To have a comfortable and liveable home is certainly everyone’s hope. But then the house’s price is quite expensive nowadays so that not everyone can buy it easily. But there’s one way to purchase a lovely house, is to use KPR (mortgages).
However, there is a moment where the installments will increase in the middle of the KPR credit period, and it can be another problem. This increase in the amount of the installments can affect entire monthly expenses and cause an unstable financial condition. One solution to this is to do a KPR’s take over. Here are some of this action’s benefits.
A Lower Amount of Interest and Installments
There is a fixed interest rate in KPR’s installments for a certain period and then it goes higher. When the fixed interest period ends, it will then change to the floating interest period. Where in the floating period the interest rate is usually higher than the fixed interest rate and will be reviewed periodically. This increasing interest rates will add up the number of installments you need to pay therefore it will be a huge challenge to manage your finances right. To overcome the increase in interest rates and installments, you can move your KPR to another bank that has a lower interest rate. This what we called KPR’s take over the program.
Obtain Additional Funds
In addition to previous benefits where you’ll be getting lower interest rates by taking over your KPR, there is also more opportunity to get additional funds (top-up). When taking over, your house will be revalued and tend to have a higher price than when the initial submission you did with the previous bank.
For example, the price of the house in the first period of the KPR at the previous bank was 500 million IDR, and the remaining loan needed to pay was 300 million IDR. Then the current value for the house is 800 million IDR. When the take over is done, some banks can provide a loan of around 60%-70% of the current value. So the loan that will be given for the take over KPR in the new bank is around 480 million to 560 million IDR. Let’s take the lowest probability, 480 million IDR; 300 million IDR will be used to pay the remaining loan at the previous bank and the rest of it, 180 million IDR in the form of additional funds can be used for another need such as renovation or furniture purchases.
Choose The Right KPR Products
Before doing the takeover, you need to find out what is the right KPR product that can provide more benefits. One of the KPR products you can take is PermataKPR Bijak from Permata Bank. By using PermataKPR Bijak, you can make more profit for it has a lower number of interests. Even with more balances in the savings, the KPR interest expense will be also getting smaller. It can even reach 0%.
Taking over your KPR has proven its advantages to your financial condition. So, if you feel your installments are too high, then you should try this option out by using Permata Bank services, PermataKPR Bijak for the lower interests. Do the KPR’s take over now with PermataKPR Bijak now.
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