Are you already married? If you had a family must have the demands for a dwelling would be greater than when you are single. When deciding to buy a house, each person must have a somewhat different considerations; there who want to have a beautiful home, beautiful, comfortable and of course the location is within the city, not far from the place of work or activity. There is also looking to purchase a beautiful home, beautiful, and located somewhat outside of urban areas so they can get a pristine condition.
Every choice has consequences of each, if you want to shelter in his home town certainly more expensive than the price of homes that were sidelines or outside the city. As for the sidelines or buy a home outside the city, must pay more for transportation back and forth from home to work place. The illustration above I write to begin this article. Wherever you choose the home that you should be calculated carefully taking into account your financial capabilities.
When the time comes for you to buy a house, a lot of things that should be considered. Some of these include: location, facilities, housing prices, and home financing schemes.On this occasion, we will discuss about the buying a home financing scheme. This is because we discussed this financing issue is the determinant of a variety of other considerations. This financing problem that will affect where the home will be purchased, how wide, what kind of condition, how the facilities offered housing, etc.
There are a variety of financing schemes in buying a house, namely the hard cash, cash gradually (usually s / d 5x installment), taking advantage of mortgage facilities from banks, or directly installments kepihak developers who build housing area. From some this financing scheme, the most widely used is using mortgage facilities from banks. Home financing scheme with mortgage facilities are widely used due to consider the ability of home buyers financially, the need for a fixed monthly, term loans, etc..
For those of you who would buy a house by using mortgage facilities from banks, you should look for to know everything, or the ins and outs of home financing process with a mortgage facility. Due to lack of knowledge of this mortgage facility will potentially make problem for you in the future, these problems can arise because of a lack of understanding with the provisions or the legality of bank mortgage providers, or it could be from the home seller / developer of the house, and from the property agents .
Here are some tips that should be considered for those of you who will buy the property (house and land) to take advantage of mortgage facilities from banks:
Interest rate
In the process to obtain mortgage, make sure you understand exactly how much the interest rate charged on a home or property you will buy. The amount of interest will determine the size of the installments to be paid. In order to obtain a light installment, look for low interest rates. Notice also the types of interest are offered. There are banks that offer low interest only at first alone, perhaps for 6 months or a year.
For that, choose a bank that offers interest rates low enough and in a longer period. Note, however, also other things besides interest rates. If you need to ask your bank account officer concerned, the interest rate applicable whether float or fixed rate.
Advance
When you will buy a house with a mortgage facility, usually the bank will not finance 100% of the price of the house. Banks will only finance 70 to 80% of house prices which would you buy, so you have to prepare 20 to 30% of the rest. Advances of 20 to 30% is usually deposited into your house to the seller or developer, most developers give you the freedom to repay this advance. The size of the down payment will affect your loan ceiling and of course monthly installment (and bank interest) that you will pay each month until your mortgage is paid off.
The smaller the down payment that you are prepared, the greater the loan ceiling that you submit to the bank. The larger the loan ceiling that you submit the greater the interest and repayment period. Vice versa, the larger the down payment loans from the bank’s ceiling then you need less. The smaller the ceiling on loan from the bank, the more light the faster the monthly payments and repayment of time. This is commonly referred to as: the art of compounding interest.
Financial Capability
When will apply for mortgage, you should first consider and calculate how much your financial capabilities. You can record how much income you and your partner from the monthly salary, how much you and your partner’s income from sources other than salaries (results of other businesses), if you have a credit card, your credit card limit how many, how much the cost of your monthly expenditure, whether you are repaying a vehicle, how much the cost of your child’s education (if you already have children), is there insurance for your child’s education, health insurance is there for you and your child, and so on. Data of all the details of your monthly expenses, compare it with the source fixed and variable income.
From the comparison between the source of your income and expenses, will be obtained or what the typical monthly balance. The excess funds that you will later use to pay your mortgage that will be purchased through housing loan facility. Make sure your ability to pay is safe enough to cover the monthly installment + interest, establish your ability to pay at least 120% of the monthly installment you pay. If the difference in your monthly balance is still quite large, you can apply for mortgages with shorter durations, but if you limited ability to pay should you file a mortgage with a longer time period. If you have sufficient funds, to alleviate monthly payments, you can increase your down payment, so the smaller your mortgage ceiling, and the monthly installments including interest to be paid is also lighter.
