Best Personal Loans With a Cosigner For 2022

Personal Loans with cosigners can be a great option for those whose credit scores are not strong enough to access a loan.

Cosigners act as a guarantor to the principal borrower and are responsible for paying off the loan in case the principal borrower fails to meet up the loan terms.

Many lenders allow cosigners, however, the best personal loans with a cosigner are those with low origination fees, low-interest rates, and give borrowers access to large sums of money.   

While it is often not in fashion for the top personal loan providers to allow borrowers the option of applying with a cosigner, there are still, a few that grants that opportunity with higher chances of approving the

In this article, we will be listing out the best Personal Loans with cosigners.

Top 8 Personal Loans that Allows a Cosigner

Some of the best personal loans with a cosigner you should consider in 2022 are:

#1. TD Banks 

Best for all-round performance 

When it comes to competitive APRs and low origination fees, TD Bank
is the best option for those looking for a personal loan with a cosigner. TD
Bank also ensures fast processing/approval and quick disbursement of funds.  

Key Features of TD Bank Personal Loan  

  • TD Bank APRs range from 6.99% to 21.99%  
  • For borrowers who hold a TD checking or savings account, a credit score of 660 is required. Conversely, for those without an existing account, a credit score of 750 is required.  
  • The loan size range from $2,000 to $50,000. 
  • An origination fee of 0% is required for TD Bank personal loan.  
  • TD Bank loan terms range from 12 to 60 months.  
  • Approval time and funding are typically from 2 to 6 working days. 

You can read this: 15 Ways To Get A Loan With A Bad Credit

#2. Wells Fargo 

Best for sizeable loans amount

If you are looking for a large amount of money as a loan, Wells Fargo is one place to go to that guarantees you that request. People with cosigners can access up to $100,000 in loan amounts.

There are only a few lenders that can offer such an amount as their maximum loan amount. What is even better is the fact that Wells Fargo does not have an origination fee.

Wells Fargo also offers competitive rates and fast disbursement of funds. 

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Key Features of Wells Fargo Personal Loan  

  • Well Fargo APRs range from 5.99% to 19.99%  
  • The minimum credit score required for Wells Fargo is 660 
  • The loan amount for Wells Fargo ranges from $3,000 to $10,000  
  • An origination fee of 0% is required for loan application 
  • The loan terms range from 12 to 84 months  
  • Funds approval and fund disbursement can take up to 4 working days 

#3. Upgrade

Best for loan applicants without SSN 

Upgrade has one of the best personal loans with a cosigner because it does not require you to have an SSN to apply for a loan. Applicants can use either their passport or other government-issued ID cards to apply for a loan.

In addition to quick disbursement of funds, Upgrade allows you up to 60 months to repay the loan amount. Upgrade loans allow borrowers to select a plan that best suits their financial plan and timeline.

They also offer fixed rates so the borrower knows what to always expect. The application process is done online and pre-approval takes only a few minutes.

Your credit score does not have an impact on your loan rates when you apply for a loan with Upgrade. 

Key Features of Upgrade Personal Loan  

  • Upgrade APRs ranges from 5.94% to 35.97% 
  • Loan applicants are required to have a credit score of at least 620 to qualify 
  • Loan amount starts from as little as $1,000 to a maximum amount of $35,000 
  • The origination fee for an Upgrade personal loan starts from 2.9% to 8% 
  • Upgrade personal loan terms range from 36 to 60 months  
  • Approval and fund disbursement can take as little as 2 to 6 working days 

#4. LightStream

Best for quick fund disbursement and loan variety

Whether you need funds for debt consolidation or funds to take care of medical expenses, LightStream personal loans remain the most reliable for loan variety.

LightStream is also among the lenders that offer the highest maximum personal loan amount.

When you apply for a loan, you can get your approved funds disbursed as early
as the next business day. In most states, you will not have to pay any origination fees for your loan application.  

Note that: there are some restrictions to how you use personal loans obtained from LightStream. They include the purchase of stock options, to carter for educational expenses, for the repayment of an existing LightStream loan, and retirement contribution.

Key Features of LightStream Personal Loan  

  • LightStream APRs starts from 2.99% to 19.99%. When you activate autopay, you enjoy a discount of 0.50% 
  • A minimum credit score of 660 and above is required for borrowers to qualify for a loan 
  • The minimum loan amount for LightStream personal loans is $5,000 while the maximum loan amount is $100,000  
  • There are no origination fees and late penalty fees for LightStream. However, residents of Florida are subject to a stamp duty of 0.35%  
  • Also, the loan terms start from 24 to 144 months   
  • Typically, LightStream funds are disbursed the next business day, However, same-day funding is possible for those whose loan application is approved early enough (before 2:30 p.m. ET)  

#5. First Tech Credit Union

Best for its minimum loan offer

First Tech Credit Union stands out when it comes to small personal loans. The company was founded in 1952 and provides those with fair or poor credit scores the opportunity to access small loans at good rates with only minimal fees applicable.

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First Tech Loan rates start as low as 6.70% for people with low credit scores.  

