The cosigner is also sometimes be called a guarantor. A guaranty is a contract under which one person (guarantor) agrees to pay a debt or perform a duty if the other person who is bound to pay the debt or perform the duty fails to do so. Usually, the party receiving the guaranty will first try to collect or obtain performance from the debtor before trying to collect from the one making the guaranty (guarantor).
Co Signer Companies For Apartments With Bad Credit
Category:
State:
North Carolina
Control #:
NC-831-11
Format:
Word;
Rich Text
Instant download
Description
This is a Landlord Tenant Lease Co-Signor Agreement for use by a landlord in contracting with a cosignor on a lease to be liable for rent, damage, etc., if the tenant fails to pay. Cosignor is thereby liable to landlord for payment of rent should tenant not fulfill his/her contractual obligation.
How to fill out North Carolina Landlord Tenant Lease Co-Signer Agreement?
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FAQ
To be a cosigner, your friend or family member must meet certain requirements. Although there might not be a required credit score, a cosigner typically will need credit in the very good or exceptional range?670 or better.
While each lender has its own credit requirements, most expect a cosigner to have good credit with at least a 670 credit score.
A cosigner can be a person who lives in the apartment, such as a roommate or partner, but they can also live elsewhere and simply step up financially if you fall short. A cosigner will need to meet a few general qualifications, including: A good credit score, usually a score of 720 or above.
While each lender has its own credit requirements, most expect a cosigner to have good credit with at least a 670 credit score.
Once they have found a co-signer, treat them as an additional tenant and have them fill out an online rental application, and run a screening report to ensure they are financially fit to be a co-signer.
