No fixed employment relationship does not necessarily mean that the credit options are low. Even housewives can get a loan.
With the special forms of credit, often referred to as housewife credit, the credit market offers credit to all those who otherwise would not get credit because of the rigid credit conditions.
What is behind the credit for housewives?
A housewife loan is not offered at every bank. As a rule, there are offers from the Internet, where all housewives or householders can realize the dream of money. It should be noted that such a loan is usually not issued by a German bank. For domestic banks, a fixed income is a basic requirement for obtaining credit approval. Housewives who are just not paid for their work fall through the grid.
That the credit is still possible, however, show many offers that are brought to the needy through a credit intermediary. A credit for everyone is promised, so the application of housewives should not be rejected. It can often be seen that banks abroad are applying their requirements less rigorously. Although an income has to be proven, this is not as high as with banks in this country. So can the income from:
- Child support,
- Raising allowance,
- Maintenance obligations or the income of the partner
to be used. It quickly becomes clear that the credit conditions are relaxed, and so housewives can get a loan.
Markings for the housewife credit
As housewives do not provide the high level of collateral with income, as does a person in regular employment, banks will also impose some restrictions on the disbursement of the loan.
So it will usually be so that the maximum loan amount is limited. Housewives can only receive a microcredit. The minimum sum is on average € 500, the upper limits are relatively open. It can be seen, however, that the loans, as the loans are traded without Private credit, and so a cap of € 3,000 or € 3,500 is present. In this range loans for housewives can be approved.
Borrowing costs at the credit for housewives
It clearly shows in the marketplace that a housewife’s credit is not cheap. Say, the borrower has to expect high interest costs. This is explained solely by the fact that the loan is awarded with only a few collateral. The banks will therefore invest the interest rate higher due to the higher risk.
It is very important that the loan is also affordable. Anyone who has no income as a housewife, should, in spite of everything, think of what the loan can be repaid. The income from child benefit or other benefits actually serves the livelihood. Since the funds are already low, the desire for a loan is certainly given. That then from this money but in the future even a loan installment must be paid, is not the actual meaning of the remuneration.