Owning your dream home may sound like an impossible dream for those without a regular job or regular income. However, in reality, it is. Buying a house or property without a payslip is not impossible.
There are several ways you can purchase a home even if you don’t have proof of stable income. Read the article below to understand the conditions for buying a house without a pay slip and what to do.
Can you buy a house without a pay slip?
Dream of having a dream house People without a regular job or regular income often find this difficult. You need to know that not every job has a payslip. If you don’t have a payslip, which is one of the main requirements in the home buying process. You may feel unable to realize this desire.
But in reality Buying a house without a pay slip is impossible. Reporting from Compass that not having a payslip doesn’t mean you don’t have a chance of becoming a homeowner. You can apply to buy a house without a payslip through PT Bank Tabungan Negara (Persero) or BTN, which provides KPR facilities to debtors who have informal jobs or do not have a payslip.
So what is the minimum salary you must have to buy a house without a payslip? You must have an income of at least IDR 4 million to IDR 7 million to apply for a home loan from a bank without a payslip.
Even if they don’t have a pay slip. But here are the types of people who can afford to buy a home without a payslip along with an estimated minimum income required:
1. Entrepreneur
If you are an entrepreneur You must rely on your business’s financial reports. bank statement and other evidence of income The minimum income is approximately 2-3 times the monthly mortgage payment.
2. Freelance translator
This work requires an employment contract. How to apply to buy a house without a salary slip: Invoice and evidence of customer payment instead of payment slip The minimum income you have is approximately 3 times your monthly mortgage payment.
3. Recipient Passive income
If you have a rental home or some type of rental home, that is. Passive income that you have, you must have proof of receipt to be able to apply to buy a house without a payslip The income you need is a minimum of 2 to 3 months of mortgage payments.
In general, Home loans from banks Expect to have an income of at least 2-3 times the monthly home installment to be considered able to pay the home installment. The higher your income, the The more likely you are to be approved. Even if you don’t have a traditional payslip.
Conditions for buying a house without a pay slip
Basically, here are some conditions you need to meet if you want to buy a home without a payslip:
1. Proof of income
Even if you don’t have a pay slip. But you’ll need to be able to provide evidence of stable, consistent income, such as business financial reports. Bank statement, employment contract InvoiceProof of royalties or retirement certificate
2. Credit history
Usually before applying for a home loan from a financial institution. You will need to check your credit history first. This history must be clean and smooth. This is something that may add value to give you a higher chance of being approved for your loan application.
3. Large down payment
The bigger the down payment you can afford, the better. The more reliable the financial institution will be in its ability to pay in installments.
4. Responsible person
If possible, it is a good idea to include a guarantor or responsible person with a stable income.
5. Completeness of documents
Must prepare supporting documents such as NPWP, identity, spouse’s payslip (if any), along with documents showing ownership of the collateral.
It should be emphasized that the above conditions are general requirements. Each bank may have other terms and conditions.
How to buy a house without a payslip
Here’s how and Tips for buying a house No pay slip:
1. Gather income evidence
You must provide evidence of all income you have, such as a business financial statement. Bank statement, employment contract Invoiceand so on
2. Complete documents
Follow other general requirements such as NPWP, KTP and other documents. Consult with the bank that will be financing your home loan first about the documents you need to prepare.
3. Improve your credit history
You need to make sure your credit history is good and smooth. Avoid overdue or late payments if you have debt.
4. Save the down payment.
The bigger the down payment you can afford, the better. The bigger the financial institution will approve the loan you apply for. You must prepare a down payment of at least 30% of the home’s value.
5. Conduct a survey with several financial institutions.
Go to a bank or other financial institution. There are many places to find the bank that best suits your financial situation.
6. Negotiate interest rates
You can negotiate interest rates to get the lowest interest rate with confidence in your ability to repay.
Consistency and transparency of income is the key to influencing financial institutions. With careful preparation, buying a home without a pay slip is possible.
Source link
