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In Response To:
Thread Starter: Dan Persfull
Title: Re: Only using a relative as a co-signer

Regarding the co-habitation question:

Don't confuse applying for joint credit with the lender requiring a co-signer to qualify the loan.

You most definitely cannot treat joint applicants differently based on marital status but as Randy previously cited from the regulation for co-signers and/or guarantors you can be more restrictive in who you accept.

You also need to use a bit of common sense. Based on the length of co-habitation it could be feasible to make an exception.

Now with that said I personally don't' see the rationale limiting the co-signer to a relative. I rather have a strong non relative then a mediocre 4th cousin as a co-signer.

If you limit it to "immediate" family then you will have to designate what constitutes "immediate family". Once you do that then you most likely are walking a very thin line in designating who the co-signer must be, such as the father, mother, sibling, or grandparent.