Loan despite negative Credit bureau and education

Are you looking for a loan despite a negative Credit bureau in training? Then we have put together an overview for you of which credit opportunities exist and which loan offers are unsuitable.

Credit despite negative education and training – what’s not possible?

Credit despite negative education and training - what

If trainees are looking for a loan without Credit bureau, the negative Credit bureau entry is often due to a cell phone contract. The bill was finally paid, only the Credit bureau entry remained. Actually the best conditions for getting a loan from a foreign bank. Unfortunately, it’s not quite that simple.

A loan for trainees as a loan without Credit bureau from a foreign bank is definitely impossible. A look at advertising promises a lot. Even advertising with no credit rating or no income is mentioned. The fact is, only a credit bank currently offers the loan without Credit bureau legally in Germany. It requires an unlimited employment relationship and, for single people, a net work income of at least 1,130 USD.

A trainee cannot meet both requirements. The training contract is always limited in time and ends with the successfully passed examination. An ordinary trainee earns less than half of the required income.

Which government credit options are opening up?

Which government credit options are opening up?

When it comes to the question of which loan can be possible despite a negative education and training, the purpose is decisive. If the loan is required as part of the training, an educational loan from the Federal Administrative Office can be applied for. The negative Credit bureau alone is not a reason for rejecting the state educational loan. Only insolvency proceedings (private bankruptcy for debt relief) must not have been initiated.

The educational loan would, for example, be eligible for professional goals, such as beauticians or educators. However, not every profession is equally funded from the outset by the educational loan. For training as a beautician – you can receive funding right from the start. Vocational training as an educator – only from the 13th month.

Credit opportunities despite Credit bureau in training – no purpose limitation

Credit opportunities despite Credit bureau in training - no purpose limitation

Ordinary training salary hardly enables you to actually repay a loan. The existing negative Credit bureau entry is the best proof that the ability to repay is only very limited with the training salary. Nevertheless, trainees still want to find a way to implement wishes in this situation. A typical example is the vacation trip.

The trip could be paid for with the additional vacation allowance. Unfortunately, this money is only paid out after the holiday has been settled. If you still want to go on vacation with this money, you can ask for an advance at the payroll office. As a rule, trainees are granted such a credit despite a negative Credit bureau in their training.

Another loan option is usually the loan from private donors. With the training salary, however, access to the large portals is already questionable in the event of a negative Credit bureau entry. The currently largest provider is best bank. In order to be able to publish a loan request on the portal, however, at least a scoring value of H is required.

With a normal income, this scoring value can be achieved despite having completed a Credit bureau entry. For the loan, despite the negative Credit bureau in training, it is very questionable whether the value will be reached.

How much to borrow with a salary of 2000 dollars?

A borrower can devote up to 660 dollars each month to repay monthly payments as part of a real estate project.

The amount of salary is important in a mortgage loan application because it will determine the feasibility of financing. The bank will be able to calculate the borrower’s debt based on the threshold of 33% of the amount of income.

Borrow with 2000 dollars net of salary

bank

In other words, a borrower receiving a monthly net salary of 2000 dollars can repay up to 660 dollars in monthly payments. This limit is applied as well for a single credit as for several at the same time, the totality of the installments must not exceed this amount.

If a borrower wishes to obtain a mortgage, the bank will, therefore, take into account the existing monthly payments to estimate its capacity to borrow. If the latter has no outstanding credit, he can devote up to a total of 660 dollars to repaying a mortgage.

Obviously, it is not only a question of having a salary of 2,000 dollars net to obtain a mortgage. Certain requirements must also be met, such as the nature of the contract, which must be a permanent contract or an equivalent position such as that of a permanent official.

The bank will also study the statements of accounts to define the expenses of the household and estimate the remainder to live, it is the remaining sum on the account after deduction of all the recurrent expenses. This allows us to give a favorable opinion or not to the request for a mortgage.

Table of gross sums with 2000 dollars of wages

Table of gross sums with 2000 dollars of wages

Here are the gross amounts, without taking into account the fees and interest rates, that a borrower can obtain with a maximum debt of 33% and without outstanding loans:

  • 5 years (60 months): $ 39,600
  • 10 years (120 months): $ 79,200
  • 12 years (144 months): $ 95,040
  • 15 years (180 months): $ 118,800
  • 20 years (240 months): $ 158,400
  • 25 years (300 months): $ 198,000
  • 30 years (360 months): $ 237,600
  • 35 years (420 months): $ 277,200

Simulate the mortgage with an income of 2000 dollars

Simulate the mortgage with an income of 2000 dollars

If the ability to borrow makes it possible to give an indication of the amount that can be obtained taking into account his personal and professional situation, the latter does not take into account the interest requested by the bank or the costs of setting up the home loan.

It is therefore important to simulate a mortgage request by providing all the necessary details about your project and its situation, this allows you to quickly obtain a financing estimate and take account of the conditions of the banks. It will be possible to obtain a proposal with the interest rate (APR), the repayment duration and the final monthly payment.

It is also important to note that most financing proposals do not take into account borrower insurance, optional but essential cover to obtain the release of funds from the bank. All these elements will be estimated in the online simulation, which is mostly free and without any commitment.