Existing child is not a barrier to a baby loan
We have received a lot of inquiries about whether existing children are an obstacle to taking out a baby loan. The answer is no. But unfortunately, they don’t even count on having children.
Applying for a baby loan doesn’t matter to your existing child
There are basically three situations when it comes to baby support.
There are no children and the wife is not pregnant.
The wife is pregnant.
You already have an existing child.
In the first case, of course, there is no existing child, so there is no need to deal with it.
In the second case, the child must be born after applying for a baby loan. If you are born before applying for a loan, it will not count toward supported children.
Guarantee interest-free and does not reduce the outstanding debt
So it does not guarantee interest-free and does not reduce the outstanding debt. In the third case, existing children do not count on baby loans, however many there are.
If the children are born out of the marriage of the claimants, they should not be an obstacle to obtaining credit. If, on the other hand, they were born in another marriage, only one of the claimants may have children and the other spouse must live in the first marriage. However, already born children can be included in the, we read more about it here.
If we meet the conditions and the credit is positive
It is also important to clarify that there is no need to “have a baby” with a baby loan, so you do not have to tell in advance how many of our children will be born. If we meet the conditions and the credit is positive, we can borrow.
As many of you have asked similar questions about Baby Waiting Support, we are launching our Baby Waiting Series as well as our calculator. Based on the specific questions we received, we put together a “model couple” to showcase the options available for baby loans and other government grants.