How to Apply for a Second/Used Home Mortgage

How to Apply for a Second/Used Home Mortgage

Requirements for Submitting a Used/Second Home KPR

For some people, buying a used or used home can be an alternative to housing. There are many reasons why you choose a home second. For example, do not find a new house that is close to work, do not find a new house with a suitable budget, or do not find a new house whose design is not to your liking. But the problem is that if new houses can use mortgage products for financing, are used houses also facilitated to use mortgages in the financing process? It turns out the answer is yes. Many banks provide home mortgage products that can be used.

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Steps to apply for a used home mortgage

How to buy a used house through a bank is not difficult, nor is it very different from a new house. There are several KPR procedures for a used home that you must follow to purchase a used home with a KPR, namely:

  1. Looking for information from the intended bank
  2. Complete the required documents
  3. Assessment from the bank
  4. Calculation of credit costs and other costs (for example, supply fees and mortgage costs of about 10% of the total mortgage funds disbursed by the bank)
  5. Signing a credit agreement

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Home mortgage application documents Second

  1. KK and identity card
  2. NPWP
  3. Marriage certificate
  4. Salary payments for the last 3 months
  5. Labor certificate
  6. Savings account statements for the last 3 months
  7. Photocopy of the certificate of the house you want to buy
  8. Copy of IMB for the house you want to buy
  9. Photocopy of the most recent PBB payment for the house you want to buy
  10. A purchase-sale agreement signed on the stamp by the seller and the buyer of the house
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In the application for this type of mortgage, there are several steps, namely the evaluation process. This process is when the bank investigates the second home that you offer, then estimates the price of the house second him Usually, this estimated price is lower than the selling price given to us by the seller.

It is important to remember that for home loans second, the bank also does not disburse 100% of the funds for us, usually the funds issued by the bank are only about 70-80% of the estimated price of a used house according to the bank. Therefore, you still have to pay the DP for a used home mortgage directly to the bank, because there is actually no demand for a mortgage without DP.

Also check: List of Houses for Sale in Cilegon

Requirements for Submitting a Used Home Mortgage

  1. Indonesian citizens
  2. Permanent officer with a minimum of 2 years of work
  3. The minimum age is 21 years and at the time of payment maturity, the maximum age is 55 years
  4. Never been blacklisted by BI / Passed BI Checking

Also check: List of Houses for Sale in Milling, East Jakarta

Advantages of buying used homes

It turns out that even buying a used house has its advantages, you know! Here are some of them:

  • Prices are relatively cheaper
  • Prices can always be negotiated with the seller
  • Immediately habitable
  • The letters are complete
  • The surroundings are usually animated and formed

Also read: Check out the 10 lowest bank mortgage rates in 2023

Tips for buying a used home

Here are some tips that can be considered before buying a used home:

  • Pay attention to every detail of the building
  • Find out the legal status of the building
  • Make sure the documents are complete
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