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score of 590, should i co-borrow?

New Visitor

score of 590, should i co-borrow?

my daughter's looking into refinancing her car to possibly get a lower interest but she actually has a better score than me, which is about 700 from all three. she's only had her current auto loan with wachovia since march, and she's joined a credit union recently. would i actually hurt her chances of getting approved for a refinance because of my score, or would i make a positive impact instead due to my stable and higher salary?
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Valued Contributor

Re: score of 590, should i co-borrow?

If her scores are over 700 she will qualify for a refi without any problems. Her salary qualified her for the original monthly payment amount and most likely the new refi monthly payment will be less.

A 590 score as a co-signer wouldn't do anything to help.
Mortgage Lenders Mid-Score 778 I AM A HOMEOWNER!!!!! 30 Year 5% Fixed Rate, closed on 3/18/09
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