A child not only means joy, it is also associated with costs. The children’s room furnishings and the new clothes cost a lot of money. If you want to take out a loan during pregnancy, you have to consider a few things. If the spouse has a fixed salary, there will be little problem getting a loan during pregnancy. However, the situation is different if the pregnant woman is a single parent, since then the salary is missing as security.
Single parent – chances of getting a loan
Taking out a loan during pregnancy is not easy, but not impossible. It is difficult to convince banks to grant loans to single parents in particular. But then nobody should lose courage too quickly because there are possibilities. Since the salary is missing and with it the security for the loan, other security must be provided. The best thing would be to find a guarantor who signs the loan agreement and thus vouches for the loan. If this is not the case, a life insurance can serve as security. However, since most expectant mothers are still quite young and so that they hardly have life insurance that has been running for several years, other ways must be found.
Bank refuses loan application – what to do?
Single mothers can still ask the authority for a loan. These often grant small amounts of credit during pregnancy. So at least the most important purchases can be made. Otherwise, there is only the way to your own family, who may borrow money or even buy furnishings. This way you don’t have to pay your interest and the family takes time before they want the money again.
Apply for a loan as a spouse
Anyone who is married and expecting a child will have little difficulty when it comes to a loan during pregnancy. It is only important that a partner has a fixed income that is above the garnishment allowance. With an excellent Credit Bureau, a loan can then be applied for, which is usually granted as a small loan. The bank requires proof of income and the last three bank statements. This enables her to check that there is enough income to repay a loan. As soon as the application has been approved, the agreed loan amount will be transferred to the account.