Home renovation process inseparable from the problem of funding. The costs incurred are sometimes not comparable with funds owned. If you have this, lending from banks was an option source of funds. Some banks may even provide a loan to buy furniture if you intend to renovate your residential total. Unfortunately, the lack of information that led to the incompleteness of the requirements needed to make the customer the trouble of getting the consent of the bank. What are the requirements and what is the process? Check out his review below.
To expedite the process of borrowing, submit collateral such as house deeds or certificates of private vehicles. The greater the assurance that you’re proposing, then the opportunity to get a loan is also getting bigger. Also, do not forget to include building permits (IMB).
If you are an employee, you must submit a document stating that you have been working as a permanent employee in the company where you work. In addition, the bank also will ask for proof of a checking account that is used to check the accuracy of salaries paid every month.
Therefore, for those who receive a salary in cash should deposit his salary into a bank account first, at least 3 months before applying for a loan. Banks typically will cut a third or a maximum of 40% of your income each month. While for those who are self-employed, make sure that documents such as the legality of at least 6 months, TIN, customer lists, vendor lists, and business registration.
In addition to evidence of the last 3 months salary slip, bank recapitulation will also ask your savings account as well as the amount of mortgage debt is running (if any). Because the amount of mortgage debt will affect the ability to pay potential creditors. So before starting a new loan, you should pay off first or minimize the amount of other debt that banks receive credit you ask.
To complement the data potential creditors, the bank will also ask about your personal documents such as identity cards (KTP), copy of marriage certificate and a family card (KK). Relating to age, the bank also will calculate your productive age. So if you are aged under 40 years, the term of the loan can be given much longer, about 10 to 15 years.
There are some things that cause the bank reject your credit application. One is the discovery of a problem on your credit accounts, such as bad credit. This makes the bank doubting your ability to pay regularly and on time every month.
Moreover, total lending is running when you apply for credit has also become an important issue. The more debt you have, the less likely your loan application is received, unless the amount of funds in your savings account is still insufficient.
The last thing is the location of the house to be renovated. Bank may reject your loan application if the residential location is not marketable, it means to be in a location that is difficult to reach by four-wheeled vehicles.