Applying for a Home Ownership Credit (KPR) is one step for those who want to buy a house. KPR is one of the solutions to realizing your dream residence with various attractive offers. KPR is currently available at many banks in Indonesia, so you can choose the best mortgage offer that suits your needs.
Applying for a mortgage can indeed be done by many people. But to make the mortgage application pass and be accepted by the bank is not easy, and not all of you get this opportunity. For this reason, you must learn the following tips on passing a mortgage loan so that your aspirations to buy a dream home will soon come true.
Here are some tips so that your KPR application is passed and accepted by the bank:
1. It is mandatory to choose a trustworthy developer
Not only building and recommending the house you will have, but the developer is also fully responsible for taking care of all the administration and essential documents related to the house you choose. For this reason, if the developer cannot be responsible for all of his work, it will undoubtedly hurt you.
The reason is that of all the failures of these developers; you are obliged to pay the mortgage installments you bought from the bank. For that, you must choose the best developer so it doesn't harm you in the future. Generally, many banks have provided developers who work with mortgage provider banks. You can count on these advantages because your mortgage application will go smoother.
2. Choose a dream home that fits your income
The way for the KPR bank to qualify and be accepted by others is to buy a house according to the income you receive each month. Because the bank will assume that the house you choose is ideal for your income if the mortgage on the house is no more than a third of your total settlement each month. For this reason, you must choose a dream home that fits your income.
But for those who already have a partner or are married, you can apply for a much larger financing limit. This can happen because you can use the shared income scheme that you get with your partner.
3. Avoid debt or credit that is still piling up
One of the other tips for running away from a mortgage is ongoing debt and credit. It's a good idea for those of you who have a lot of credit bills and payments to pay off all these bills immediately before applying for a mortgage from the bank.
Not only for reasons of increasing debt, in the process of applying for a mortgage, there is also a BI Checking, which will later conduct an in-depth review of your financial condition. For this reason, to expedite the mortgage process, you must pay off at least a large portion of your credit bills so that your financial records are clean and safe.
In BI Checking itself, several categories are used to assess the feasibility of your current financial condition. This category is commonly known as the bank credit collectability scale in which there are:
a. Current/Collection 1
The best collectability scale in terms of performance is smooth. Current or Kolek 1, is a scale applied to someone with a credit history who repays both principal and interest on time every month. Or, for those who always pay credit bills before the due date, you can also be categorized as a collector scale one or smooth.
b. Under Special Attention/Collection 2
The next financial collectability scale that is quite good in terms of other performance is DPK or special mention. DPK or Kolek 2 is a collectability scale for someone with a history of late payment of bills or credit beyond the specified due date of at least 90 days from the date of maturity
Bills in arrears can also be in the form of principal or credit interest bills. In addition, DPK status will be pinned, not just late bill payments. There is a smooth financial cash flow factor that indicates the ability to pay bills, but the bills remain unpaid within a maximum period of 90 days after they are due.
c. Substandard/Collection 3
The substandard collectability scale is an advanced status of the previous collectability scale or collectability 2. Where previously it happened if you were in arrears for 90 days, collectability 3 or substandard can occur if you make arrears for at least 120 days from the due date of the bill.
By setting this Col 3 or substandard status, you will also get a first warning letter (SP) from the bank, where later, an accrual calculation of the principal arrears and ongoing interest from the bill will appear.
Apart from that, arrears of ongoing penalties, arrears in bookkeeping administration, and many other arrears will be included in factoring. However, those of you who have col 3 status can also carry out restructuring if you still have the ability to pay obligations.
d. Doubtful
Doubtful is a collectability status attached to any creditor in arrears of bills, both principal and interest, for at least 120 to 180 days. Doubt itself is usually called Collapse 4.
With this status, the bank will indirectly assume that the principal installments and credit interest have not been paid and will take further action by selling or auctioning the collateral.
e. Congested
The collectability scale with the worst performance is the default status or 5. The reason is that if you get the five-collect status, you will be included in the NPL (Non-performing loan) class. The NPL category applies to anyone with outstanding payments more than 180 days from the due date.
The status that is often referred to as bad credit will also apply if the credit has received 3 warning letters from the due date. With this warning letter, the bank has the right to settle problem loans by auctioning collateral to cover all credit risks.
4. Prepare all requirements and documents completely
Several administrative requirements are needed in applying for mortgages at all banks, from general requirements to document requirements that you must complete. Here are some of the requirements that you must complete so that your mortgage can be approved and passed:
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KTP and KK
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Marriage Book (for those who are married)
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Bank statements for the last 3 months
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Salary slips for the last 3 months
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Taxpayer Identification Number (NPWP) for loans above IDR 100 million
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Personal income tax returns for loans above IDR 50 million
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Certificate of employment (permanent employee with a minimum of 1 year working period)
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Copies of main and or fractional certificates can buy houses from developers
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Copy of certificate if buying and selling Copy of Building Permit (IMB) individually
5. Provide a Down Payment
Another tip for passing a mortgage that you can do is to prepare a down payment according to the bank's calculations. It would be best if you prepared at least 10% - 15% of the house's total value to be purchased, according to the respective bank.
Apply for a Home Ownership Loan at Bank MAS!
Those were some tips so that your mortgage is approved and passed at the bank. You can apply for a Home Ownership Loan with Bank MAS with specific requirements.
For those who already understand how to get a mortgage approved, remember to maintain your financial health with careful planning.
It is essential to do so that your mortgage installments are not at risk and avoid bad credit that can occur. Let's manage your financial plan with MAS Mobile!