Homes, certificates, mortgages, and the cost of ownership.
31 terms
KPR
A bank loan to buy a house, paid in monthly installments over a set period.
DP
The down payment paid by the buyer upfront, with the rest payable in installments via KPR or cash.
credit ceiling
The maximum loan limit approved by the bank for your KPR.
annuity interest
An installment method with the same total payment each month, where the interest portion shrinks and the principal grows.
provision fee
An upfront bank fee on a mortgage, usually a percentage of the credit limit.
admin fee
A document and administration fee paid when the mortgage agreement is signed.
penalty
A fine charged by the bank if the mortgage is paid off early or the agreement is cancelled.
take over
Moving the remaining mortgage from an old bank to another bank with a lower interest rate.
refinancing
Replacing an old mortgage with a new one, usually to get a lower interest rate.
appraisal
A bank appraiser's assessment of a home's price to determine the mortgage ceiling.
collateral
An asset pledged to the bank, in a mortgage usually the house itself.
certificate
A document proving ownership of land and buildings issued by BPN.
SHM
A certificate of full ownership of land, the strongest type of certificate.
SHGB
A certificate for land use rights for a certain period, common for developer houses.
AJB
Official deed of sale and purchase of land and houses made by PPAT as proof of transfer of rights.
BPHTB
Tax paid by the buyer when acquiring rights to land or buildings.
PBB
Annual tax on land and buildings paid by the owner to the local government.
NJOP
The value of land and buildings set by the government as the basis for calculating PBB.
NJKP
A certain percentage of NJOP used as the basis for calculating PBB.
BPHTB waris
BPHTB that arises when acquiring land or a house through inheritance.
APHT
A deed that makes a house collateral for a debt to the bank.
hak tanggungan
Debt collateral on land or a house registered with BPN.
roya
The process of removing the mortgage right on a certificate after the KPR is paid off.
IMB
Building permit; now replaced by building approval in many regions.
renovation
Repairs or changes to a home, which can be funded by savings or a renovation loan.
renovation loan
A loan specifically for repairing or renovating a home.
rent
Paying to use someone else's house for a certain period.
rental deposit
Security money paid by the tenant upfront, returned if there is no damage.
service charge fee
A monthly fee for cleaning, security, and shared facilities in a housing complex or apartment.
strata title
Proof of ownership of an apartment unit along with rights to the shared parts of the building.
mortgage takeover
Taking over someone else's mortgage instalments by paying a sum of money to the previous owner.
