Do you want your mortgage application to be approved? Follow these 4 Tips!
Do you want your mortgage application to be approved easily? Realizing a dream home is now younger with the presence of the Home Ownership Loan (KPR) program offered by banks. The KPR program allows you to own a house just by preparing a deposit or a deposit of 30% of the total price of the house. Sounds easy, right?
But the fact is that getting a mortgage approval from the bank is not easy. There are many requirements that must be met and the process is quite long. Therefore, before taking a mortgage, it would be good to first know what a mortgage is and pay attention to what you have to prepare. Don’t let your mortgage application get rejected by the bank.
So, how do you get a mortgage application approved by the Bank?
Also read: 3 Benefits of buying a home mortgage
Tips for applying for a Bank Approved Mortgage
1. Complete documents of the requirements
The first tip to get your mortgage application approved by the bank is to complete all the required documents. It may be simple, but if there is a missing document, the bank will reject the mortgage request. Therefore, make sure that the documents you bring to apply for a mortgage are complete. The various documents required include:
- Identity in the form of an identity card
- Family card (KK)
- Marriage book (for those who are married)
- Passport photo (with partner if married)
- Savings account in the last 3 months
- Salary payments for the last 3 months
- Taxpayer Identification Number (NPWP)
- Letter of reference
2. Make sure your credit history is clean
Before approving the home financing, the bank will check your financial records. This examination is called BI Checking or now better known as the Financial Information Service System (SLIK OJK).
The bank will see if you have had problems with credit payments before or not. If the inspection shows that you have a history of late payments or bad credit, it is likely that your mortgage application will be rejected. Therefore, try to settle any outstanding arrears before applying for a mortgage.
3. Choose a House According to Income
The third tip so that your mortgage application is approved by the bank is to choose a house that corresponds to your income. For the application to be approved by the bank, choose a house whose payments do not exceed a third of your salary or income per month. This is because the bank does not want you as a debtor to have difficulty paying the house payments or to get bad credit in the future.
4. Prepare a Sufficient Fund Allocation
The fourth suggestion so that the mortgage application is approved by the bank is to prepare a large amount of funds for a payment (DP) and other costs. Down payment is often one of the mandatory requirements to apply for a mortgage.
Although there are indeed some banks that provide an advance payment requirement of less than 30% of the price of the house, do not let me prepare mediocre funds. Prepare funds to pay other expenses such as appraisal fees, processing fees, provisions, life insurance, fire insurance, APHT and SKMHT, PNBP, and notary fees.
Also read: Find out how to save to buy the right house!
Here are some tips that should be considered so that your mortgage application can be approved by the bank. Another tip is to try to choose developer houses that are already in collaboration with banks that provide mortgage programs. For what? So that your mortgage application process can be faster and smoother.
Make your first home and family come true with Gardens at Candi Sawangan; home of choice for millennial families. There are many types of houses with contemporary modern styles that combine function and aesthetics.
Not only equipped with various suitable facilities, Gardens at Candi Sawangan is also located in a strategic location, easy access and mobility, and surrounded by a beautiful and comfortable environment.
For more information, you can call the following numbers (021) 7470 7959 or 0812 9360 6612 (WA) or you can also visit the official Gardens website here.