Co-Signer Requirements

  • You must be a current Michigan resident.
  • You must be employed or have investments or savings.
  • You must complete a co-signer application, authorize a credit report check and provide a copy of your driver’s license. Hebrew Free Loan will call you to verify your information and confirm your commitment.
  • You may be a previous borrower in good standing.
  • You may co-sign on more than one HFL loan at a time. However, Hebrew Free Loan reserves the right to determine the number and amount of co-signed loans.

Who Cannot Sign:

  • A person who currently has a loan with HFL may not co-sign.
  • A person on a fixed, limited income (such as Social Security and/or pension), unless other investments or savings are available.
  • Professionals employed by any agency in the Jewish community (such as rabbis and cantors, Jewish agency executives and staff, day school teachers and staff) may not co-sign. Some exceptions may apply.
  • Persons in active military service may not co-sign.
  • If a co-signer is married, his or her spouse may not act as the second co-signer on the same loan.