Want to buy a home on credit? Consider taking a mortgage takeover. What’s the reason? Check out the details below with the filing method and bank of your choice!
Homesickness is definitely not possible to create for people with passive income. But with the Mortgage (Mortgage Credit), anyone can realize their dream of owning a home. Mortgages are always created so that we can buy a home on a monthly basis until it is paid off. These mortgage products are issued by banks, both government and private banks. In the mortgage, there is a mortgage takeover. For those of you who don’t know what a mortgage takeover is, Chancellor will give you an explanation.
Mortgage Takeover is a transfer of home loan installments
From one party to another. There are three types of mortgage takeovers you need to know. First, there is an interbank mortgage takeover that transfers the mortgage loan from one bank to another. But for this type of mortgage takeover, you have to take out the mortgage loan first. The second is a home equity mortgage takeover that is of great interest because you can buy or maintain someone else’s mortgage. Of course, this takeover process should be done at the bank where the first owner of the mortgage is applying for a home loan.
The third is a mortgage underwriting takeover that is not really much different from home sell takeover, just that the process is done under an alias without the bank’s knowledge. So later the mortgage is still on the name of the first mortgage owner. This third type is actually not recommended because of its high risk. Plus, there are a lot of expenses that you have to pay.
Reasons to Take a Take Over Mortgage
You must be wondering why we should choose a mortgage takeover instead of a regular mortgage? There are several reasons for this:
The House Can Be Ready To Reside
The first reason why you are advised to take a mortgage takeover is that the home can be occupied immediately. Most of the mortgage takeover, the house is already in shape so you can live in it right away. In contrast to the average mortgage, the average is still half or there is still nothing to be done. That way, you can move to a new house right away. But remember, first check the eligibility of the house you are about to take over because we did not know the house history from the beginning. So check for details on drainage, water, buildings, and even air vents.
The Installment Can Be Lighter
The main purpose of a mortgage takeover is because the installment can be lighter. How can that be? Because when you do a mortgage takeover, you can choose the bank that offers the best mortgage. Please note that in mortgage lending, interest rates in years 1-3 are usually fixed or using flat rate calculations. In the years that followed, the floral calculation system would turn into a floating rate that fluctuated heavily in the market. The market interest rate is always volatile and sometimes increases until the monthly installment becomes larger.
With a mortgage takeover, you can move the bank and get lower interest rates so the monthly installments can be lighter. You can also enjoy flat floral arrangements for another 1-3 years.
The Tenor Period Can Be Longer
With a mortgage takeover, you can also extend the tenor of the installment. How can that be? Because when you take out a mortgage takeover, the installment will be calculated from scratch, except for the down payment mortgage takeover. That way, you can have a longer tenor. Actually the tenor of a mortgage takeover is not the same as a typical mortgage. The average will be a maximum tenor of 15 years to 20 years. The longer you take the tenor, the installment will be lighter, but the overall debt burden will be larger. So choose the right tenor.
How To Apply to Take Over Mortgage
After getting established you want to apply for a mortgage takeover, so how do you apply? How to apply for a mortgage takeover varies depending on the type. Accordingly, the Olive Chancellor will explain how to apply for a mortgage takeover according to its type:
Interbank Mortgage Mortgage TakeOver
In order to take over an interbank mortgage, you must first prepare a Resident Identity Card, National Identity Card, National Identity Number, Personal Identification Number, National Bank Card, Home Loan slip, newspaper account, as well as a home certificate or resale certificate. will be on takeover . Once all your paperwork has been fulfilled, you will need to come to the bank to apply for a mortgage takeover . So what if there is no home certificate yet? You have to wait for the house certificate to come out first. Usually a new home certificate will come out after 1 year you pay the installment.
TakeOver Home Mortgage Sale
While for home mortgage takeover types, the requirements to be met are not significantly different from an interbank takeover . The difference is that if the takeover between the bank involves only you and the bank only, the takeover house will involve four parties: yourself, the mortgage owner to take over , the mortgage takeover bank, and the notary to handle all mortgage transfer documents such as the return of the certificate name and so on.
TakeOver Underground Mortgage
Whereas for a lower mortgage takeover , the process is not as thorough as the other two types of mortgage takeovers as you involve no bank but yourself, the mortgage owner and the notary who will not only manage the mortgage takeover but will also serve as a witness to the mortgage loan from the old owner. new owner. Since the risk of taking an underhanded mortgage takeover is huge, it is advisable to take an underhand takeover from someone you already know such as family, friends, or coworkers.