Those who want or need to take out a loan during pregnancy will mainly do so in order to be able to absorb the costs incurred for the upcoming purchases. After all, a child costs a lot of money. And not all parents-to-be can muster this easily.
Many pregnant women are considering how best to take out a loan during pregnancy. Especially if you don’t have a second borrower, considerations that the pregnancy should perhaps be kept secret.
However, this path is not recommended. Because even if you can still access regular income during pregnancy, this changes suddenly with the birth of the child. In most cases, only parental allowance is available here, which is significantly lower than the previous income.
It can therefore very well happen that the loan can no longer be serviced and you are in a debt trap. It is therefore much better to follow the traditional route for a loan during pregnancy.
How a loan works during pregnancy
There should be no problems if you designate a second borrower for the loan from the outset. The pregnant woman may even take a back seat and offer a main borrower. So she could act as a surety and still get a loan.
With such a constellation, it doesn’t even matter whether you’re married or not. Rather, the income of the “supporter” counts. This must be high enough and come from a permanent employment contract.
The amount of a loan during pregnancy
If you can name a second borrower, the amount of the loan is always based on its income and collateral. The better these two criteria are, the higher the credit can be.
If, however, you are a single parent and cannot name a partner for borrowing, you can turn to social institutions. Here, money is given to pregnant women who cannot receive any other support. The most important things for the baby can then be bought from the money.
But be careful: Even if there are different institutions that support pregnant women in need, the money may only be applied for once. In addition, the applicant’s financial situation is carefully examined. In addition, you have to prove your purchases. So you can’t use the money for other things but really have to buy something for the baby. This should be considered carefully before contacting an appropriate institution and asking for financial help.