For example, young families who are about to give birth to a child are easily in financial distress. Especially when an active person falls away, as this takes over the care of the child.
The parental allowance supported in the first months, although most families to compensate for the loss of service.
But the necessary investment in the birth of a child can quickly lead to financial bottlenecks. For these reasons, more and more families opt for a loan.
The chances of getting a loan are particularly high when there are several children and the loan is intended to finance the home furnishings.
In this case, the funding of the loan for families of municipalities, or federal and state is promoted.
Credit for families at the bank
As with any other form of credit, the creditworthiness of a family loan is a basic requirement. Especially young families often find it difficult to obtain a loan because it is often problematic when it can not be guaranteed that the monthly installments can be paid.
It is usually the case that there is only one earner in the family, that is to say a worker, although usually only temporarily in the time when the child rearing is due. This means in most cases that the income must be enough for at least 3 people.
Credit for Families: Compare providers
Since the offer from the various banks and banks has become very large and confusing, one should compare thoroughly before borrowing. Ideal here is a comparison calculator. There are now many different comparison portals that offer these comparison calculators. In just a few steps you can find out which current offers and conditions are currently available in this area. An advantage of these computers is that not only bank loans, but also online loans are taken into account.
Because more often online loans are much cheaper and offer better conditions. In addition to this, the additional costs, as well as the fees for early repayment, special repayments, interest on arrears or other costs should be taken into account in the comparison, so that you do not end up paying too much.
Another important criterion is, of course, the duration, because this has a decisive influence on the cost of borrowing.
The application for the loan
When applying for a loan, both should be present at the bank, even if the wife currently has no income or only parental benefit.
Because two borrowers usually have a much more positive effect on the credit rating. Another important criterion is the purpose, and it is essential to favor a loan that is not committed to a particular purpose. Otherwise, problems can occur when the family uses the money for other things.
Various types of loans for families at a glance
Today, thanks to the great demand, there is a comprehensive range of different types of credit. For example, the framework credit is very popular. This loan is a loan over a certain sum and minimum rate over a fixed period with a variable interest rate. As a rule, a credit line can be redeemed early without major formalities.
Furthermore, a framework credit for families in the same amount can be claimed again at any time. He is roughly comparable to a large discretionary credit. Also in great demand is the civil servant loan, which is often referred to as endowed capital life insurance. Here, the loan takes out a life insurance, which corresponds to the amount of the loan amount.
Interest and insurance premium must be paid over the entire term. The interest rate remains the same all the time. The loan can only be repaid after the insurance expires. However, as the name implies, this loan model is only available to lifetime officials.
Further credit types
Furthermore, there is the mortgage loan. This loan over a certain period of fixed installment and fixed amount is hedged through a mortgage deed.
The interest rates are therefore very favorable. In addition to the free, there is also the earmarked loan, which can only be used to preserve the value or increase the value of the loaned object. The loan without private credit is also increasingly in demand.This loan takes place without prior consultation with private credit and is mainly offered by Swiss banks.