Our picks for the best co-signed and joint loans are from Upgrade, OneMain Financial, Achieve, Credit Direct and Truist.
Jump to insightYou’ll typically use a co-signer if you have poor or no credit and a co-borrower if you want to share ownership of an asset.
Jump to insightA co-signer will be on the hook for repayment if the original borrower defaults.
Jump to insightOur picks for the best co-signed and joint loans
Our picks may be Authorized Partners that compensate us. This doesn’t affect our recommendations or evaluations, but it may affect the order in which the companies appear.
Methodology
To make our choices for the best personal loans that allow co-signers or co-borrowers, we collected 806 data points from popular lenders, including 26 individual data points for 31 lenders.
We also evaluated customer reviews and overall ratings from ConsumerAffairs reviewers. We then used these data points to evaluate factors that impact borrowers the most, such as credit score requirements, loan amounts, term lengths and annual percentage rates (APRs), to help us make our final selections.
Compare our top picks
- Loan amounts
- $1,000 to $50,000
- Term lengths
- 2 to 7 years
- Minimum credit score
- Not disclosed
Partner Disclosures
OneMain Financial disclosures
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.
Achieve Personal Loans disclosures
Personal loans available through Achieve.com (NMLS #138464) or Achieve Personal Loans (NMLS ID #227977) are made by Cross River Bank, a New Jersey State Chartered Commercial Bank, or Pathward®, N.A., Equal Housing Lenders. Loan applications are subject to credit review, underwriting criteria and approval. Loans are not available in all states and available loan terms/fees may vary by state. Loan amounts range from $5,000 to $50,000. APRs range from 8.99 to 35.99% and include applicable origination fees that vary from 1.99% to 6.99%. The origination fee is deducted from the loan proceeds. Repayment periods range from 24 to 60 months. Example loan: four-year $20,000 loan with an origination fee of 6.99%, a rate of 15.49%, and corresponding APR of 19.54%, would have an estimated monthly payment of $561.60 and a total cost of $26,956.80. To qualify for a 8.99% APR loan, a borrower will need excellent credit, a loan amount less than $12,000.00, and a term of 24 months. Adding a co-borrower with sufficient income; using at least eighty-five percent (85%) of the loan proceeds to pay off qualifying existing debt directly; or showing proof of sufficient retirement savings, could also help you qualify for lower rates. Funding time periods are estimates and can vary for each loan request. Same day decisions assume a completed application with all required supporting documentation submitted early enough on a day that our offices are open. Achieve Personal Loans loan consultants' hours are Monday-Friday 6am-8pm AZ time, and Saturday-Sunday 7am-4pm AZ time.
Upgrade disclosures
Your loan terms are not guaranteed and are subject to our verification and review process. You may be asked to provide additional documents to enable us to verify your income and your identity. To be offered the lowest rates, you may be required to have some of your funds sent directly to pay off existing debt(s). This rate shown includes an Autopay APR reduction of 0.5%. Autopay enrollment is optional and by enrolling, your payments will be automatically deducted from your bank account. The APR includes the yearly interest rate and a loan origination fee, which is deducted from the loan proceeds. Late payments and other fees may increase the cost of your fixed rate loan. Please refer to Upgrade's Terms of Use and Borrower Agreement for terms, conditions and requirements. Upgrade is a financial technology company, not a bank. Personal loans are issued by Upgrade's bank partners: https://www.upgrade.com/bank-partners/. † After acceptance, your funds will be sent within one (1) business day of clearing necessary verifications. Funds availability is dependent upon your bank’s transaction processing time and may take up to 2 weeks if sent directly to third party creditors.
- Loan amounts
- $1,500 to $30,000
- Term lengths
- 2 to 5 years
- Minimum credit score
- None
Partner Disclosures
OneMain Financial disclosures
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.
Achieve Personal Loans disclosures
Personal loans available through Achieve.com (NMLS #138464) or Achieve Personal Loans (NMLS ID #227977) are made by Cross River Bank, a New Jersey State Chartered Commercial Bank, or Pathward®, N.A., Equal Housing Lenders. Loan applications are subject to credit review, underwriting criteria and approval. Loans are not available in all states and available loan terms/fees may vary by state. Loan amounts range from $5,000 to $50,000. APRs range from 8.99 to 35.99% and include applicable origination fees that vary from 1.99% to 6.99%. The origination fee is deducted from the loan proceeds. Repayment periods range from 24 to 60 months. Example loan: four-year $20,000 loan with an origination fee of 6.99%, a rate of 15.49%, and corresponding APR of 19.54%, would have an estimated monthly payment of $561.60 and a total cost of $26,956.80. To qualify for a 8.99% APR loan, a borrower will need excellent credit, a loan amount less than $12,000.00, and a term of 24 months. Adding a co-borrower with sufficient income; using at least eighty-five percent (85%) of the loan proceeds to pay off qualifying existing debt directly; or showing proof of sufficient retirement savings, could also help you qualify for lower rates. Funding time periods are estimates and can vary for each loan request. Same day decisions assume a completed application with all required supporting documentation submitted early enough on a day that our offices are open. Achieve Personal Loans loan consultants' hours are Monday-Friday 6am-8pm AZ time, and Saturday-Sunday 7am-4pm AZ time.
