Help Your Child Without the Paperwork Headache
Your child needs help qualifying for a loan or apartment. You want to co-sign. Then comes the unexpected request: 'We need your personal financial statement.' Be ready in 8 minutes.
Time to Completion
A Co-Signer Financial Statement is a document proving to a lender that a guarantor has sufficient assets to cover a loan if the primary borrower defaults. Helping your child take their next big step—whether it's their first apartment, first car, or first student loan—is one of the most meaningful things a parent can do. But when you agree to co-sign, lenders don't just take your word for it. They need documented proof that you have the financial stability to back up your commitment. This is where many parents get stuck: the lender suddenly asks for a personal financial statement, and you're scrambling to gather bank statements, retirement account balances, and property valuations while your child's deadline looms. StatementsReady turns what could be a weekend project into an 8-minute task, so you can focus on supporting your family instead of fighting paperwork.
Why Lenders Require Co-Signer Financial Statements
When you co-sign, you're guaranteeing the loan. Lenders need to verify you can cover payments if the primary borrower can't.
Unexpected Documentation Request
Most parents don't expect to provide a full financial statement just to help their child. The request often comes at the last minute, creating stress.
Privacy Concerns
Sharing your complete financial picture feels invasive. You want to help your child without exposing every detail of your finances.
Multiple Co-Signing Requests
Student loans, first apartment, first car—you may need to provide this documentation multiple times as your child builds their own credit.
Co-Sign with Confidence
StatementsReady makes it easy to provide the documentation lenders need while keeping your information organized and secure.
Your financial data stays protected with bank-grade encryption. Share only what's necessary.
Send your statement as a password-protected file. Control who can access your financial details.
Keep a record of all loans you've co-signed. Important for understanding your contingent liabilities.
Save your statement and update it quickly when the next co-signing opportunity arises.
Unlike some verification services, you maintain control. Create your statement without giving anyone access to your accounts.
Why Parents and Guarantors Choose StatementsReady
When you're helping your child qualify, the last thing you need is a complicated process. We've made co-signer documentation simple and secure.
Privacy Protection Built In
You can help your child without exposing every detail of your finances. Password-protected PDFs and secure sharing let you control exactly what the lender sees.
Reusable for Multiple Applications
First apartment today, first car tomorrow, student loan next semester. Save your statement and update it in seconds for each new co-signing request.
Track Your Contingent Liabilities
Co-signed loans appear on your credit report. StatementsReady helps you track every loan you've guaranteed, so you know your true financial exposure.
No Bank Login Sharing Required
Unlike some verification services, you maintain complete control. Enter your information manually or sync securely—your accounts stay private.
Co-Signer Documentation Package
How It Works
Creating your personal financial statement is simple with StatementsReady.
Connect Your Accounts
Securely link your bank accounts via Plaid or enter information manually. Your choice.
Review & Customize
Verify your information, add any additional assets or liabilities, and customize as needed.
Export & Share
Download your professional PDF or share via secure link. Ready for your lender or attorney.
Frequently Asked Questions
Why do lenders require a financial statement from co-signers?
When you co-sign, you become equally responsible for the debt. Lenders verify that you have the financial capacity to cover payments if the primary borrower defaults. Your net worth and income prove you're a reliable guarantor.
What net worth do I need to co-sign a loan?
There's no universal minimum. Lenders typically want to see that your net worth and income are sufficient to cover the loan payments comfortably. A higher net worth relative to the loan amount increases approval odds.
Should I list the loan I'm co-signing as a liability?
Not initially—the loan isn't your direct liability until it exists. However, once co-signed, the full loan amount appears on your credit report as a contingent liability. Future lenders will see it.
How do I track all the loans I've co-signed?
StatementsReady helps you maintain a record of contingent liabilities. This is important because co-signed loans affect your debt-to-income ratio for your own future borrowing.
Can I create a statement without sharing my bank login?
Yes. While bank syncing provides the most accurate balances, you can manually enter your financial information. You maintain complete control over what data you share and with whom.
Be Ready to Help When It Matters
Don't let paperwork delay your child's loan approval. Create a professional co-signer financial statement in 8 minutes and support your family's next step.
Create My Statement Free