Solutions for Housing Loans (KPR)
A house or residence is the primary need of every human being. The classic problem faced by Indonesian society is expensive housing prices. One of the bank’s solutions is mortgage products.
KPR allows, houses that cost hundreds of millions (even billions), can be repaid in several years. Usually mortgage products in banks offer housing installments of 10-15 years. Some banks even offer installments of up to 20 years.
The mortgage scheme (KPR) turned out to have obstacles in the down payment. Government through Circular Letter No. 15/40 / DKMP dated September 24, 2013, requiring prospective home buyers to have a minimum down payment of 30% of the house price. Say the price of a house is Rp. 1,000,000,000, so the minimum down payment that must be prepared is Rp. 300,000,000. The 30% down payment policy turned out to be burdensome for some prospective buyers.
Some prospective buyers are trying to find a solution using other loans: parent loans, peer loans or Unsecured Loans (KTA) . Unconsciously, these additional loans become a burden for prospective buyers. It could be that the debt repayment ratio reaches more than 30% of income. What solutions can prospective buyers take, in order to prepare a down payment and buy a house?
What is In-House Credit?
One alternative solution that can be used by prospective buyers is to use in-house credit. In-house credit is the offer of housing developers or developers, who provide easy down payment.
Usually the in-house credit offer provided by the developer is an advance payment. Yes, you don’t hear wrong: the down payment for the house can now be paid in installments. Usually new houses or apartments. If you don’t believe it, just try to go to a new residential area. You will see banners that offer installments 10 times, 15 times and even more than 20 installments.
The in-house credit financing scheme is also simple, prospective buyers only need discussions with developers. Because the in-house credit process is not through the bank, the procedure is usually not too complicated and the processing time is shorter. If you are interested in In-House credit, you can simply provide interest tags or the cool term booking fee .
Examples of in-house credit schemes:
The price of a house is IDR 1,000,000,000 and a down payment of IDR 300,000,000
Payment 1: sign up to IDR 5,000,000 and ½ down payment of IDR 150,000,000
Payment of 2 – 20 = 150,000,000 / 20 = 7,500,000 per month.
The example above is one of the in-house credit schemes. Every developer or developer can have different in-house credit offers. So before you decide to use in-house credit, make sure you are familiar with the offer and scheme. One of the advantages of the in-house credit scheme is that prospective buyers are not charged interest, survey fees, appraisal fees and other fees.
How Do You Work In-House Loans?
In-house home loan offers can be considered as part of marketing. Developers or developers usually offer in-house home loans as a sweetener in brochures, banners or banners . Of course people get the benefit of in-house home loans, because of the ease in paying down payments.
Unfortunately this offer does not apply to all houses. Generally developers only provide limited in-house home loans. For example, out of 150 housing units that are marketed, maybe only 10-20 units can be paid in installments.
As mentioned above, each developer has a different program. There are developers who offer down payment installments 10 times, 15 times, 20 times and even 36 times. The handover of the house will be carried out if the installment payment has reached 80% of the total down payment or according to the agreement. You can read the terms and conditions that apply to the Pre-Sale and Purchase Agreement (PPJB) document.
We recommend that you read and fully understand the rules of the game written in the Pre-Sale and Purchase Agreement (PPJB) document. Many of the cases, the individuals who cheat the developer no prospective buyers. In order for you to avoid fraud, you should read and understand the Pre-Sale and Purchase Agreement (PPJB) document.
In the PPJB document, there will be a statement of installments on the down payment, the amount of the booking fee , the amount to be paid each period, how long the payment period is, the time of handover, sanctions and penalties if there is a delay or violation. If the down payment has been paid off, the Pre-sale and Purchase Agreement (PPJB) document will be changed to become a Sale and Purchase Act (AJB). Documents for Sale and Purchase Deed (AJB) are legal evidence to transfer land and building rights. Of course the AJB document is authorized by a notary in front of the developer representatives and prospective home buyers.
Buying a Home, Now Becoming Easier
With in-house loans, now buying a home is much easier. You can start planning a home purchase, by utilizing an in-house loan, investment or mortgage scheme (mortgage). Good luck.
Have you ever used in-house credit for home installments?