Upgrade disclosures
Your loan terms are not guaranteed and are subject to our verification and review process. You may be asked to provide additional documents to enable us to verify your income and your identity. To be offered the lowest rates, you may be required to have some of your funds sent directly to pay off existing debt(s). This rate shown includes an Autopay APR reduction of 0.5%. Autopay enrollment is optional and by enrolling, your payments will be automatically deducted from your bank account. The APR includes the yearly interest rate and a loan origination fee, which is deducted from the loan proceeds. Late payments and other fees may increase the cost of your fixed rate loan. Please refer to Upgrade's Terms of Use and Borrower Agreement for terms, conditions and requirements. Upgrade is a financial technology company, not a bank. Personal loans are issued by Upgrade's bank partners: https://www.upgrade.com/bank-partners/. † After acceptance, your funds will be sent within one (1) business day of clearing necessary verifications. Funds availability is dependent upon your bank’s transaction processing time and may take up to 2 weeks if sent directly to third party creditors.
- Loan amounts
- $5,000 to $50,000
- Term lengths
- 2 to 5 years
- Minimum credit score
- 600 to 660
Partner Disclosures
OneMain Financial disclosures
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.
Achieve Personal Loans disclosures
Personal loans available through Achieve.com (NMLS #138464) or Achieve Personal Loans (NMLS ID #227977) are made by Cross River Bank, a New Jersey State Chartered Commercial Bank, or Pathward®, N.A., Equal Housing Lenders. Loan applications are subject to credit review, underwriting criteria and approval. Loans are not available in all states and available loan terms/fees may vary by state. Loan amounts range from $5,000 to $50,000. APRs range from 8.99 to 35.99% and include applicable origination fees that vary from 1.99% to 6.99%. The origination fee is deducted from the loan proceeds. Repayment periods range from 24 to 60 months. Example loan: four-year $20,000 loan with an origination fee of 6.99%, a rate of 15.49%, and corresponding APR of 19.54%, would have an estimated monthly payment of $561.60 and a total cost of $26,956.80. To qualify for a 8.99% APR loan, a borrower will need excellent credit, a loan amount less than $12,000.00, and a term of 24 months. Adding a co-borrower with sufficient income; using at least eighty-five percent (85%) of the loan proceeds to pay off qualifying existing debt directly; or showing proof of sufficient retirement savings, could also help you qualify for lower rates. Funding time periods are estimates and can vary for each loan request. Same day decisions assume a completed application with all required supporting documentation submitted early enough on a day that our offices are open. Achieve Personal Loans loan consultants' hours are Monday-Friday 6am-8pm AZ time, and Saturday-Sunday 7am-4pm AZ time.
Upgrade disclosures
Your loan terms are not guaranteed and are subject to our verification and review process. You may be asked to provide additional documents to enable us to verify your income and your identity. To be offered the lowest rates, you may be required to have some of your funds sent directly to pay off existing debt(s). This rate shown includes an Autopay APR reduction of 0.5%. Autopay enrollment is optional and by enrolling, your payments will be automatically deducted from your bank account. The APR includes the yearly interest rate and a loan origination fee, which is deducted from the loan proceeds. Late payments and other fees may increase the cost of your fixed rate loan. Please refer to Upgrade's Terms of Use and Borrower Agreement for terms, conditions and requirements. Upgrade is a financial technology company, not a bank. Personal loans are issued by Upgrade's bank partners: https://www.upgrade.com/bank-partners/. † After acceptance, your funds will be sent within one (1) business day of clearing necessary verifications. Funds availability is dependent upon your bank’s transaction processing time and may take up to 2 weeks if sent directly to third party creditors.
- Loan amounts
- $1,000 to $40,000
- Term lengths
- 1 to 5 years
- Minimum credit score
- None
- Loan amounts
- $5,000 to $100,000
- Term lengths
- 2 to 20 years
- Minimum credit score
- 670 to 700
When to use a co-signer vs. co-borrower
Co-signers and co-borrowers are both types of co-applicants, but when you’ll use each one will vary.
