Here are Five Factors Causing Housing Loan Rejected by Bank

By : Ahmad Fadli And Aldi Firhand. A | Thursday, November 30 2017 - 13:47 IWST

Illustration of Property Decline
Illustration of Property Decline

INDUSTRY.co.id - Jakarta - Applying for Housing Loans (KPR) is currently mostly chosen to buy a house. But did you know that not all mortgage submissions will be approved by the bank, many of which are actually rejected for various reasons.

The following are the factors that led to the mortgage rejected by the bank. Check one by one. who knows one of them being the reason banks refuse your mortgage submission.

Incomplete Documents

Completeness of documents for the submission of KPR is vital. The bank will refuse the mortgage application if the document is incomplete. Then keep in mind if you have met all the requirements requests from the bank. Make sure all requested documents are provided. If you miss one, of course this means rejection.

Bad Developer

Usually banks are already working with several property developers. The developer is considered capable and reliable. If you get a home outside of the developer working with the bank, the bank will rethink. Banks should re-check the quality of your developers. If the developer is in good condition, the KPR process can run. However, if the developer is included in the black list, then the KPR is rejected by the bank.

House Troubled

This can also be a factor why your KPR is rejected. Sometimes, there is the issue of multiple ownership status. Usually, this happens in a used house. Not on the house offered by the developer. Can also house or land is still a dispute.

This is a consideration of the bank to refuse the submission of mortgages. In other words, the bank will provide mortgages if the condition of the house is not a problem. In addition, the house documents must also be settled.

Customer's Red Card

To get a mortgage, you must have a good image in the eyes of the bank. Banks will reject customers who have had problems with the bank. For example, the customer has been exposed to the case of repayment of the installment. Alternatively, clients are exposed to other legal cases. So your reputation is also considered by the bank to accept or reject your mortgage.

Ability to Pay

Banks typically provide a benchmark of 30% of income per month to pay mortgages. However, there are some banks that dare to peg up to 40%. You are said to be able if you have a steady income. And, you can also be verified by the bank. In addition, your savings balance must also qualify.

News Comment

Today's Industry

NORD-DuoDrive.jpg: The innovative and patented DuoDrive geared motor reaches outstanding system efficiency Image: NORD DRIVESYSTEMS

Selasa, 17 Mei 2022 - 14:00 WIB

NORD DRIVESYSTEMS at LogiMAT in Stuttgart From 31st May to 2nd June 2022 NORD will present innovative drive solutions for intralogistics

The specialist LogiMAT exhibition in Stuttgart offers as comprehensive overview of the intralogistics and process management market. As one of the market leaders for drive technology, NORD presents…

President Jokowi attends the meeting between ASEAN leaders and American entrepreneurs at Intercontinental the Willard Hotel, Washington DC, Thursday (05/12). Photo by: Laily Rachev

Selasa, 17 Mei 2022 - 13:00 WIB

President Jokowi Invites US CEOs to Boost Cooperation with Indonesia

President Joko “Jokowi” Widodo has invited company CEOs in the United States to boost cooperation with ASEAN countries, particularly Indonesia.

President Jokowi, President Biden, and ASEAN Leaders on a group photo prior to the dinner, at the White House, Washington D.C., Thursday (05/12)

Selasa, 17 Mei 2022 - 12:28 WIB

President Jokowi, ASEAN Leaders Attend Dinner Hosted by US President

President Joko “Jokowi” Widodo Thursday (05/12) attended a dinner with the leaders of ASEAN countries hosted by President of the United States Joe Biden at the White House, Washington D.C.

(Photo: © 2022 KRAIBURG TPE)

Selasa, 17 Mei 2022 - 11:23 WIB

TPE unleashes benefits for pet accessories

The pet care market is rapidly expanding as pet ownership increases, as does spending on pet food, grooming tools, and accessories. Pet owners are significantly concerned about the prevalence…

Sergey Sedov, Founder and CEO of Robocash Group

Jumat, 13 Mei 2022 - 16:15 WIB

Robocash Group reached 2 BN USD of disbursement and issued audited financial report of 2021

Robocash Group publishes the audited combined financial statements for the year ended 31 December 2021. The Group reached an all-time high 2 BN USD of issued financing and is expected to increase…