Choosing a home mortgage is customary today. People tend to choose this method to afford a private house without having to do so much and spend more than what they are capable of. Today’s prevalent issue of private housing is not caused by scarcity of houses itself. To say that the premise is wrong is an understatement as not only are there so many houses out there but the amount of housing projects keeps on rising. Market’s demands for private houses never die out of existence. The problem that people have with purchasing a house is that the house itself costs them a lot. For some people, it would take a lot of years saving money to afford a small house. As a result, they tend to choose to stay in a flat or an apartment because this option does not burden them as much. However, those who do want a private house of their own choose home mortgage as a solution because while they still need to meet monthly installment payment, they get to stay at a house without sharing walls with others. Some people would not be so lucky; they are not granted with a home mortgage approval.
There are a number of reasons why you are not approved for your home loan application. You could be someone who has received a form of subsidy from the government previously, making you ineligible for the subsidized home mortgage program (but you could be for the regular one). But you could be denied approval for you do not meet the work status and income level requirements. See, to be able to apply and get approved, you need to be an employee of a company for at least a year. This means that there should be one year period between the time you were first hired and the time you apply for the mortgage.
The amount of income you received also determines your approval. To be eligible for ownership of a single house, you need to receive up to IDR 4,000,000 every month. For a flat, your income should hit the IDR 7,000,000 mark monthly. This is a system the government develops to ensure that you can meet the monthly payment for the loan. Being unable to meet these criteria will lead to you being unable to get approved for your loan application. Make sure that you satisfy the requirements correctly and thoroughly so you can get a house.