At this time, some of our lending partners accept cosigners, and both the borrower and cosigner must be a U.S. citizen. Your ability to add a cosigner will depend on the lending partners you qualify for. For certain borrowers, applying with a cosigner may enhance your application.
At this time, cosigners are required to be U.S. citizens. Additional cosigner criteria will vary based on the lending partners with whom you qualify. When an application has a cosigner, the borrower and the cosigner will both a) jointly apply for credit; and, (b) be jointly liable for the requested loan, but only you will receive the loan proceeds.
A cosigner can be a spouse, parent, relative, or any other adult that meets our lenders’ criteria of having U.S. citizenship. A cosigner is responsible for repaying the loan if you cannot. Adding a cosigner may enhance the rates you are eligible for.
Cosigner release options vary based on Splash lending partner. Typically, Splash customers with a cosigner on their loan may request a “cosigner release” after one year (twelve consecutive months) of on-time payments is met. Upon the request, a quick re-evaluation is completed on the borrower’s financial and credit profile (this does not mean the borrower would have to re-apply).