the main purpose of requiring a cosigner on a loan is to\nlimit a lenders collateral requirement\nlimit a…
the main purpose of requiring a cosigner on a loan is to\nlimit a lenders collateral requirement\nlimit a borrowers capacity requirement\nsecure the loan if the lead borrower defaults.\nexpand a banks lending capacity.
Answer
Brief Explanations:
A cosigner is someone who agrees to take on the responsibility of repaying a loan if the primary borrower defaults. This provides an extra layer of security for the lender. It is not about limiting collateral requirements, limiting borrower capacity requirements, or expanding a bank's lending capacity.
Answer:
secure the loan if the lead borrower defaults.