Accessing a loan while unemployed is complicated if we opt for the bank financing option. The banks study the risk of delinquency of each of the clients that enter through the door, being one of the essential requirements to be able to access one of their loans to have an active employment contract. Of course, much better if that contract is indefinite.
For that reason, if we are not working and our income corresponds to an unemployment benefit, it will be very complex to access a credit while unemployed.
Lenders.es can give you a credit while unemployed even appearing on a list of delinquents such as credit institutions.
Credit while unemployed
Astro Finance has more than 6 years of experience in opening financing lines through private lenders.
This type of financing is perfect if you want to access a loan while unemployed: the access requirements are much less demanding compared to a bankHowever, Astro Finance does require certain requirements from each of the applicants who contact us. These requirements can be summarized in two.
Requirements to access a credit while unemployed
You must have a real estate property without mortgage charges and totally debt free and the loan application must be for $ 20,000 or more.
These two conditions allow us to offer maximum security to the lender who leaves his money while keeping the interest rate in a very attractive range and covering all the fixed costs inherent in opening a financing path through a credit while unemployed.
Have a real estate property
It can be any type of real estate property: a flat, an apartment, a commercial premises, an industrial warehouse… We just need a simple note from the Land Registry that shows that the applicant is the owner of that property.
We will carry out an appraisal independently to determine the market value of the property and that market value will be used to mark the maximum amount that the credit may have while unemployed: at most 30% of the determined value.
If the property is subject to debts we can extend the initial amount of the loan to settle those debts and thus be able to use the property as collateral.
Minimum credit of $ 20,000
This amount allows us to keep the interest rate in a very competitive range (between 9% and 12%) in addition to covering all fixed expenses associated with the study and opening of credit.
Credit while in safe and secure unemployment
In Astro Finance we sign all our credits being unemployed before the notary of the city of Spain that the applicant chooses : it will be a representative of Astro Finance who moves to the firm. In this way all our loans meet the legal requirements set by the regulations.