While you can easily get a loan as a couple without children or as a single person with a solid income and a good credit rating, many banks find it difficult to grant a loan to families. With several children in particular, the signing of the loan can be preceded by a longer search.
Loans only for childless people?
At first glance, it may appear that the banks’ offerings for loans are only aimed at childless people. Because in the loan offers, banks generally always assume that there are no children. These are only included afterwards. But what to do if you are looking for a loan with 2 children and also urgently need it?
In the first place, the income must be right. If it is sufficient that there is enough money left in the household bill for all family members, a loan should also be possible.
You should keep that in mind
To get a loan with 2 children, you have to have a significantly higher household income than childless applicants. To be able to achieve this, both partners should always apply for the loan in the case of a loan with two children. So both incomes are included in the calculation and the chances of a commitment increase significantly. You should also offer an additional guarantor from the start. This can be your own parents or maybe already grown children who have their own income and can provide financial support in an emergency.
Again, the bank won’t say no if you make this offer. If you also have valuables or capital insurance that can also be offered as security, there should hardly be anything in the way of a loan with 2 children. In addition, as a last anchor, one can also take out residual debt insurance, which in the event of unemployment or incapacity to work for the loan. And if the bank is still skeptical after all, you should look for another loan partner if necessary. Perhaps it is generally the case with this bank that the credit processes are not geared towards families.