Let's get to know KPR more closely, its meaning and process

This year is the best year for those of you who want to realize your dream of owning a house or other type of property because of support from the government with provides incentives for Government Borne VAT (DTP) of up to 100%. This stimulus is a breath of fresh air for you to buy the best house in the Summarecon Serpong area.

You need to understand what processes will be carried out, including understanding in detail the KPR process. KPR itself is a home ownership credit, an alternative for those of you who want to buy a house but your cash condition is not sufficient for the price of the house.

As quoted from the official website of the Financial Services Authority (OJK), KPR is a facility credit provided by banks to individual customers who want to buy or repair a house (home mortgage). In Indonesia, there are currently two types of KPR known, namely subsidized KPR and non-subsidized KPR.

Subsidized KPR, namely a credit intended for middle to lower income people in order to meet their housing or home improvement needs. have owned. The forms of subsidies provided are: Subsidies to reduce credit and subsidies to increase funds for building or repairing houses. This subsidy credit is regulated separately by the Government, so not every person who applies for credit can be given this facility. Meanwhile, Non-Subsidized KPR is a KPR intended for the entire community. KPR provisions are determined by the bank, so that the determination of the amount of credit and interest rates is carried out according to the policy of the bank concerned.

Advantages of KPR

As is known, the ease of applying KPR to buy your dream home unit means you don't need to provide funds in cash. Just provide a down payment. Because KPR has a long term, the installments paid can be accompanied by expectations of increased income.

You need to pay attention

Before choosing a KPR, there are several things you should pay attention to. For example, if you buy a house from an individual, make sure that the existing certificate has no problems and that the building permit is in accordance with the condition of the existing building. If you buy a house from a developer, make sure that the developer has official permits such as Land Use Permit, Location Permit, Land Use Aspects, approved site plan, and others. Of course, the facilities are available, the condition of the land is mature, the land certificate is at least SHGB or Main HGB in the name of the developer, the Main IMB. Know the reputation of the seller (individual or developer). Don't carry out buying and selling transactions under your hands, meaning if the house you want to buy is still guaranteed by the bank,then transfer the credit to the bank concerned and make a sale and purchase deed before a notary. Make sure you don't carry out credit transfer transactions under your hands, meaning it is only based on trust and the proof is only in the form of an ordinary receipt, because banks do not recognize transactions like this.

So, you are ready to choose your dream home in the Summarecon area Serpong, at this year's VAT DTP moment? Don't miss it.

When you buy a house for the first time with a mortgage, of course there are many new things in the process that will confuse you. Apart from understanding the application process, the following terms are also no less important, such as appraisal, collateral, credit ceiling and BI Checking, which may still feel unfamiliar.

It is important for you to understand KPR terms so that you don't feel hesitant when you want to apply for a KPR and ask for details about the mortgage itself. Let's look at the KPR terms below!

Important Terms Regarding KPR

1. Home Ownership Credit (KPR)
   < /b>Home Ownership Credit (KPR) is a credit facility provided by banks to individual customers who want to buy a house. The main principle of KPR is that the bank or lending institution first finances the cost of purchasing a house which is then paid in installments for repayment. According to BI regulations, consumers are required to prepare a down payment of 15% for the first landed house, 20% for the second landed house, and 25% for the next landed house. The majority of loan terms will last for 15 to 20 years according to the amount of installments paid each month.


2. Application Form
   The step before applying for credit is to fill out the application form. On this form you must fill in data in the form of personal identity, employment, income and other data. Make sure you fill out this form completely and honestly.


3. BI Checking
   BI checking is the stage of checking the customer's financial history by the bank where you apply for the KPR which refers to Bank Indonesia data. This point is important in determining whether your KPR application is approved or not. If the customer has an unhealthy financial history, it could be difficult for the mortgage application to be approved.


4. Appraisal
   After going through the BI checking process, the bank will carry out an appraisal of the property. purchased by consumers with mortgages. So what does this term mean? Appraisal is the process of measuring the value or price from the bank of the property you want to buy. The property price determines the mortgage amount you will receive. For example, you buy a property for 1 billion, but the value of the property according to the bank is only 900 million, then the mortgage value you will receive is only 900 million.


5. Booking Fee


6. Booking Fee
   Proof of consumers' seriousness in buying a house in the form of funds. Of course, this booking fee will reduce the amount of down payment that will later be paid.


7. Down Payment (DP / Down Payment)
   Amount of money handed over to the developer as payment early on the mortgage. This DP percentage also depends on the KPR tenor that we want to take,Not familiar with KPR tenors? See below.
   
   
8. KPR Tenor
   The KPR tenor is the time period for taking out credit which is usually expressed in months. This time period is determined by several factors such as age, amount of income, amount of expenses and the consumer's responsibilities. The tenor period is divided into long and short tenors which you can take according to your consideration.


9. Collateral
   Assets used as credit collateral. In KPR, the house certificate is used as collateral for collateral. Therefore, if the consumer is unable to pay off the payment, the house will be confiscated according to the guarantee in the collateral.


10. Roya
    Roya is a deletion of the note on the asset certificate that is used as a collateral at the National Land Agency (BPN) because mortgage rights have been removed. The roya function is important to state that a land asset is debt free from a bank lending institution.


11. Akad
    Buying a house also requires a contract, this term refers to a written agreement that made by banks and consumers to carry out their rights and obligations according to the provisions. Of course, this agreement has legal sanctions if it is violated.


12. Transfer of Names
    This process occurs after the consumer carries out the contract process, if buying a house from a developer, usually the name of the owner on the certificate of ownership is still in the name of the developer. Rename will replace the name on this certificate with the name of the new owner. This process is also followed by the process of making a Deed of Sale and Purchase (AJB).


13. AJB
    A Deed of Sale and Purchase (AJB) is proof of the transfer of land rights, this document valid in the eyes of the law because it was made by a notary or an appointed land deed maker (PPAT). However, it should be noted that this document does not indicate land ownership, which must still be regulated in the Ownership Certificate (SHM).

Those are the important terms in KPR. Now you are more confident in buying property with a mortgage, right? Don't hesitate to consult further regarding your property needs in Summarecon Serpong, we also provide a KPR simulation feature on our official website to make it easier for you to realize your dream residence in Summarecon Serpong, Better Living Better Future.