A classic family model does not exist in Germany anymore. Time has softened the “mom – dad – child – family” and made space for many other constellations. And so it is not surprising that more and more single parents are among us.
Women and men who care about the children, the household and earning money without a second partner. That this is not an easy job, should be clear to everyone. And that also single parents have financial desires and needs as well, but what about a loan for single parents? Is this available and if so on what conditions?
A loan for single parents is possible
Even though lone parents are not necessarily the favorite clientele of credit institutions, lending to single parents may be possible. As with all other borrowers, however, some requirements must be met.
Thus, in the first place a positive private credit must be mentioned, which has no open liabilities or other negative features. The monthly income must be right. It has to be so high that all family members can live on it. In addition, it must be obtained from an activity that is not temporary. Civil servants have particularly good chances of obtaining a loan for single parents. You have a very secure job and are therefore welcome bank customers. Even if they are single parents.
When choosing the right loan, especially as a lone parent, you should make sure that the loan is chosen to match the income. The sum should not be too high and also the repayment modalities must fit. The loan must be serviced every month. Sometimes over many years.
This should never be forgotten when it comes to the choice of installment. In addition, one should always keep in mind that one has wishes as a family. Vacation, car, furniture and clothing. Many things need to be renewed or undertaken during the repayment term. Again, there must always be enough money. If this is the case, nothing will stand in the way of a loan.
Tip: At best, one speaks first in the house bank regarding the loan. Here, as a lone parent, you have the best chance of financial support.