Mortgages or Home Ownership Loans are financing products generally issued by banks to buy houses. Buying a home is one of the most important financial goals for someone. According to a financial planner named Suzzie Osman, someone will feel calm financially and mentally if they already have a home.
How much is the price of a house now
Of course house prices vary, according to location, access, supporting facilities and so on. Suppose we just assume that Mr. Naldo wants to buy a house with a land area of 100 m2 and a building area of 150 m2 at a price of Rp.1,000,000,000. If at present Pak Naldo only has money of Rp.400,000,000, can the Rp.1,000,000,000 house be bought?
The answer is very possible with the help of mortgage (mortgage). How to? Mr. Naldo needs to come to the bank, apply for a mortgage loan (KPR), fill out documents and complete the conditions. After that, if the KPR (House Ownership Credit) is approved by the bank, Mr. Naldo pays a down payment (down payment – DP) and the rest is paid in installments. Remember in financial planning, ideally the maximum installment is 30% of the total income (income after tax deductions and this discount is from the company).
Maximum installment of 30% Net Income.
Get to know 3 types of mortgages (home ownership loans)
It turns out that KPR (Ownership Credit) itself has several product variants, such as subsidized mortgages, non-subsidized mortgages and Shera mortgages. So what is the difference between each type of mortgage?
In general, what is called subsidized goods are goods / services intended for disadvantaged people. Well, usually this subsidized mortgage is used to buy a new home or renovate a house. What is subsidized? The subsidies provided are credit relief or additional funds for home renovation or construction of houses.
Mortgages (Housing Loans) subsidies are regulated by the government and not everyone may use this facility. More or less the same as Raskin rice, not everyone can buy Raskin rice. The maximum that can be submitted is equal to the income of the applicant (the person applying for the mortgage).
Well this type of mortgage is often on the market. This Home Ownership Loan (KPR) can be submitted for houses, apartments, shop houses, houses and other types of property. The rules of the KPR (House Ownership Credit) such as the amount of credit interest, down payment, processing fees, the method of calculation is adjusted to each bank.
Seiring development of Islamic financial products in Indonesia, mortgage products (mortgage loans) also experienced growth. Currently there is a Shera KPR. The difference is that Shera KPR uses the principle of Murabahah contract (buying and selling).
The principle of Murahabah is that Islamic banks first buy houses and sell them to customers. The selling price is the house acquisition price + the profit margin agreed by the Shera bank and the customer.
What is the next step, so take a mortgage (mortgage)?
Of course there are many things that need to be considered before taking a mortgage (mortgage). Winzton Will will discuss:
- Advantages and Disadvantages of Mortgages (Home Ownership Loans).
- What are the general terms of mortgage (mortgage).
- How to calculate mortgage interest (mortgage).
- The cost of the KPR (House Ownership Credit) process.
- Things that need to be considered when applying for a mortgage (mortgage).
Each of these topics will be discussed in a different article. So keep reading Winzton Will, and improve your financial intelligence, friend Winzton Will.