Cosigner Qualifications

Cosigners are not allowed unless the Listing Agreement between the Broker and the Property Owner specifically allow it.  Cosigners must be Personal and cannot be Corporate.  Cosigners must be Alabama residents.  Contact the office during business hours to request a link to the Cosigner Application.

INSURANCE DISCLOSURE AND SUBROGATION RIGHTS NOTICE: The property owner maintains certain insurance coverage which provides benefits, including but not limited to, reimbursement for eviction costs and related losses (e.g., loss of rent, tenant damage) incurred by the Owner. The existence of the Owner’s insurance coverage does not relieve the Tenant and/or a Cosigner of liability for their actions or obligations under this Lease Agreement. The Tenant and/or a Cosigner is hereby advised and expressly acknowledges the following: (1) Any and all benefits, payments, or reimbursements provided by the Coverage are solely for the benefit of the Property Owner and the Property Manager; (2) The Tenant and/or a Cosigner is not an insured or a beneficiary under this policy and is not entitled to make any claim for payment or benefit from the Coverage; (3) The Tenant and/or a Cosigner remains fully and personally responsible for any and all damages, unpaid rent, and costs caused by the Tenant, their household, or guests, as detailed elsewhere in this Lease Agreement and under Alabama law; (4) The Tenant and/or a Cosigner is hereby advised that SureVestor (the insurer) possesses legal rights of subrogation. This means that if the insurer pays the Property Owner for a loss caused by the Tenant’s actions or negligence (e.g., malicious damage, unpaid rent leading to eviction), the insurer may, at its sole discretion, pursue legal action directly against the Tenant and/or a Cosigner to recover the funds paid to the Owner.  

Qualifications for a Cosigner include but are not limited to:

  • At least a 740 FICO 8 Credit Score.
  • At least a 5 to 1 Income to Rent Ratio.
  • No more than a 36% Debt to Income Ratio.
  • No more than a 15% Credit Utilization Ratio (UR).
  • All accounts in the Credit Report, whether disputed or not, must be in Good Order without any delinquencies.