two people are responsible for repayment, so getting a personal loan with a cosigner can make it much easier to qualify. This is especially true if the cosigner has good or excellent credit.
If the original borrower can’t pay back the loan, the lender can collect payment from the cosigner.
Cosigner vs. co-borrower
The terms cosigner and co-borrower are sometimes used interchangeably, but there are important legal differences.
Co-borrowers have the right to access the borrowed money, while cosigners don’t. But cosigners and co-borrowers are both responsible for payments, which means that missed payments will put their credit at risk.
Cosigners
- Responsible for payments
- Credit affected by late or missed payments
- Can’t access the borrowed money
- Less common for personal loans
Example: Parent cosigners don’t have the right to access student loan money marked for their child’s school expenses.
Co-borrowers or co-applicants
- Responsible for payments
- Credit affected by late or missed payments
- Can access borrowed money
- More common for personal loans
Example: If you and your spouse take out a home improvement loan to pay for a kitchen remodel, you can both legally access the funds at any time.
Most lenders only offer one option or the other, if they allow co-applications at all. The best way to know which option is better for you is to prequalify for a joint or cosigned loan with several lenders and choose the offer with the lowest rates and best terms for you.
What to know about using a cosigner
Applying for a personal loan with a cosigner comes with additional hoops to jump through. Here’s what you need to know.
-
Cosigner qualifications
Most lenders require that both applicants meet their minimum eligibility requirements. Lenders will consider factors like income, credit score and credit history. Some lenders may even require that co-applicants live at the same address. -
Application timeline
Using a cosigner or co-borrower may add extra time to the personal loan application process, since the lender will be evaluating two applicants instead of just one. -
Cosigner release
Lenders may allow you to release your cosigner from your loan contract after a certain period of time and a history of on-time payments. If your lender doesn’t offer cosigner release, consider refinancing your loan instead.
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Risks of using a cosigner
Before you decide to cosign a personal loan, it’s important to know about the downsides. Here’s what you need to know about the risks of using a co-applicant on a loan:
Damage to credit
Each applicant is legally responsible for the loan, so missing payments or going into default will hurt the credit of both parties.
Legal consequences
If you stop making payments, your debt will eventually go to collections and one or both of you could be sued by a debt collector.
Hard credit pull
Lenders typically run a hard credit inquiry when you apply for a loan. This can cause a small, temporary dip in the credit scores of both the original borrower and the cosigner.
Harder to qualify for future loans or credit
Cosigning a loan can increase your debt-to-income ratio, which may make it difficult to take out more credit until the cosigned loan is paid off.
Strained relationship
If you have trouble repaying a loan, financial repercussions may not be the only fallout. Your relationship with your cosigner could suffer as well.
How we chose the best personal loans with a cosigner
We reviewed more than 30 lenders to determine the best six personal loans with a cosigner or co-borrower. To make our list, lenders must offer cosigner or co-borrower loans with competitive annual percentage rates (APRs).
From there, we assessed each lender across four categories: eligibility and access; cost to borrow; loan terms and options; repayment support and tools.
According to our standardized rating system, the best cosigner loans come from First Tech Federal Credit Union, Laurel Road, PenFed Credit Union, Prosper, SoFi and Upgrade.
Our categories
We assess how easy it is for people to qualify and apply. This includes state availability, soft-credit prequalification, membership requirements, funding speed and whether borrowers with less-than-excellent credit can get a loan.
We evaluate how affordable the loans are based on minimum and maximum APRs, loan fees and rate discounts. Lenders with unclear or potentially predatory costs receive lower scores.
We consider repayment term flexibility, loan amount ranges and whether options like secured loans, joint loans or direct-to-creditor payments are offered — plus whether the lender clearly communicates these options.
We evaluate borrower experience after funding: customer service access, hardship or forbearance programs, payment flexibility and digital tools like mobile apps or credit monitoring.
Our process
We gather data directly from lenders through their websites, disclosures and direct communication with company representatives. Our editorial team verifies and updates information regularly. We value transparency and award less favorable scores when lenders obscure or omit details.
Our editorial team applies the same scoring model and standards to every lender. Lenders cannot pay to influence our ratings.
Why trust our methodology
Our writers and editors dig through the facts, contact lenders directly and even go through the application process ourselves if it helps better explain what you can expect. As a Certified Financial Education Instructor℠, I’m committed to breaking down complex financial details so people can make confident, informed decisions with their money.
Jessica’s experience in editing and financial education helps shape LendingTree articles that are clear, accurate and truly useful to readers. Her certification means our recommendations are built on a foundation of consumer-first financial knowledge — not just numbers.
Frequently asked questions
Cosigners can help you get lower rates, more money and better odds of approval — but only if your cosigner has good or excellent credit.
Yes, adding a cosigner increases your odds of approval. Cosigners lower the lender’s risk, since two people are accountable for repayment instead of just one. If your cosigner has good credit and a reliable credit history, this can make it even easier to qualify for a loan.
The credit score you need for a personal loan depends on the lender, but aim to have a cosigner with a credit score of 670 or higher. This can make it easier not only to get approved for a personal loan but also to get better offers that can save you money.
Consider getting a personal loan with a cosigner if you want:
- Better approval odds
- A large loan
- Lower interest rates
Note that your cosigner will need good or excellent credit to help you achieve these goals.
Missing payments will damage both your credit score and your cosigner’s. If neither of you make payments, your lender will eventually send your loan to a collection agency.
Consider debt relief options if you’re struggling to make payments.