Buy their homes through home loans, can be a bond, commitments or agreements receivable debt that may be the biggest and longest ever you decide. Because home prices are expensive the greater the home loan is needed and also the longer the time to return it, usually lasts until between 10 and 15 years of your life.
If we look today at the home loan market has a lot of changes. Home loans that many banks have been supplied from a range of varied offerings to attract people to want to take her home loan products. The fact that there have been changes in the banking world, where many old players who failed and a new player who appears also increasingly add to the atmosphere of a hot competition. With the increasing number of home loan choices are supposed to be more beneficial to our potential customers.
Unfortunately obtain home loans from banks do not become easier from year to year. Fortunately, we do not have to make long queues at the bank to apply for home loans. However, home loan approval process still must go through various stages of the screening process.
The complexity is even continue to grow with a variety of administrative and legalization process that was already one inseparable package with home loans. Not to mention the costs surrounding the purchase of the house following the binding of credit costs, and other administrative costs. No wonder so many people consider getting a home mortgage process is very long and complicated.
However, do not despair, choosing a home mortgage to suit you not as hard as you can imagine, and hope for your home loan application is approved is not impossible, if you run a few basic steps below.
I need a loan to buy a home.
Where should I start? The most important area for the first time you have to analyze is your financial capability. It is no use if you are forced to borrow beyond your ability to return. If you do too, you might end up with your dream home, but suffered financially when from time to time try to meet the obligations of home loan installment payments that are too large, trying his best to meet the needs of everyday household tends to increase every year.
So how do I ensure that I take a home mortgage that will not membayakan my financial condition?
In general, as the banks that provide loans or as the creditors will help you calculate how many mortgage loans that are in the area of your financial ability. When analyzing your ability to borrow, banks usually use 5 factors as considerations in determining how much loan.
Five factors are, your current income, the amount of debt that are running and how much mortgage debt per month, the amount of financing itself, the history of your previous debts, and the sustainability of your income.
By knowing the 5 key factors, it is hoped can help you estimate in advance how much home loan amount you are willing to borrow and that can be approved by your bank.
1. Income
To calculate the maximum loan amount that can be given based on current income, typically a bank using a simple method of doubling the main income plus the second income, commonly known as the method of "three plus one". So the maximum loan amount is "3 times main income per year, plus one to two per year income."
Examples like this if, when the couple filed a home mortgage, where the husband's income of Rp 5 million per month or $ 60 million per year, and the wife's income to Rp 3 million per month or USD 36 million per year, the bank is likely to be able to give a maximum loan to the amount of USD 216 million. But if you're single then that counts is the main income just because do not have a joint income with spouse.
Type being considered by the bank's income varies, but generally regular and guaranteed income or have ever received on a regular basis in the past was the one who counts. Instead of income that is not routinely or occasionally such as overtime pay, most likely will be ignored.
The Bank also will require written evidence that can verify your income and to check the truth is likely to directly ask the company your employer. The requested written evidence of the last paycheck, working long letter, then a copy of your bankbook for 3 months. If you are an entrepreneur, the financial data requested is usually in the form of a photocopy of your savings account or current account at the bank. Then to verify your business is usually also requested a business license data such as TIN, SIUP, TDP, and others.
But with these criteria, what may make, for you who are low income, the amount of bank loans is also small, and the bigger your income, the greater the loan that can be given.
2. Debts or obligations that run
If you currently have a debt that run, with a monthly debt repayment obligations, the bank will automatically reduce the amount of loan can be granted based on your income. This is due to current liabilities was already reducing your ability to take the next loan, also reduces your ability to pay the next monthly installment debt.
Imagine if we already have a mortgage loan today, then combined with mortgage repayments. How much of our income is spent on debt repayments be? If we are too large debt repayments, as a result we will have difficulty paying other household expenses. Banks do not want you to continue to experience liquidity problems during the period of the mortgage payment How much mortgage loan amount will be adjusted will depend on the size of this current amount of debt.
Adjustment is usually done with two approaches - the bank will reduce the number of mortgage loans, or adjust the amount of monthly installments. Limit the maximum total monthly debt repayments a family that is considered safe by the bank amounted to 30% of the total monthly family income. Under the second method, the bank will adjust the amount of home loan repayments, so that when added with the previous debt repayments amount not exceeding the maximum limit earlier. Kesimpulannyanya more and more debt you are running, then the less likely to get new loans from banks or not as big as you want.
3. The amount of self-financing
Regardless of one's income factor, hence the large number of home loans are also adjusted for house prices to be purchased. But in general, banks do not provide 100% loan on house prices, but average about 70% of its course of house prices, the rest should be financed solely by Anda.Pada indeed it is some banks even willing to finance up to 80% to 90% of house prices. Banks are asking prospective borrowers to participate in financing the purchase of his home, which is considered as advances paid to sellers of the house.
These advances should you prepare yourself, so even if you buy a home with a home mortgage, you still have to prepare some cash for the rest of house prices that are not financed by banks. The greater the self-financing capability, the smaller the risk to the bank, so the more likely you are to get home loans. But on the other hand, if the greater number of self-financing in the amount of financing from the smaller bank.
4. History of previous debt
If you ever have a bad history of debt before, then do not be surprised if at this time is more difficult for you to get a bank loan. Once your home loan application received by the bank then the bank will soon find the data in the past history of your debt. Have you ever had a bad mortgage debt elsewhere and was not completed until now, has never dealt with a court case in connection with lending and borrowing. Policies of individual banks differ in assessing and tolerant about the past history of this debt.
If his case is complete and you have said before to the bank before I am asked - or before banks find out for himself, might be an added value for you and increase your confidence to the bank. To be sure, the size of loans will be adjusted by a factor of risk of default that have occurred in the past.
5. Sustainability of your income
Although the habit of moving jobs or companies where the work is understandable, but the bank is more like the prospective borrower with a more stable period of employment with good career advancement. At least the company is now working lives you have more than 2 years and was appointed as permanent employees. Create your entrepreneurship, then the bank would strongly consider how long your business has been running.
The reason is simple because the longer the mean age of the business is going pretty good and more experienced to be able to survive in the future. Minimum 2 years of running the business is considered quite safe by the banks in providing credit to the wirausahana.
Years of service and employment status for your employees, then the length of your efforts are berjala for your employer, are matters to be considered as an indication of the sustainability of the bank of your income in the future, and certainly affect the ability to repay the loans later. Essentially the more terjamian sustainability in the future of your income, then chances are the bank granted loans amounting to what you need even greater.
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