When is the Right Time to Retrieve Home Loans?

Jakarta - BI Rate (BI) or BI Rate 7 Days Reverse Repo Rate is currently at 4.25%. BI's benchmark interest rate is the benchmark for banks to provide both deposit and credit interest, including mortgage loans (KPR).

Approximately when is the right time to apply for a mortgage?

Financial planner Eko Endarto explained when the low interest rate is the right time for a prospective home buyer using a mortgage scheme.

"Actually, take the mortgage is now right, when BI's interest rate is low, especially now that the US and China are raising interest rates, in the future it will definitely increase interest BI has said that the decline room no longer exists," said Eko when contacted detikFinance on Monday 26/3/2018).

Read also: Banks are busy Offer mortgage rates below 10%

He explained, in addition to low interest rates. Year Election can be a good time, as the experience of previous years banks provide promotions such as rebates to prizes to attract potential buyers.

According to him, banks will be more aggressive offer to the community of its mortgage products. This is because, usually the demand for credit is slowing ahead of the election.

In addition, there are also some banks that start giving single-digit mortgage promotions for the first few years. "This can be utilized by prospective home buyers, but in addition to low interest buyers should also pay attention to the costs that will appear in the process of making the credit," he added.

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Eko explained, there are some banks that have installed mortgage rates in the range of 8% or more. According to him, this is a step to anticipate the bank if there is an increase in BI reference interest rate.

"So they anticipate from now, rather than later still a low hold suddenly the interest rate rise, so prepared from now," he said.

(fig / ara)