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

PT Inocycle Technology Group Tbk ("INOV")

Kamis, 14 September 2023 - 15:15 WIB

INOV Poised to Absorb PET Recycling Market Potential

The prospects of PT Inocycle Technology Group Tbk ("INOV") a public company in the field of recycling plastic (PET) bottle waste into Recycled Polyester Staple Fiber (Re-PSF), looks bright for…

Participants of the 43rd ASEAN Summit enjoy the gala dinner at Hutan Kota GBK in Jakarta, Wednesday (09/06). (Photo by: BPMI of Presidential Secretariat)

Senin, 11 September 2023 - 09:07 WIB

Indonesian Cuisine, Cultural Performances Enliven Gala Dinner of 43rd ASEAN Summit

President Joko “Jokowi” Widodo and First Lady Iriana Jokowi hosted a gala dinner for leaders of ASEAN member states, partners, and international organizations at Hutan Kota restaurant in…

President Jokowi and Secretary-General of the United Nations António Guterres, Jakarta, Thursday (09/07). (Photo by: BPMI).

Senin, 11 September 2023 - 07:45 WIB

ASEAN, UN to Enhance Cooperation in Maintaining Regional Peace

On the margin of the 43rd ASEAN Summit, President Joko “Jokowi” Widodo Thursday (09/07) hosted Secretary-General of the United Nations António Guterres in a bilateral meeting at the Kakatua…

President Jokowi shakes hands with PM of Japan Fumio Kishida at JCC in Jakarta, Thursday (09/07). (Photo by: BPMI of Presidential Secretariat)

Senin, 11 September 2023 - 06:40 WIB

Indonesia, Japan Agree to Raise Partnership Status to Comprehensive Strategic

Indonesia and Japan have agreed to raise the partnership status of the two countries to strategic comprehensive, President Joko “Jokowi” Widodo has said.

PT Sariguna Primatirta Tbk (Tanobel Group)

Selasa, 05 September 2023 - 09:45 WIB

Aggressive Tactics Boost Brand Awareness, CLEO Achieves Record- Breaking Sales in First Half 2023

The increasing public activity post pandemic has opened up opportunities for business growth in the consumer goods product for bottled drinking water (AMDK), which is better known as "CLEO",…