I am seeking a personal loan of $40k
I have pretty bad credit, a score of just under 600 I believe from items several years ago.
I make $53k a year now.
I realize I don't even have a shot at applying for a loan anywhere, but would I have a chance at an unsecured loan if I apply with a cosigner?
Cosigner makes $100k/year, est. 750+ credit score, has a condo half paid off.
If that is not possible, then would the only be a home equity line of credit? Would I still be able to apply for that if the condo is in my cosigners name?
I think you would have a shot with a cosigner. it is important also to know what the 40K loan is for. That might be important to the loaner. If someone is willing to cosign a loan for you. then consider asking them either to borrow the money themself or loan you some of the money themself. Also, while it can be painful to do so at least for me, is there a possibility of borrowing the money from a family member? Do you have anything to partially secure the loan with? Can you partially fund the 40k with a few smaller loans or money from several different spots? For example, it might not be hard to borrow say 14k from a bank. It would at least be easier than 40k maybe.