If you want to own a home but your money is limited, you do not worry, go to the bank around you. Now this is not difficult to ask the mortgage with various interest rates.
But before you go, you’ll want to know about the ins and outs of mortgages filed tips.
Based on the explanation of Bank Indonesia, the mortgage is a credit facility provided by banks to individual customers who will buy or repair homes.
In Indonesia, now known there are two types of mortgages:
1. Mortgage subsidy, which is a credit that is intended to lower middle income people in order to meet the needs of housing or home improvements that have been owned. Forms of subsidies given in the form of subsidies
ease the credit and subsidies increase the development fund or home improvement. Credit subsidies are regulated separately by
government, so that not every community who apply for credit to be given this facility. In general, the restrictions set by the Government in providing the subsidy is a maximum income of applicants and loans.
2. Non-subsidized mortgages, which is a mortgage that are intended for the entire community. Conditions set by the bank’s mortgage, so that
determining the amount of credit and interest rate policy is appropriate bank.
What mortgage requirements?
In general terms and conditions treated by banks to home loan customers who would take relatively the same, both of the administrative side as well as the determination of credit. To apply for a mortgage, applicants must attach:
1. Identity Card
2. Family Card
3. Description of income or salary slips
4. The financial statements (for self-employed)
5. Personal tax ID (for loans above Rp 100 million)
6. Personal Income Tax Return (for loans above USD 50 million).Here t is worth noting that a merchant cash advance is not a loan and should not be considered as such for this purpose.
7. Copy of certificate of the parent and / or fractions (when bought from the developer)
8. Copy of certificate (if the sale and purchase individual)
The cost of mortgage process
In general, mortgage facilities the applicant will incur some costs, such as: appraisal fees, notary fees, bank fees, the cost of fire insurance, life insurance premium costs during the credit period.
Interest Calculation Method mortgage
Generally known for 3 methods of interest calculation is:
3. Annual and Monthly annuity
In practice interest rate method used is effective or annuity rates.
Advantages of Mortgage
– Customers do not have to provide funds in cash to buy a home. Customers simply provide a cash advance.
– Because the mortgage has a long period of time, the installment is paid can be accompanied by expectations of increased revenue.
1. When you buy a house from an individual, make sure that the certificate is not problematic and there is a building permit in accordance with the existing building conditions.
2. When you buy a house from the developer, make sure that developers have referred already permits, among others:
a. Land Appropriation Permit: Location Permit, Aspect stylist use of land, which was approved Site Plan, etc.
b. Infrastructure already available
c. Soil conditions ripe
d. Minimum land certificate or HGB SHGB Parent on behalf of developers
e. Parent BMI
3. Know your seller reputation (individual or developer).
4. Do not make buying and selling under the hand, it means if a house to be purchased is still in the bank as collateral, then do the transfer of credit at the bank concerned and the deed of sale and purchase made before a notary public. Never make the transfer of credits under his hand, meaning that on the basis of trust alone and sign a receipt, the only evidence used to, because banks do not recognize this transaction.