Status Property (Land and Building)
When you apply to buy a house with a mortgage facility from the bank, you should make sure in advance how the status of land and house. Almost all banks will only approve your request if the status of the land and his house was certified (SHM or SHGB). This must especially if you consider buying from individual sellers, while if you buy from the developer of the land status is usually not problematic. Because every developer who filed the working capital loans to build housing units (construction loans or kpr indent), the bank had asked the legality of the land to be managed including the legality of the other (Fatwas land, IMB, IPL, permit locations, siteplan Permit, Permit land tomb, Peil flood, etc.).
If the status of land and buildings which would you buy has not been certified (still a Girik, etc.) you should consult with the account officer, financial advisor or may consult with the leaders of the bank, maybe they have a solution or other schemes that can be tried, for example, costs more provisions big, bigger insurance costs, additional insurance, or no additional cost to increase the status of land and buildings. If the bank does not have a scheme for pay your mortgage because of the legality of the property which would you buy, ask the seller (seller primarily individuals who are not legal entities) to enhance the status of properties. If the land + house already in the process of improving the SHM or SHGB, ask for the cover note from the notary to convince the bank so that your mortgage application can be processed.
Illustrations and Payment Scheme
When you apply for a mortgage, pay your ability to adjust the period of repayment of its mortgage loans. Monthly installments + interest will be smaller if the longer repayment period. Monthly installments + interest will be different for a period of 5, 10, or 15 years.Ask illustration monthly installment payments + interest to the account officer of the bank where you filed mortgages.
If you buy a house from a developer who incorporated the business or legal entity (CV and PT), usually they make such a tabulation of the different schemes. In these tabulations will you see the amount of monthly installment + interest tailored to the type of house would you buy, land area, amount of down payment, and duration of your mortgage repayment. From the tabulation of you, you can customize the type of house would you buy, the amount of down payment and the length of time your mortgage repayment.
Settlement Process
Most people who apply for credit (transactional, consumptive, KMK, construction loans, or mortgages) to installment loans can be completed and the debt is paid off. If you have the same intentions, ask the bank what is the procedure if the accelerated payments? Can pay some money to reduce your mortgage debt principal. There are banks that wore a penalty if payment is accelerated, or you can speed up the mortgage loan payment after such time. There is also already set the amount of installment + interest every month, so when you want to speed then you have to pay according to the amount of installment + interest multiplied by how many tens of months remaining repayment period of your loan.
Choose the most flexible repayment scheme to make payment, collect payment scheme of all the bank if necessary. You could consider the mortgage facilities from banks or Islamic banks conventional, comparative interest rates, payment schemes / returns, and select the most minor of your own.
Other Costs
When you file a mortgage to the bank, you should set aside a certain amount out of the deposit. The bank will charge various fees to customers who will receive the mortgage.Costs include: the cost of provision, insurance costs, administrative costs, the cost of binding the notaries, and other expenses. If you buy a used house, maybe there are additional costs such as costs behind the name / BPHTB, unplug the cost of the file, etc.
Based on my experience when applying for various schemes in bank credit (working capital loans, construction loans and credit transactional), these costs are different from each bank. As a potential customer, would be more ease if you choose a bank with the lowest cost. Try to bargain for these costs, because there are components that are sebenanrnya still negotiable, for example the cost of provision.
Receipt
When you submit a certificate (SHM, SHGB) you to the bank, contact the account officer or legal officer, they are your proof of delivery certificate. Since each bank can be a different policy. There are banks that provide direct proof of the handover of security, but some are giving it after the binding process at the notary. Ask the legal accounts officer or their officers, is there a procedure or SOP that requires them to make a letter of guarantee receipt or not. If that procedure exists, you should ask if you should’ve known close to the account officer or legal officer.
Thus an article that discusses the process of filing mortgage to buy your home. Using the services of the bank to buy a house with a mortgage facility that they provide is a wise way to buy a house, given house prices and land increasingly expensive today. Be a good customer if you are using mortgage facilities from banks, try to always meet your obligations, do not let your home loan bad credit installment, because the bank did not want their clients in trouble.
One moment you may be applying for credit for other needs, do not let your credit application was rejected because of problems at the time of checking black list bsnk. Congratulations filed mortgages and new homes hopefully you become a comfortable home for your entire family.
