Requirements for Purchasing a Subsidized House with a Mortgage and Its Procedures

The requirements for purchasing a subsidized house are often sought after, especially by those who wish to own their own home but face financial constraints. The government established this subsidized housing program to help low-income families obtain decent housing through an installment plan.

This is why not everyone can apply for a subsidized mortgage. Prospective buyers must meet specific requirements set by the government. What are these requirements? Let’s explore the explanation below.

Benefits of Buying a Subsidized House with a Mortgage

Many people have benefited from the government’s housing subsidy program. Here are the advantages of purchasing a subsidized house with a mortgage:

1. A more affordable down payment, ranging from 1-5% of the house price
2. Lower and fixed monthly installments until fully paid
3. Building materials used are of sufficient quality
4. Strategic locations, as housing projects are typically developed in industrial areas accessible to workers
5. Relatively simple application requirements
6. Houses are ready to occupy
7. Developers have good reputations

Requirements for Purchasing a Subsidized House

To purchase a subsidized house, ensure you meet the following criteria:

1. Must be an Indonesian citizen (WNI) and reside in Indonesia
2. Minimum age of 21 or already married
3. Employed for at least 1 year or has owned a business for at least 2 years
4. Has not previously received a housing subsidy from the government
5. Maximum income of IDR 6 million (unmarried) and IDR 8 million (married) for landed houses and apartments
6. Has a Taxpayer Identification Number (NPWP) and Annual Tax Return (SPT)
7. Has a good financial record with no history of bad credit or overdue loan repayments

Document Requirements

Once all the above requirements are met, you can proceed with preparing the following documents to apply for a subsidized mortgage:

1. Photocopy of ID (KTP)
2. Photocopy of Family Card (KK)
3. Photocopy of NPWP
4. Photocopy of marriage certificate (for married applicants)
5. Passport-sized photo (3x4)
6. Original salary slips for the last 3 months
7. Bank statements for the last 3 months
8. Certificate of employment from the company
9. Letter from the village head stating that the buyer does not yet own a house
10. Bank account passbook of the relevant bank
11. Annual Tax Return (SPT)
12. Completed FLPP form and mortgage application
13. Stamp duty

Criteria for Subsidized Housing

Considering that subsidized housing is more affordable, there are specific criteria that differentiate it from standard commercial housing. The criteria for subsidized housing are as follows:

1. Maximum building area of 36 square meters
2. Maximum land area of 60 square meters
3. The house must be the buyer’s first private residence
4. Cannot be transferred to another party for at least 5 years from the date of purchase
5. Selling price follows the maximum price cap for each region in Indonesia

Thus, a complete explanation of the requirements for buying a subsidized house with a mortgage and its various benefits. Hopefully, this government program can help you own a house at an affordable price.

Although partnered with the government, it is still important to choose a trusted developer. Ensure you purchase the best subsidized housing from a reputable developer like Ingria Group.

Since 2013, Ingria Group has been experienced in developing high-quality subsidized housing projects in various strategic locations across Indonesia, including Bandung, Tangerang, Bekasi, Karawang, Samarinda, and Sumedang. Get your subsidized house today with Ingria Group!