Watch the full video of Mortgage Fees and Calculation Simulations
Mortgage fees and simulated calculations sometimes confuse some people. Do you want to buy a new place to live? Don’t have enough money to buy a house in cash? Don’t worry, you can use the Home Ownership Credit (KPR) option. For the mortgage itself, there are several mortgage costs that you will have to bear later. So, especially for those of you who are interested in buying a house with a mortgage. Come on, look at the following mortgage costs:
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The first, of course, you have to spend money on the cost of booking a house. This booking fee usually applies to build-book type houses. Both cash and credit payments. By paying an order fee, you can secure the housing unit you want. The booking fee itself is binding between the seller and the home buyer. So, as long as it is within the agreement period. Sellers cannot sell housing units that you have ordered to other people.
However, if the time period (as stated in the agreement has expired) and you (as a potential buyer) do not follow up on the house order. Then the housing units will be resold to other parties. In this case, the policy regarding the booking fee depends on each developer. There are developers who will return the booking fee if the prospective customer does not buy a house. However, some are charred. So, before that. You should ask the developer about their booking fee policy.
This booking fee is also a sign/proof of the seriousness of the prospective buyer in buying the house being sold. Then, how much does it cost to order? The amount of this booking fee varies greatly, depending on the developer and also the type of property. Could be 2 million, 5 million, even more. The booking fee is also included as one of the costs outside of mortgage installments that you must calculate carefully.
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Down payment or DP
In installments Dependent rights, some offer 0% DP options (specifically for certain categories) and a certain minimum DP of the price of the house. The amount of this DP will certainly affect the amount of installments that you will repay in the future. The bigger the DP, the lighter the installments.
In the MU transaction process, it will usually also be followed by the signing of a house sale and purchase contract. These documents or letters will also include the full price, method of payment, remaining payment, up to the date of settlement.
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Cost Dependent rights The next thing you should consider before buying a house with a credit option is the Notary Fee. This notary fee is not small, you know, it can reach millions or even tens of millions of rupiah.
The role of a notary in the process of buying and selling your own house is very important. It is the notary who will take care of the legality of the transaction process documents. For this reason, the home buyer must provide funds outside of the KPR installments for this notary fee.
The notary’s own fees include the cost of checking property deeds that will be traded so that the status of the deed can be verified. The cost of examining the certificate itself will depend on the policy of the local land office.
Several other things related to the notary are: attestation of taxes, certificates, AJB (deed of sale and purchase), along with BBN (cost of transfer of ownership rights) for property.
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When you apply for a mortgage, you will be charged a provision fee. The provision fee itself is a fee charged to the customer/buyer by the bank where he applied for the mortgage. This provision fee is also known as administration fee.
This fee is only charged once when your mortgage process is approved. The amount of the provisional fee itself is usually around 1% of the total principal Dependent rights.
Cost of Acquisition of Land and Building Rights (BPHTB)
This BPHTB is a cost that is borne based on a mutual agreement between the seller and the buyer of the house. To calculate the cost yourself. There are several components that can be used as the basis for calculations. One of them is the NJOP or Selling Value of Taxable Objects. The amount of the fee itself is usually around 5% of the NJOP.
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Value Added Tax (VAT)
The next KPR fee is VAT, VAT is a mandatory levy that is charged on buying and selling transactions of goods/services carried out by taxpayers. These costs will be passed on to the home buyer. However, the party that is obliged to collect and submit it to the government is the seller (in this case the housing developer).
Meanwhile, the amount of VAT for property prices is usually around 10% of the property price. VAT only applies to main properties. That is, properties that are sold directly from the hands of housing developers to buyers (prospective house occupants). Meanwhile, secondary properties that are sold separately will not be subject to VAT. In addition, there are also several types of housing that can be VAT-free. Among them is subsidized housing.
When buying a mortgage, you will also be charged insurance costs. This insurance can include fire insurance and life insurance. This insurance is usually valid during the mortgage installment period. Its function is to protect customers and other parties from things that are not desirable.
Read Also: What is a KPR “Home Ownership Credit”?
The next mortgage fee that you shouldn’t miss is the mortgage interest fee. The amount of interest costs itself is quite diverse. In accordance with the policies of each bank, but still within the limits set by the government.
It is this interest fee that will add to the principal installment amount. So, interest + principal repayments = the number of mortgage installments you have to pay each month. So, make sure you choose a low-interest and profitable mortgage so that the monthly installments are not too heavy.
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Mortgage Cost Calculation Simulation
So you can find out the amount of initial costs that you have to spend on a mortgage. The following is a simulation of calculating mortgage costs that you can use as a reference:
The house price is IDR 500,000,000
10 year mortgage
Interest rate 5% per annum
Floating Interest Rate 13.5% per annum
Down payment: 20% x IDR 500,000,000 = IDR 100,000,000
Remaining Credit Principal: IDR 500,000,000 – IDR 100,000,000 = IDR 400,000,000
Bank Appraisal Fee
Estimated IDR 1,500,000
Provision Fee: 1% x principal = IDR 4,000,000
Insurance Fee: IDR 4,000,000
Total Bank Fee IDR 9,500,000
Deed of Sale: Rp4,000,000
Name Return Fee: IDR 4,000,000
Akta SKMHT: Rp2,000,000
Acta APHT : Rp4.000.000
HT agreement: Rp4.000.000
Check Certificate ZNT, HT PNBP: IDR 2,000,000
Total Notary Fees: IDR 20,000,000
Installments Per Month
(Instalments + DP + Total Bank Fees + Total Notary Fees)
Meanwhile, the installments for 10 years are IDR 5,000,000. With a principal installment of IDR 3,333,300 and mortgage interest of IDR 1,666,700