Unfortunately, mothers only have endless credit with their children. For loans from a bank, there are no special rules or interest rate reductions for them. What to look out for in loans, when housewives and mothers are eligible for credit, is what the article is about.
The loan for mothers – the normal rules apply.
When it comes to credit for mothers, unfortunately only their own children grant a special bonus. A mother is a normal borrower for every bank. Anyone who manages to combine the full-time job with childcare does not have to put back on loans. In this case, the most important thing is to find the cheapest possible loan. Favorable financing offers can be found particularly often in the direct banks on the Internet.
Direct banks often do without an extensive branch network. They use the Internet business predominantly or even exclusively. Part of the saved costs for rents and personnel benefits the loan terms and interest rates. The cheapest loan offer can therefore almost always be found at a direct bank.
The application for credit is mostly made online. Only after the provisional loan approval must the application be closed in a conventional manner. All documents are brought to the post office. The applicant’s ID check also takes place there immediately. This procedure is required by law and cannot be avoided. After that, everything else is automatic again. Payment of the loan is expected approximately one week after the lender receives the documents.
Part-time mothers – creditworthy with reduced income?
The credit for mothers in part-time jobs is tied to somewhat narrower limits. Income plays a crucial role in every loan. With a part-time job, the borrower can quickly reach income limits. It would be inappropriate to mention lump sums at this point. The entire life situation is always assessed in the credit assessment. The individual life situations are so different that a serious statement without knowing the individual case is hardly possible. Basically, due to the reduced income, only a reduced credit rating can be assumed.
Small loans are generally possible. What counts as a small loan depends on the provider. As common sizes, there are credit limits between 3000, – USD and 5000, – USD. Small loans from the Internet are not only attractive with low interest rates. The rate is low and the approval process is simplified. In principle, only the Schufa and the income are checked. If everything is in order, this loan will also be approved for mothers.
Housewife loans without work income.
A few years ago, the loan for mothers was still a typical housewife’s loan with no personal income. The child benefit and the normal household budget were used for repayment. Unfortunately, times have changed with regard to these simple loans. Today, every loan has to be considered safe according to a scheme. If you cannot prove your own work income yourself, you need the help of your partner.
Without a person who guarantees their income from work, lending can almost be ruled out. Without working income, a maximum of orders on account are possible. For customers who have been loyal for many years, it may also be the case that a small commercial loan is possible. However, the installment payment is limited to a few installments and the loan amount to a few hundred USD. Housewife’s loan as a loan for mothers is practically extinct.