Taking out a loan is a normal and everyday thing these days. In Germany alone, there are currently around 17.5 million loans. The reason for the admission is often the desire for a new car, a property or the purchase of furniture and electronics.
The desire for a loan becomes particularly strong when a child is born or when there are already children in the family. But this is where the problem often lies. Because the banks are not very generous towards families with children. We have listed for you how to get a loan with children despite all of this and what requirements have to be met.
The assessment of the financial situation
In order to take out a loan, the financial background must be right. It is not important whether it is a loan with children or another loan. In the first step, the banks always check whether there is enough income to be able to service the loan after it has been taken out.
So that there is no disappointment when submitting the application, you can compare the monthly income and exceptions yourself. It is important that child benefit and possible maintenance do not count as income. Only the money that is drawn from an unlimited employment relationship subject to social security contributions can be included in the calculation.
This income must then be compared with the expenditure. On the one hand there are fixed costs such as rent, electricity, telephone, insurance and all other regular and fixed expenses. In addition, a fixed cost rate for meals, clothing and other expenses must be billed per person. If there is still money left over, you can use it to calculate the amount of a possible loan with children.
A comparison of the offers
If the income is sufficient and a loan with children is possible, then you should not award the first best bank. Rather, it is worthwhile to compare the various offers very precisely. Even if the differences in interest rates may appear to be only marginal, in the end they can make the loan more expensive or cheaper. If you look closely and compare, you can save a lot of money.
Tip: A good comparison is best done using a comparison calculator on the Internet. There you can enter all the relevant data for a loan with children and the best offers are displayed a few seconds later. And with current interest rates and all important details about the loan.