Housewives want to take a loan, they find themselves in a paradoxical situation again: Although they have known enough work, but do not generate income, at least not directly. But such is needed in order to apply for a loan from the bank. Nevertheless, there are ways in which a loan can be granted to the housewife.
Credit for the housewife by guarantee and co-applicant
The easiest way for a housewife to get a loan is to apply for it with the help of third parties. As a rule, this is the husband who, as sole earner, has the income that the bank requires to apply for a loan. Because regardless of whether he wants to act as a guarantor or co-applicant, in both cases, all the collateral required by the bank and the main applicant, they can not pay themselves for it.
The difference between guarantor and co-applicant is mainly at the time of liability. As is known, a guarantor only takes action if the applicant is in default with the regular payments of interest and interest or can not or will not be able to do so in the future. From this point on, the guarantor is liable on his own and is therefore obliged to pay the bank the full amount of the monthly payments. This may also take so long until the loan for the housewife is completely paid off.
Co-applicants, on the other hand, are directly involved in the credit agreement from the very beginning and therefore have to ensure that the debt service does not falter after conclusion of the contract. Both variants require the third party in addition to the regular income in sufficient amount and a credit bureau, which should be positive if possible. If a loan is already running, it is again a question of the amount of income whether or not the loan is approved for the housewife. Decisive is always the bank’s assessment of whether the monthly income is sufficient.
The second possibility: The credit line
As a rule, banks have little or no problems lending money if the account has regular cash flows. Whether these ultimately come from a secondary occupation or constitute a regular transfer of the spouse, is hardly significant, as long as they appear only regularly on the account of the housewife.
The disposition credit has its advantages and disadvantages: On the one hand, it is extremely flexible in its handling regarding repayment and repayment, but on the other hand it comes with comparatively high interest rates. This is partly due to the fact that the banks do not know exactly when the debits are repaid, as there is no fixed repayment plan. The interest on the loan amount, however, is accurate to the day and only for each amount that was actually used. The checking account, which is here temporarily held in minus or debit, is served from the current deposits. The maximum amount that can be used to keep the account in target is based on the credit line that is displayed on each bank statement. This in turn is calculated from the regular incoming payments to the account and is usually a two to three times the sum of them.
A discretionary loan is suitable as a loan for the housewife due to the relatively low amount of credit hardly for larger purchases, but to compensate for short-term payment bottlenecks. Due to the associated high interest rates, care should be taken to ensure that the current account is cleared as quickly as possible in order to avoid high interest payments. Larger investments require installment credit as a housewife credit and should therefore be undertaken in conjunction with the spouse, as the latter is officially in possession of the collateral.