Refi cosign best rates?

[American]

I'm a newly minted attending and just paid off all my student loans. My wife is in residency and has about 280k we want to refi. Her income is obviously lower than mine so I was going to cosign on her refi. Anyone have experience with this? If so what are current rates people have gotten, is there a way to shop multiple rates at once on a cosigner refi?

 

Thanks!

[nachos31]

Check out WCI's ever updated (and recently, I might add) post about the options out there. One of them (Credible) shops several refi companies to give you a look at what you can get.

[American]

I have read it and did a refi for myself via Sofi a few months back, but often the advertised "low" rates listed are often much different than what you actually receive. Trying to see if anyone has applied recently and who had the best actual rate (not advertised low rate). Also if those rates differ a lot with a cosigner.

[Dru]

I consigned my wife's back in March, 3.5% 5 year fixed with SoFi. Super easy. She didn't qualify on her own as she was pretty part time (non physician) the 2 prior years due to maternity leaves.

[Rotish]

Just refi’d wifes loans with Sofi. 3.6% 5 year, just .25% above the lowest advertised rate.

[adventure]

We cosigned for each others loans with a refinance. Easy. Lower rates.

[Craigy]

American wrote:

I have read it and did a refi for myself via Sofi a few months back, but often the advertised “low” rates listed are often much different than what you actually receive. Trying to see if anyone has applied recently and who had the best actual rate (not advertised low rate). Also if those rates differ a lot with a cosigner.

Click to expand...

You're really just going to have to do the legwork and walk through each app.  Each cosigner situation is inherently more complicated than what most of these systems can handle.  Whether or not you do hard inquiries is up to you, but you could probably keep it down to just two or three pulls if you narrow your field.

The key is not to simply take the lowest automated offer, but to actually contact each company (through message system, email, etc) and ask them for a lower rate or to beat a competitor's rate.  "Hey, I'm cosigning here and I have an income of $XXX,XXX, credit score in the 800s, I believe I should qualify for the best rate, I am cross-shopping with X, Y, Z..."

For $280k of loans, it's worth hard shopping this and aggressively trying for the best rate possible.  Just clicking through the websites and taking the best offer is probably not going to get you the best rate.