Except for those that reside in Lane County, Oregon, other loan applicants need to meet certain membership criteria to be eligible. They include:  

  • Applicant must be an employee of one of First Tech’s partner companies 
  • Applicants must belong to either the Financial Fitness Association or Computer History Museum  

Nevertheless, these affiliated memberships are open to anybody, which makes First Tech Credit Union the best for those looking for small loans.   

Key Features of First Tech Credit Union Personal Loan

  • First Tech APRs range from 6.70% to 18.00%  
  • Borrowers need a credit score of 580 to qualify for a loan 
  • The minimum loan amount starts as low as $500. Borrowers can apply for as much as $50,000 
  • Borrowers are not required to pay an origination fee or prepayment penalties. However, First Tech will charge a penalty on late loan repayment (fees may vary) 
  • The first loan will ascertain your creditworthiness before approving your loan application 
  • First Tech Credit Union offers flexible loan terms, which are 24, 36, 48, 60, 72, 84 months 

Also, you can check this: Elfi vs Sofi 2022: Best Loan Refinancing Lender | Full Guide

#6. LendingClub

Best for quick fund reimbursement 

LendingClud is an online source for those looking for quick personal loans with a co-signer. Borrowers can access up to $40,000 in cash at competitive APR rates.

However, the loan amount you can access and the charges depend on your credit strength.  

Key Features of Lending Club’s Personal Loan

  • LendingClub’s APRs range from 8.05% to 35.89%. 
  • If you need fast loans to take care of urgent issues, LendingClud is a great place to try. 
  • LendingClub requires a minimum credit score of 600 for borrowers to qualify.
  • Borrows can access from $1,000 to %40,000 at LendingClud.  
  • LendingClub charges a one-time origination fee of 3 to 6% of the loan sum. The money will also be deducted from your loan amount before cash disbursement.  
  • If your failure to meet up with your loan terms for more than 15 days, LendingClud may charge you a 5% of the pending amount or a $15 late payment fee 
  • LendingClub allows you to prequalify, allowing you to check your interest rate without affecting your credit score. LendingClub uses soft inquiry to determine the strength of your credit score when you apply for a loan.  
  • The loan term ranges from 3 to 5 years.  
  • There are no prepayment fees with LendingClub  

#7. OneMain Financial

Best for same-day cash access 

OneMain Financial provides borrowers a great opportunity to access from $1,500 to $20,000. The APRs start from 18% to 35.99% depending on your credit strength.

When you apply for a loan from One Main Financial, you receive your funds as early as the next day business day. Nonetheless, it is also possible to receive your funds on the same day.  

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Key Features of OneMain Financial Personal Loan

  • OneMain APRs range from 18% to 35.99%. 
  • The accessible amount from OneMain Financial starts from $1,500 to $20,000.  
  • There are no prepayment charges for loans from OneMain Financial. 
  • Application for OneMain Financial Personal loan begins online. Once your loan application is prequalified, you will then visit OneMain Financial branch near you for physical verification, expenses and income verification, and employment history.  
  • One main loan terms range from 24 to 60 months.  
  • OneMain Financial charges origination fees for personal loans. However, these fees will vary from one state to another. Therefore, you need to confirm with your choice OneMain Financial branch when applying for a loan.  
  • According to OneMain, they release funds as quickly as one day after the application is approved (Business day).   

#8. SoFi

Best for several loan terms and borrower’s benefit 

SoFi is outstanding for long loan terms, which range from two to seven years.

When your loan application is approved by SoFi, you can also leverage the opportunity of valued membership opportunities like loan leniency in case you lose your job and become unemployed for a while.   

Key Features of OneMain SoFi Personal Loan

  • SoFi APRs range from 4.99% to 19.53%. Borrowers who activate autopsy enjoy a discount of 0.25%.  
  • According to SoFi, the rates vary according to your credit score. Borrowers with good and excellent credit scores will receive better offers than those with poor credit scores.
  • Borrowers can apply for a minimum of $5,000 and a maximum of $100,000 from SoFi 
  • There are no Prepayment charges, late fees, or origination fees for loans you receive from SoFi. 
  • SoFi loan terms start from 2 to 7 years.  
  • To qualify for SoFi loans, borrowers need a min credit score of 680.  
  • In case you lose your job, you can apply for unemployment protection, which allows SoFi to pause your payment till you find another job. They can also asset you with job placement and help you become finically stable again. Other benefits for SoFi members include career training, financial planning, discount offers from partners, and other exclusive members events. 


When applying for a personal loan with a cosigner, ensure that your cosigner has very good/excellent credit or income history.

Many lenders consider the credit score and income level of the cosigner more than the primary loan applicant.

Applying for a loan with a cosigner whose credit score and income history are better than yours will allow you to qualify for better loans terms than when you apply alone.

You can find personal loan prequalification tools online to help you check your chances of qualifying for a personal loan.

Before applying for a personal loan with a cosigner, it is also important
to ask your cosigner to check their prequalification status to help you
understand how well they can assist your application.  



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