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  • Mortgage for buying house

    As a foreign guy get married with an indonesian girl, planning to buy a house in semarang, i wonder if i can apply mortgage in indoesian bank? If not, may my indoesian wife can apply? (Both of us have a job in Indonesia) I am looking for a 2 to 3 bedrooms house in midtown, budget around 5M Rp per m2. Thanks.

  • #2
    Your wife may apply, the bank then would look to your wife's salary and do the calculation about how much your family monthly income and expense or such. Then they will be only able to cover up top 70-80% of the house price.

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    • #3
      Originally posted by Restaditya Harris View Post
      Your wife may apply, the bank then would look to your wife's salary and do the calculation about how much your family monthly income and expense or such. Then they will be only able to cover up top 70-80% of the house price.
      Thanks for your reply

      I am wondering how many the mortgage loan rate per year is.

      Also, the bank will consider my salary together or not.

      BTW, how much in average does a 3 bedrooms house cost in midtown in semarang?

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      • #4
        Make sure you're aware of how mortgages work in Indonesia. Many banks charge interest for the full term, even if you pay it off early.
        Sasa Bule is having a bayi!

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        • #5
          Originally posted by Hk Stock View Post
          Thanks for your reply

          I am wondering how many the mortgage loan rate per year is.

          Also, the bank will consider my salary together or not.

          BTW, how much in average does a 3 bedrooms house cost in midtown in semarang?
          Welcome

          Well today's rate for mortgage (KPR) is around 9-15% depends on the bank. They have endless financing scheme that could make you confused, so just be careful.

          I don't know how bank would consider your salary, but at least your wife could say that she save all of her salary to pay the mortgage since you are the one who pay the household's bills (so then the bank may give you a larger sum of mortgage).

          3BR (approx. 120-200 sqm of land) house in midtown of Semarang... should be no more than IDR 2-4 Billion I think (because in Jakarta, it is around 5-7 Billion)

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          • #6
            Originally posted by Hk Stock View Post
            As a foreign guy get married with an indonesian girl, planning to buy a house in semarang, ...

            Be informed that you may have to consider the prenup/separated wealth subject (see link below) .

            Revision : now one can make a posnup/separated wealth too .

            http://www.expat.or.id/info/prenuptialagreement.html

            http://www.expat.or.id/info/buyingproperty.html

            http://www.livinginindonesiaforum.or...-consequences?

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            • #7
              Originally posted by marcus View Post
              Be informed that you may have to consider the prenup subject (see link below) .

              http://www.expat.or.id/info/prenuptialagreement.html

              http://www.expat.or.id/info/buyingproperty.html

              http://www.livinginindonesiaforum.or...-consequences?

              http://www.livinginindonesiaforum.or...w-Prenup-rules (Atlantis post about court request of wealth separation)
              Put it simple

              Is it about siging a sort of agreement before marriage that the asset a foregin man owns will not be shared with his indonesian wife, once they get divorced?

              And the man can only sell the house when he sign such a thing with his wife before marriage?

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              • #8
                Originally posted by Restaditya Harris View Post
                Welcome

                Well today's rate for mortgage (KPR) is around 9-15% depends on the bank. They have endless financing scheme that could make you confused, so just be careful.

                I don't know how bank would consider your salary, but at least your wife could say that she save all of her salary to pay the mortgage since you are the one who pay the household's bills (so then the bank may give you a larger sum of mortgage).

                3BR (approx. 120-200 sqm of land) house in midtown of Semarang... should be no more than IDR 2-4 Billion I think (because in Jakarta, it is around 5-7 Billion)
                Wow, thats a lot

                Do u think i can bought a house or apartment in midtown in semarang with 250 to 300 million IDR?

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                • #9
                  A
                  Originally posted by Hk Stock View Post
                  Wow, thats a lot

                  Do u think i can bought a house or apartment in midtown in semarang with 250 to 300 million IDR?
                  I don't know anything about real estate values in Semerang, but a quick google search should give you lots of listings.
                  Sasa Bule is having a bayi!

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                  • #10
                    I don't think that is really feasible. When I had a look a couple of months ago, a newer development 2BR would go for 350-400 juta.

                    About that mortgage; having a prenup is (almost) necessary for your spouse to be able to buy a house. But the prenup also prohibits the addition of your salary.
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                    • #11
                      Originally posted by jstar View Post
                      I don't think that is really feasible. When I had a look a couple of months ago, a newer development 2BR would go for 350-400 juta.

                      About that mortgage; having a prenup is (almost) necessary for your spouse to be able to buy a house. But the prenup also prohibits the addition of your salary.
                      prohibits the addition of your salary? Why?

                      I think the house may drop now due to bad global economy

                      Maybe some old house is around 300 - 350 juta for 80 to 100 m2, around 2 to 3 BRs

                      I find some on a indoesian apps selling property

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                      • #12
                        Yeah but that means a fixer-upper.

                        The moment you have a prenup, it says the properties and wealth of both partners are separate. And that also has certain consequences, for instance when there are creditors. Obviously when someone buys a house, the credit institution wants guarantees (s)he can pay the montly installments. But your name is not on the akte and to make it worse, there is no shared responsibilty. You are not a person they can pursue when something goes wrong (divorce, moving abroad, discharge, ...) and you stop paying. So that's why they are very hesitant to provide a mortgage, even more when there is a prenup.
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                        • #13
                          Thank you for your answers. I am interested in the same question.

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