Tips on Home Loans

Buy their homes through a mortgage, can be a bond, a commitment or agreement payable largest and longest you've probably decided. Because home prices are high, the greater the required mortgage and also the length of time to restore it, it usually lasts until between 10 and 15 years of your life.

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If we look at the current mortgage market has many changes. Home loans which supplied many of the banks have created a varied range of offers to attract people to want to take a home loan products. The fact that there have been changes in the banking world, where many old players that ran aground and there are new players emerging atmosphere also adds to the heat of competition. With the increasing number of home loan option is supposed to be more profitable for us the potential consumers.Unfortunately, getting a home loan from a bank does not become easier over the years. Fortunately, we do not have to make a long queue in the bank to apply for a home loan. However, the home loan approval process still has to go through the various stages of the screening process.Complexity is increasing even with a variety of administrative processes and formalizing an already one inseparable package with home loans. Not to mention about the transaction costs of buying a home following credit bonding costs, and other administrative costs. No wonder so many people consider the process of getting a home loan is very long and complicated.However, do not despair, choosing a home loan that suits you is not as difficult as you might think, and hope that your home loan application is approved it is not impossible, if you run the following basic steps.

I need a loan to buy a house.
 Where should I start? The most important area that you should first analyze is your financial capability. There is no point if you're forced to borrow beyond your ability to return it. If you do well, you may end up with your dream home, but suffered financially when from time to time trying to meet the repayment obligations of home loans that are too large while trying hard to meet the needs of everyday household tends to increase every year.So how do I make sure I take a home loan that will not membayakan my financial situation?In general, as the banks that provide loans or as the lender will help you calculate how many home loans are in the area of ​​your financial ability. When analyzing your ability to borrow, the bank usually uses five factors for consideration in determining the amount of the loan.Five factors are, your current income, amount of debt that is running and how much mortgage debt per month, the amount of financing itself, the history of your previous debts, and the sustainability of earnings.By knowing the 5 key factors, it is hoped can help you estimate the amount of the first mortgage amount that you can borrow and your bank can be approved.

    Income
 To calculate the maximum amount of the loan that can be given based on current income, typically a bank using a simple method that doubles the main income plus the second income, which is commonly known as the "three plus one". So the maximum loan amount is "3 times the main income per year, plus a one-time income to two per year". Examples like this if, if the couple filed a mortgage, in which the husband's income of 5 million rupiah per month or 60 million per year, and the wife earning 3 million dollars per month or 36 million dollars per year, then the bank will likely be able to give a maximum loans up to the amount of 216 million dollars. But if you're still single then that counts is the main income just as it has had a joint income with a spouse.Type of income considered by the banks vary, but generally a regular and guaranteed income or have ever received on a regular basis in the past was the one that counts. Conversely income irregular or occasional overtime as most likely to be ignored.Banks will also require written evidence that can verify your income and to check the truth is likely to directly ask the company your employer. The requested written evidence in the form of salary slips last long letter to work, then you are saving a copy of the book for 3 months. If you are an entrepreneur then the financial data requested is usually a copy of a savings or checking account at a bank. Then to verify your efforts usually required data such as business licenses TIN, SIUP, TDP, and others.But with these criteria, what may make, make you a little income the amount of bank loans is also small, and the greater your income, the greater the loan that can be given.

    Debts or obligations that run 
If you currently have a debt already running, the monthly debt repayment obligations, the bank will automatically reduce the amount of loan that can be given based on your income. This is due to obligations that run had been reducing your ability to take out another loan, it also reduces your ability to pay the monthly debt repayments next.Imagine if we already have a mortgage loan today, then added the home loan repayments. How much of our income is spent on debt repayments be? If we are too big mortgage debt, as a result we will have difficulty paying other household expenses. Banks do not want you to continue to experience liquidity difficulties during the period of payment How much home loan mortgage loan amount will be adjusted depending on the size of the amount of debt that runs it.Adjustments are usually done by two approaches: the bank will reduce the amount of the mortgage loan, or adjust the amount of the monthly installments. Limit total monthly debt repayments a family that considered safe by the banks is 30 percent of the total monthly income of the family. Under the second method, the bank will adjust the amount of the mortgage repayments, so that when added to the previous mortgage debt amount does not exceed the maximum limit earlier. In conclusion: the more debt you are running, the smaller the chances of getting a new loan from the bank or not as big as you want.

    The amount of self-financing
 Irrespective of one's income, the amount of the mortgage amount is also adjusted to the price of the house to be purchased. However, in general, banks do not give 100 percent loans based on home prices, but on average about 70 percent of the price of the house, the rest should be funded solely by you. In fact, today some banks are even willing to finance up to 80 percent to 90 percent of the home price. Bank is asking prospective borrowers to contribute to finance the purchase of his home, which is considered as an advance paid to the seller of a home.This advance should you prepare yourself, so even if you buy a house with a mortgage, you still have to prepare some cash for the rest of the house prices are not paid by the bank. The greater the self-financing capacity, the smaller the risk for the bank, so that the greater your chances of getting a home loan. But on the other hand, if a greater number of self-financing in the amount of financing from the smaller banks.

    History of previous debt
 If you ever have a poor history of previous debt, then do not be surprised if at the moment it harder for you to get a bank loan. Once the loan application is accepted the bank then the bank will soon find historical data of your debts in the past. Have you ever had a bad mortgage debt elsewhere and was not completed until now, would have dealt with the court in connection with the borrowing case. Policies of individual banks vary in rate and tolerance on the history of past debt.If his case is over and you have said previously to the bank before being asked or before the bank looking out for himself, might be an added value for you and increase your confidence in the bank. To be sure, the size of the loan will be adjusted by a factor of risk of default that had occurred in the past.

    Sustainability your income 
Although sedentary work habits or company work quite understandable, but the bank prefers prospective borrowers with a more stable working period with a pretty good career progression. At least not at the present time the company you work for more than 2 years and was appointed as a permanent employee. Create your entrepreneurship, the bank will strongly consider how long your business has been running.The reason is simple because the older the age of the business means it's going pretty good and more experienced to be able to survive in the future. Minimum 2 years of running the business considered safe by the banks in providing credit to the wirausahana.Years of service and employment status for your employees, then the length of your efforts are a walk for those who are entrepreneurs, are matters to be considered as an indication of the sustainability of bank earnings in the future, and of course, affect the ability to repay the loan later. Essentially the terjamian sustainability of your income in the future, then it is likely the bank gives a loan you need even greater.

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