Dangers of Cosigning Somebody’s Home Loan Loan Cosigning that loan has a complete large amount of dangers. Here’s what you ought to understand before you commit. Another relative, or a friend can’t qualify for a mortgage due to bad credit and asks you to cosign a loan, you might want to think twice if your child. You’ll want to carefully give consideration to both the upsides and downsides. Needless to say, the upside of cosigning a loan is you’re able to greatly help a cherished one get home financing them to purchase a home or to save interest with a lower rate that they otherwise couldn’t get on their own,…