Can I get a loan without a cosigner?

[B0ARDIN087]

I'm 22 good credit as far as i know. I'm graduating in May and have a job offer in the 60's for when I start. But since I dont have any actual income from that I don't know if its worth anything? Hrmm?

 

[chris302001]

I'm guessing its gonna depend on how much you're asking for.

 

[chris302001]

I'm guessing its gonna depend on how much you're asking for.

it's

 

[SpyWizard]

proof of income is not a job offer..

2 weeks paystub is proof of income..

 

[miplank]

What are you trying to get? Not that it really matters.

without a job, even a cosigner isn't going to help you. If you do infact get a job, i'm almost certain you'll have to have a cosigner as you'll have short job time.

 

[PICK3]

Shrimpy will give you $$$ for cawk pics

 

[rnch]

if your initials are "AIG" you can..

 

[75th]

No.

 

[calveless wonder]

you have to give us more details than that

what type of loan?
what's your credit score?
what's on your credit report?
Paper or plastic?

Etc

 

[calveless wonder]

What are you trying to get? Not that it really matters.

without a job, even a cosigner isn't going to help you. If you do infact get a job, i'm almost certain you'll have to have a cosigner as you'll have short job time.

that's not true.

if you are in school and then graduate and get a job, your time is accounted for and counts towards your job history. i did loans (in the last year) for people that came straight out of college.

 

[Cutiebaby]

It all depends on what type of loan you are going for and why.

 

[miplank]

that's not true.

if you are in school and then graduate and get a job, your time is accounted for and counts towards your job history. i did loans (in the last year) for people that came straight out of college.

yeah..in the past year. Things are different now bucko!

Banks are tightening their reins.

Ultimately, it's going to come down to what is on his bureau. Just because he may have a hige FICO score doesn't mean anything if it is a slim file. The score isn't everything. There are a lot of things that go into determining approval or not. DTI, LTV, etc..etc..

 

[Dial_tone]

If it's a car I seriously doubt. You probably can't even rent a car out of state til you're 25.

 

[miplank]

oh, and i'm speaking purely from an auto loan perspective. I do them day in and day out....If you're looking for a mortgage loan or something then jnevin can probably answer that better.

 

[javaguru]

that's not true.

if you are in school and then graduate and get a job, your time is accounted for and counts towards your job history. i did loans (in the last year) for people that came straight out of college.

I doubt that's possible in this environment, a year a ago you could get a ninja loan, not now. My nephew's best friend from college has a job at a major bank as a loan officer, he claims that he turns down 90% of applications these days.

 

[PICK3]

a year a ago you could get a ninja loan

I just qualified for an ass bandit loan

 

[javaguru]

I just qualified for an ass bandit loan

Good job, going str8 to the top and banging Barney Frank...

 

[puddlemonkey]

...If you're looking for a mortgage loan or something then jnevin can probably answer that better.

He's having troubles typing with that torn bicep. Might be awhile before he can respond.

 

[ortiz34]

I doubt that's possible in this environment, a year a ago you could get a ninja loan, not now. My nephew's best friend from college has a job at a major bank as a loan officer, he claims that he turns down 90% of applications these days.

He is not joking
My parents who own a house worth 640K, and have a note on it of 150K so that is 490K in pure equity
My dad also own my dead grandmothers(died in oct 08) house worth 200K paid off, no mortgage.
Anyhow they have perfect credit.

They then turn and buy another house for 650K put their original house for sale once the signed the P&S.

So anyhow they needed a 200K loan regardless


the local bank turned them down

I was laughing, but pissed at the same time that all these fucksticks who didn't pay their mortgages make it frustrating for innocent, play by the rules people such as my folks.

they have now gone through a broker who seems to have gotten them the loan
they still had to jump through hoops though

 

[UA_Iron]

You might not have a problem.

A generic 'good' credit score from a site that you can check all 3 bureaus is kind of vague - they arent *exactly* the same thing as FICO scoring either.

Depth of credit
Credit History
Debt to income ratio
Amount of inquiries

All those come into play when applying and getting approved for a loan.

But you never told us what you would be applying for?

 

[calveless wonder]

I like how people who are not or haven't been in the industry are telling me what can be done and what can't, based on their knowledge of...nothing?

guidelines were pretty much just as fucked 8 months ago. that particular guideline has not changed

 

[miplank]

I like how people who are not or haven't been in the industry are telling me what can be done and what can't, based on their knowledge of...nothing?

guidelines were pretty much just as fucked 8 months ago. that particular guideline has not changed

i work in the industry...on the auto side of things.


But at the end of the day, it's really hard to give accurate advice based on what the OP has given.

 

[calveless wonder]

i work in the industry...on the auto side of things.


But at the end of the day, it's really hard to give accurate advice based on what the OP has given.

that was moreso directed to java and ortiz.

you acknowledged your scope of knowledge was on the auto side of things

 

[miplank]

that was moreso directed to java and ortiz.

you acknowledged your scope of knowledge was on the auto side of things

I would like to know what kind of loan he's looking to get.

 

[jnevin]

What are you trying to get? Not that it really matters.

without a job, even a cosigner isn't going to help you. If you do infact get a job, i'm almost certain you'll have to have a cosigner as you'll have short job time.

He can use his transcripts to show a history of being in that line of work, but he'll need his first paystub before getting anywhere. Home wise that is.

 

[jnevin]

And if it is a home loan, FHA is fine with lower scores and less down. Depth of credit isn't as important either.

 

[miplank]

He can use his transcripts to show a history of being in that line of work, but he'll need his first paystub before getting anywhere. Home wise that is.

that only applies if he (or anyone in the same situation)goes into the line of work as their degree.

I see a lot of college students/graduates that have an excellent score because they had student loans, but that's always a false positive as most of the time they're deferred no payments have been made yet.

 

[jnevin]

that only applies if he (or anyone in the same situation)goes into the line of work as their degree.

I see a lot of college students/graduates that have an excellent score because they had student loans, but that's always a false positive as most of the time they're deferred no payments have been made yet.

Thanks ya financial wizard. Was my wording confusing? Showing history in that line of work?

 

[miplank]

Thanks ya financial wizard. Was my wording confusing? Showing history in that line of work?

LOL!

I meant to put a ? mark at the end of that. I was just clarifying.