Credit for Housewives – get a secured loan

Housewife credit from earlier days is still offered just as it was then. However, the procurement guidelines have become stricter. For example, in the past, if you could prove that you would receive household money on a monthly basis, a small loan would be approved. Nowadays, banks are stricter on a housewife loan. In most cases, the loan must be secured.

The loan for housewives – the outlook

The loan for housewives - the outlook

Housewife loans from the past are now called small loans. They are for housewives and housewives, the unemployed, students and often also for the elderly. There is often something different in advertising for these loans than it actually is. Generally there are no loans without income. There is no credit rating query, but this form of credit also has its own terms. In addition, the loan for housewives without a sufficient income is more expensive than a conventional loan.

The small loan is granted with loan amounts of 500 to 5,000 dollars. An urgent purchase but also a wish can be fulfilled. Even today there are women who want to surprise their husbands with a driver’s license and secretly take driving lessons. So that the necessary money does not appear in the monthly budget, many housewives are still looking for a loan for housewives.

If the loan has a useful purpose, the partner could also sign it. In this case, the loan approval looks very different. If the partner has a sufficiently high income, completely different loan amounts and better conditions can be expected.

A second solvent borrower could be the second borrower instead of the partner. If the woman still has a USD 400 job on the man’s income, the rates could be adjusted to around USD 400. Before the loan for housewives is applied for at all, it should be checked whether the installments can also be paid. An income / expenditure plan makes sense here. All monthly, but also annual and quarterly expenses should be allocated and included in the monthly budget.

If there is a plus, the installments could be paid for a loan for housewives. The loan could be requested from the house bank. The bank knows the housewife’s finances and knows about her solvency. But the house banks or local banks in particular have very strict requirements that do not allow a loan to a married woman without the signature of the partner.

Is a private lender the solution?

Is a private lender the solution?

There are still direct banks from the Internet to choose from. Since these banks usually have an automatic standardized check procedure, a loan seeker with insufficient income will fall out of the grid of these banks, the consequence of which is the loan refusal. Perhaps a loan agency could achieve something here. Credit brokers provide loans to customers with limited credit ratings, even those with little income.

After checking the total income, ie the partner’s income and the sum of the 400 dollar job, he could then apply for a loan from one of the banks known to him. However, the housewife should know that the loan will then become more expensive overall, since the commission from the intermediary is added.

There are also private lenders on the Internet, with two to three known intermediaries. They grant private loans of up to EUR 1,000 and do not check the individual loan using an automatic check procedure, but on the basis of the data available to them. These lenders create an advertisement on a financial marketplace where the customer can present their loan request. Once it costs 40 dollars and the campaign runs for one year. Private investors can bid on a loan.

The other loan

The other loan

With all advertising campaigns that are currently running on the Internet, the housewife should know that she usually does not get a loan without the partner’s signature. The advertisements promise without income and without credit rating and also without the signature of the partner. If you read these slogans carefully, you will notice that there will not be a loan for housewives.

If the housewife would like to buy consumer goods from the loan, such as a washing machine or a new stove, there are department stores and electrical stores that lure with cheap offers and some have very cheap rates. For example, if the housewife has been a customer of a department store for a long time and there were no payment difficulties, she can continue to order there without asking for creditworthiness. The electronics market has almost the same conditions. However, a credit rating query is made here.

Basically, as the housewife should know, there is no loan without collateral. Be it income or other collateral, such as real estate or loanable insurance. For insurance, it should be mentioned that, for example, the housewife has a life insurance policy that has existed for some time, so she could apply for a so-called policy loan.
This means that the surrender value that the insurance company has is paid out as a loan and paid back in small amounts. However, the surrender value here must already be 5,000 dollars. To what extent this is a sensible solution would have to be discussed with the bank.

The solution

The solution

If the partner also signs the loan agreement, a loan can also be requested from the many direct banks. After a credit comparison, the list of the cheapest providers is listed and the loan application can be made directly via the comparison. Information such as the loan amount and the term are entered and sent away. The housewife then receives a preliminary loan decision.

A final decision will only be made once all the credit documents have been received by the bank and checked by the bank. To prove the creditworthiness, the partner’s proof of wages and possibly their own proof of income, bank statements and a copy of the partner’s employment contract must be presented. If everything is in order, the loan for housewives is approved.

If the housewife cannot bring the signature of a second borrower, she has to offer other guarantees. This can be a property or, as mentioned above, a loanable life insurance. Other valuable securities, such as valuable jewelry, are also accepted as security.

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