When to use a co-signer
Applying with a co-signer makes the most sense when you can’t qualify for funding on your own or if you want to qualify for better rates and terms. For example, you might use a co-signer if:
- You have bad credit and can’t qualify for a loan
- You have fair credit and want to qualify for better terms
- You don’t have a credit history and need to take out a loan, such as an auto loan or student loan
When to use a co-borrower
You’ll generally apply for a loan with a co-borrower when you want to share an asset and repayment. For instance, you might use a co-borrower if you want to buy a home with a partner or spouse.
Pros and cons of personal loans with a co-signer
Compare the pros and cons of applying for a personal loan with a co-signer:
Pros
- Increased chance of approval with poor or no credit
- May help you qualify for better rates and terms
- Can help you build credit if paid on time
- Expands borrowing options
Cons
- Co-signer is responsible for repayment if you default
- Missed payments can harm you and the co-signer's credit
- Can affect co-signer's debt-to-income (DTI) ratio
Pros and cons of personal loans with a co-borrower
Compare the pros and cons of applying for a personal loan with a co-borrower:
Pros
- Combined buying power
- Better chance of loan approval
- Shared ownership of an asset
- Shared responsibility for a loan
Cons
- Missed payments can affect both borrowers’ credit
- A co-borrower with worse credit can affect shared loan terms
How to get a personal loan with a co-applicant
Applying for a personal loan with a co-applicant is a lot like applying on your own. Most online lenders make it possible to apply for an unsecured personal loan entirely online, and many let you check your rate with no impact on your credit. This makes it easier to shop around and compare rates and loan terms across multiple lenders.
Once you find a lender with a loan that makes sense for your needs and goals, you can apply for it with your personal information and a co-applicant’s personal information. You should plan on submitting details like both of your full names and addresses, Social Security numbers, employment and income information and monthly mortgage or rent amount. You may also need to supply pay stubs, W-2s or tax returns.
Should you apply for a loan with a co-signer?
A co-signer can be beneficial when you have a low credit score that might prevent you from securing a loan on your own. Having a co-signer with a strong financial background can help you qualify for loans with better terms, such as lower interest rates. Additionally, using a co-signer can be a strategic move for building or improving your credit score, as long as you make timely payments on the loan.
While there are many benefits of using a co-signer for your personal loan, it can be a risky move for the co-signer. William Bevins, a financial advisor in Tennessee, said that both the main borrower and the co-signer should think over the responsibility involved in applying for a personal loan.
"If the payments stop being made, the co-signer ultimately bears the responsibility," Bevins said.
Bevins also said that using a friend or family member as a co-signer can interfere with an important relationship if repayment becomes an issue.
"Entering a financial contract such as this has the potential of ruining close relationships," Bevins said. "It might be advantageous to think of the long-term fallout if things go badly."
» COMPARE: Best personal loan companies
FAQ
Is it easier to get a personal loan with a co-applicant?
Applying for a loan with a co-signer or a co-borrower lessens risk for the lender. As a result, many applicants find that it’s easier to qualify for a personal loan and get better rates and terms with a co-applicant.
How do you find a co-signer?
To find a co-signer, start by looking among close family members or friends who are familiar with your financial situation and have a strong credit history. It's important to have an open and honest conversation about the responsibilities involved in co-signing a loan, ensuring they fully understand the commitment and potential risks. Keep in mind that a co-signer typically needs to be over 18 years old and a U.S. citizen. They should also have a stable income and a good DTI ratio.
Will a co-signer help me get a better interest rate?
Applying for a loan with a co-signer who has good credit and a strong income can help you qualify for a personal loan with a better rate. If you're curious whether you need a co-signer or you want to see if you can qualify without one, look for lenders that let you check your rate without a hard inquiry on your credit report.
Can you be denied a loan with a co-signer?
You can be denied a loan with a co-signer, just as you can be denied a loan if you apply on your own or with a co-borrower. Ultimately, loan approval hinges on factors like your income, credit score and debt-to-income ratio.
Bottom line
You can apply for most loans with co-signers or co-borrowers. Generally, you’ll use a co-signer if you can’t qualify for a loan on your own, while you’ll use a co-borrower if you want to share ownership of an asset, like a house or a car. Whichever option you choose, compare lenders based on loan amounts, terms, APRs and more to find the right lender and loan for you.
Article sources
ConsumerAffairs writers primarily rely on government data, industry experts and original research from other reputable publications to inform their work. Specific sources for this article include:
- Federal Trade Commission, "Cosigning a Loan FAQs." Accessed Feb. 26, 2026.
