A marriage loan can basically always be applied for. To do this, it is important that the creditworthiness is present. If you have no job and therefore no income, it will be very difficult to apply for a loan in marriage.
How can I apply for a loan?
Theoretically, the loan can be applied for from any bank. It is always important to have different documents that the bank will check so that a loan application can be approved or not. Proof of income is included in the documents. The salary must exceed the seizure allowance for the loan to be secured. If a salary is not enough for this, the spouse can also secure the loan with his salary.
It is not always imperative that both spouses sign the loan agreement.
The bank only requires this if a salary is too low and the credit default risk becomes too high. Only then is a guarantor required. However, this does not automatically have to be the spouse, it can also be a friend or acquaintance. It is only important that the guarantor is solvent and can pay off the installments.
What conditions are awarded?
Banks always decide on the creditworthiness of how the conditions will turn out. The interest rates are always correct according to the type of credit and the creditworthiness of the applicant. The better the credit rating, the faster a bank will pay low interest rates.
This is mainly because they want to reward customers. Those who demonstrate poor creditworthiness will also have a higher default rate. Banks don’t want to risk that and then automatically raise interest rates. So not everyone who thinks they can easily get a loan will actually take out one.
What should be considered?
If a loan is to be taken out in marriage and there is enough money to repay a loan, then a loan comparison should be made. Nobody with a good credit rating has to use their own bank. Supply and demand – this is the only way to create competition and different offers. The interest rates therefore vary from bank to bank. If these are compared, a cheap bank can be found where a loan can be taken out in marriage.