how to make a home loan-II
July 29, 2009
5 to find out the key factors is expected to be able to help you estimate beforehand how much credit you are willing to home loans can be approved and the bank.
1. Earnings
To calculate the maximum amount of loans that can be awarded based on income at this time, usually a bank using a simple method that is only the main income plus second, which is known as the method of “three plus one”. So the maximum loan amount is 3 times the every year, plus one to two times revenue per year. ”
For example, if so, if the couple husband and wife make a home loan, where the husband of 5 million per month, or 60 million every year, and the wife of 3 million per month, or 36 million per year, the bank will likely be able to give a maximum loan of up to the amount of 216 million. But if you’re still single and is considered the main reason not only has a joint income with the pair.
Type of income considered by the bank varies, but in general the earnings and the guaranteed routine or have been accepted routinely in the ago-that is. On the revenue that is not routine or occasional overtime just like money, will most likely be ignored.
The Bank will also require written evidence that can verify your income and the possibility to check their accuracy will directly to the company to ask the employers you. Written proof of the required form of the last salary slip, working long letter, and photocopy of passbook from you during the last 3 months. If you’re an entrepreneur and financial data requested is usually a photocopy or savings account at your bank giro. Then to verify your business is also usually required data such as business permits NPWP, SIUP, TDP, and others.
However, with this criteria, what can be made, you make a small income and the amount of loans given by banks are also small, and the greater your earnings, then the larger the loan that can be given.
2. Debts or obligations that are running
If you currently have a debt that is running, with the debt obligations of the monthly installment payment, the bank will automatically reduce the amount of loans that can be awarded based on your earnings. This is an obligation that runs before you have the ability to take loans in the next, also reduces your ability to pay the next monthly installment debt.
Imagine if we already have installment debt at this time, and then added again with the home loan repayments. How many of us who already spent to pay for the debt repayments are? If we installment debt is too large, a result we will be having difficulties paying other household expenses. The Bank does not want to continue to experience difficulties during this liquidity in the credit payment is big number of home loan credit home will adjusted depending on the size of the amount of debt that are running this.
Adjustment is usually done with two approaches – the bank will reduce the amount of credit home loan, or adjust the amount of monthly installment. Limit the maximum total monthly debt repayments a family that is considered safe by the bank amounted to only 30% of the total monthly family income. Based on the method of the second bank will adjust the amount of home loan repayments, so that if added to the previous installment debt amount does not exceed the limit line. the more debt you are running, then the less likely to get new loans from the bank or not as much as you want.
3. The amount of financing their own
Apart from the factors of a person, then the large number of home loans are also tailored to the price of a house that will be purchased. However, in general, banks do not provide 100% home loans based on price, but average about 70% of its price only a house, the rest must be financed by the fact at this time even some banks want to pay up to 80% to 90% of the house prices. Bank of the prospective borrower to request to participate in financing the purchase of the house, which is considered as a cash advance paid to the seller’s house.
This advance should you prepare yourself, so even if you buy a home with a home loan, you should prepare some cash for the rest of the house price is not paid by the bank. The greater ability to finance itself, the smaller the risk for the bank, so that the greater the opportunity to get your home loan. But on the other hand, if the amount of own financing and the greater the amount of bank financing of the small.
4. History of previous debt
If you ever have a historical debt that poorly before, then do not wonder if at the time of this more difficult for you to get bank loans. Once your home loan application is received immediately bank the bank will look for data in the history of your debts then. Do you ever have that debt repayments jammed in other places and not finished until now, whether the court had dealt with the matter in relation to the loans borrowed. Policies of each bank is different in rate and tolerant about the past history of this debt.
If complete and you have said previously the bank prior to the requested – or find out before the bank itself, may be added value for you and increase your confidence in the bank. That, the size of the loan will be tailored to the risk factors fail to pay that have occurred in the past.
5. The sustainability of your revenue
Although the practice moved jobs or companies where work can enough, but more like a bank with the prospective borrowers to work with a more stable increase in a relatively good career. Most companies are not in the current period of job you have more than 2 years old and have been appointed as permanent employees. Create your job, the bank will be considering how long your business has been running.
The reason is simple because the old age means that the business has been running quite well and the more experienced to be able to survive in the future. Minimum of 2 years of running a business that is considered safe enough by the banks in providing credit to the businessman
The period of employment and employment status for your employees, and the duration of your business is for you a businessman, is the things that the bank considered an indication of the revenue you in the future, and certainly affect the ability to make repayments later. Basically the more you earn guaranteed sustainability in the future, the possibility of a bank to lend money that you need bigger.
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