Subsidized Home Ownership Loans (KPR) have been widely used by Low-Income Communities (MBR) to meet their housing needs.
Subsidized housing loans are considered a solution for people with mediocre incomes to have dream house.
The reason is, this home loan financing gets assistance from the government, in the form of relief from down payment costs to interest rates.
Of course, not all elements of society can apply for a subsidized mortgage.
The target of this home ownership loan is the lower middle class, with incomes below IDR 8 million per month.
Even so, the flow of non-subsidized mortgage applications with subsidies is generally not much different. Including the flow of the contract process.
Akad is the last stage in the process of buying a house, either on credit or on credit hard cash.
In the home purchase scheme on credit, the contract procession is carried out after mortgage application approved by the bank.
The procession of subsidized and non-subsidized mortgage contracts must be carried out before a notary at a predetermined time.
Now for those of you who are curious about the process of subsidized home loan contracts, we will present a review in this article.
Come on, see the description to the end!
Pathway to a Subsidized Home Loan Agreement
As mentioned above, the new contract can be done after the mortgage is approved by the bank.
Usually before the contract procession, the bank will send a notification letter of credit approval to the customer.
The letter will include a number of information regarding the approved credit score, the amount of installments to be paid, and the payment period.
Regarding mortgage fees that must be paid – specifically for subsidized housing loans – you only need to pay a provision fee of 0.50 percent of the transaction value and administration of Rp. 250 thousand.
Meanwhile, non-subsidized mortgages will usually incur other costs such as life and fire insurance premiums.
In addition, fulfill the obligation to pay the cost of manufacture Sale and Purchase Deed (AJB)Rename the certificate, and Land and Building Rights Acquisition Fee (BPHTB).
Next, complete the required documents, both original and photocopies consisting of:
- KTP of husband and wife (if married)
- Family Card (KK)
- Marriage certificate
- Taxpayer Identification Number (NPWP).
Location of Government Subsidized Houses Around Jabodetabek
Subsidized Home Loan Contract Process
All obligations are completed and the required documents are complete, the procession of the subsidized home loan contract can be carried out.
Of course in accordance with the time determined by the bank.
This procession must be attended by home buyers as debtors, banks, notaries, and sellers.
The four parties will sign the credit agreement deed. All things stated in the deed are legal and must be obeyed, without exception.
After that, the seller and the buyer submit the documents required by the bank.
The seller must submit documents, such as a Certificate of Ownership (SHM) to a Building Permit (IMB).
The buyer submits documents in the form of an ID card (original and photocopy), Family Card (KK), Taxpayer Identification Number (NPWP), and a marriage book (if married).
Then the notary will check the validity of all documents. If there are no problems, the notary will submit proof that the ownership of the house has changed hands.
Besides SHM and IMB, the buyer will also receive other documents such as:
- Credit Agreement Documents
- Power of Attorney to Give Mortgage Rights (SKMHT)
- Acknowledgment Letter of Debt and Authorization to Sell
- Insurance Documents
Pay attention to the contents of the agreement and don’t be shy to ask
From here, the process of the subsidized home loan contract has been completed, but don’t rush home.
It’s a good idea to review the contents of the agreement that has been signed, then ask some things that you don’t understand.
In addition, there is nothing wrong with asking technical questions related to the proposed mortgage, such as the amount of installments, tenors, fines or sanctions, to the repayment system.
These things will actually be explained by the bank in the contract process. However, if there is something you don’t understand, it’s best to ask.
The goal is that no party is harmed in the future.
Well, that’s an overview of the process of subsidized home loan contract.
Are you looking for subsidized housing? Gria Sei Tuan Housing or Deli Kencana Garden Cluster could be an option for you.
Hope it is useful, yes!
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