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It is safer to get an expert to apply for a Baby Waiting Loan

In February 2019, 7 family protection measures were announced, in connection with which I have already written about extending the 3% interest-subsidized loan to second-hand homes, and now the village CSOK has a 10 million baby loan (woman loan, interest free loan for young families). I will show you how to get 10 million free subsidies out of a $ 10 million interest-free loan for just one more child.

There are many pitfalls in applying for a $ 10 million baby loan option, and there are many benefits for young families, so you might want to discuss your goals with a financial expert. I will write about when, where, how to apply . Finally, I present the most important application terms for the relevant government decree .

How much easier it is to apply for a loan through an intermediary

How much easier it is to apply for a loan through an intermediary

Let’s tailor it to goals: Typically, the possibility of such a $ 10 million interest-free loan – which the Treasury will give away at birth when 3 children are born – also offers the opportunity to rethink 5-10 year plans . In such cases, it is worth considering possible loans and other subsidies that may be available to help young families achieve their goals with the best financial means.

It may be worthwhile to repay an existing high interest loan, but it is also worth considering, for example, that in case of the birth of a second child the family is entitled to a prepayment of 4 million, in case of the third birth, it is worth considering ahead of time that there should be a mortgage at birth.

Applications will be accepted by some banks


Timing : Applications will be accepted by some banks prior to the entry into force of the regulation on 01.07.2019, but unless time is rushed, for example, due to the expected birth of the baby, you should not make the choice. Banks’ expectations and processes are still in the making, and according to some rumors, some banks may even offer extra credit discount if they need it.

Given that the loan will be interest-free and will become permanent, the first newborn child will be born within 5 years. So, if you know you want at least one more child and have no biological impediment, it is a good idea to get a loan soon, since investing in anything will benefit you and it will have no interest cost. Anyone who only holds the money in their bank account is not worth the money before their goals, due to the 0.5% guarantee fee.

And if someone has a fresh relationship or is unsure about having a baby together, it may be worth the wait, as they will have 3 years to claim. Anyone who is denied or does not receive the maximum amount (and does not claim the lower amount) may apply again at a later date or in another bank.

Applying for a loan to a bank 

Applying for a loan to a bank 

Your bank will judge your creditworthiness within 10 days, but how? Because of the nature of the loan, you do not need real estate collateral, so based on my prior bank consultation, you will probably consider loans similar to a personal loan. When considering personal loans and mortgages, many banks judge the same income in different ways.

For indefinite employee incomes with a reference, there is essentially no difference, but I made a table for accepting common other incomes (and within that, different banks accept incomes to varying degrees and have different documentation requirements over time).

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