It is a dream for everyone to have their own house. You can choose a one-time payment or purchase a house with installments by using Home Loan (KPR) services. If you decided to go by KPR, you need to prepare five additional fees as well as manage the fees. Unfortunately, there’s still a lot of people who do not fully understand these additional fees, the amount of any other fee needed to pay as well.
You should read the tips on five additional fees below before you submitted a KPR for a better understanding.
Sales and Purchase Taxes
When you are about to loan a KPR, you need to calculate the cost of sales and purchase taxes. Because these two fees are charged to the owner of the house; includes the developer, previous owner of the house and the buyer. Sales tax is later known as Income Tax (PPh). It is 5% of the price and it will be paid by the party who sells the house.
The purchase tax or also mentioned as the Cost of Acquisition of Land and Building Rights (BPHTB) has a different count. It is 5% of the Selling Price minus Selling Value of Non-Taxable Tax Objects. Also, you need to know that the amount of Non Taxable Value varies by region.
The Developer and the Bank must have their own notary when handling the documents needed. These notaries will take care of various document requirements including the Sale and Purchase Certificate (AJB), KPR Agreement Certificate, certificate making, and the name changes fee. These notary fees vary and can be very expensive as well.
The fee you need to prepare for the notary is around 250.000 – 750.000 IDR, but this number can change at any time and round up to millions of Rupiah. It is depending on the works and needs of each party who hire the notary. Each party obliged to pay the notary is those who are about to submit a KPR, which is you.
More fee for you to pay is the provision fee. These fees are charged by the bank to the KPR applicant. This is the fee that you must pay first before the credit runs. There’s some bank that will deduct the provision fee from the amount of the credit you’ll receive. So it’s mean you can also refer the provider fee as the administrative cost for the bank to in managing KPR.
The provision fees usually are around 1% of the total credit loans that you submit at the bank. For example, Mr. Ali is applying for a KPR in a bank with a total amount of 500 million IDR. So the provision fees needed to pay is 5 million IDR, and this fee needs to be paid once at the time.
Besides the provision fees, there are other bank fees that you need to know as well, and it considered as the penalty fees. This penalty fee has quite the same concept with credit taken for vehicles. This fee needed to pay if the applicant for the KPR is late in paying the installments for a certain period of time.
Generally, the amount of penalty fees needed to pay because of overdue is around 0,5% per day and is calculated from the monthly installments. Before getting the penalty, the applicant will receive due to letter up to two times, before the confiscation will be carried out. But then again, this confiscation will do according to procedures, and will not be held before noticing the applicant.
This last fees might not include as a mandatory fee when applying for a KPR. But you will find the bank offers this insurance as another benefit. It is a plus in preparing to have an asset like a house that certainly can be damaged by fire, natural disasters, or any other factors. Even so, some of you may not want this, this property insurance can comfort you with its fire insurance.
On top of that, the property insurance can be varied and depends on the insurance company involved with the bank where you applied for KPR. At this point, you need to be more observant to ensure there’s no miscalculate cost in the future.
That’s it tips and some fee that you need to pay for applying a KPR. For a better and easy process of application you can use Danamon KPR as a partner. It will be useful!