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What is a mortgage loan and how to use it?

The many types of debt that are a problem for the people in Indonesia have made Dumpy Loan not stop launching new products, which are expected to help be a way out. One of them is the problem of mortgages (mortgage). The amount of this type of installment is indeed not playful, so it can often be burdensome if it is not carefully calculated or if it gets a sudden problem. Here is a brief information about ARCD Refinancing products, Dumpy Loan, happy reading, hopefully it can help your problems!

 

What Is a Refinancing Mortgage?

What Is a Refinancing Mortgage?

Refinancing is a step to use a new loan to pay off old debt, only this new loan has provisions that are more mitigating than the old debt, for example lower interest rates. Usually by refinancing, interest can be lower and monthly installments can be lower. Moreover, you can also get cash on certain types.

Especially for ARCD Refinancing, this program is specifically for those of you who find it difficult to settle existing mortgage loans. With this program, you can “move” the remaining mortgage payments at the old bank to a new financial institution / bank. This means that the new bank will immediately pay off the installments at the old bank, and you can only repay the remaining installments in a new place with lower interest.

 

Benefits of ARCD Refinancing

Refinancing

There are several benefits of mortgage refinancing which of course can be utilized. The main advantage is that you can move the remaining installments to other parties with lower interest. With lower interest, that means you also have lower installments too, at times like this you can also take advantage of the opportunity by saving even more. The remaining money saved can certainly be saved and used for other expenses that are also needed.

Oh yes, another advantage of mortgage refinancing is that you can get fresh funds. What do you mean? Yes, there is a type of mortgage refinancing that allows you to move while applying for additional loans, which can be used for various other needs.

 

Risk of mortgage refinancing

Risk of mortgage refinancing

There are benefits, of course there are also risks that must be borne. Speaking of mortgage refinancing, there are also disadvantages that must be considered. When planning to participate in a mortgage refinancing, you should pay attention to the contracts that have already taken place with the bank that issued your mortgage. Is there a penalty system that will be imposed on the customer concerned?

Usually a penalty appears in a nominal amount that is not small, so that it also needs to be considered for the debtor. However, this cannot be compared. Each bank has different provisions regarding the calculation of penalties.

 

ARCD Refinancing Dumpy Loan

ARCD Refinancing Dumpy Loan

Terms of ARCD Refinancing Dumpy Loan

  1. Never delinquent on any type of loan.
  2. Having a mortgage that has been running for 12 (twelve) payments or one year.

For example, you have a mortgage that has been running smoothly for ten months, but is starting to feel hard to pay. Can it?

Of course you can’t, but you can use this time to start considering the mortgage refinancing program, so that later in the thirteenth month you can directly join the mortgage refinancing program.

 

Type of ARCD Refinancing Dumpy Loan

Type of ARCD Refinancing Dumpy Loan

Now Dumpy Loan is working with CIMB to conduct mortgage refinancing . This step is considered quite appropriate considering CIMB capability in the banking sector. Together with CIMB, Dumpy Loan launched two types of mortgage refinancing programs to help those of you who have a mortgage problem that is starting to burden:

  • Take over

    By using this program your current mortgage will be taken over to the partner bank of Dumpy Loan, CIMB . Later the partner bank will pay off the remaining debt to the bank that gives you a mortgage. Furthermore, you can just pay the installments that run to the partner bank of Dumpy Loan with more easy installments and interest on mortgage refinancing which is certainly much lower and competitive!

    Simulation:

    Budi has a mortgage of Rp500,000,000 to Bank WEX with a tenor of 5 (five) years. The installments have been paid smoothly for 2 (two) years with a nominal value of Rp. 200,000,000. However, entering the third year, Budi begins to feel heavy to pay. By taking part in the program from Dumpy Loan, Budi plans to conduct a ARCD Refinancing of all remaining mortgages, which are IDR 300,000,000

    Finally, Budi joined the Dumpy Loan ARCD Refinancing program. Later, CIMB will pay off the remaining debt to WEX Bank. Furthermore, Budi simply paid the remaining debt of Rp. 300,000,000 to CIMB with lower installments and interest.

  • Take Over Top Up

You can take over the existing mortgage, then add the loan amount again. That is, you can get fresh funds that can be used for various other needs, such as paying a penalty fee. The amount of the loan nominal that can be obtained will usually be adjusted through the assessment stage of CIMB .

Simulation:
Budi has a mortgage of Rp500,000,000 to Bank WEX with a tenor of 5 (five) years. The installments have been paid smoothly for 2 (two) years with a nominal value of Rp. 200,000,000. However, entering the third year, Budi begins to feel heavy to pay. By taking part in the program from Dumpy Loan, Budi plans to conduct a ARCD Refinancing of all remaining mortgages, which are IDR 300,000,000

Finally, Budi joined the Dumpy Loan ARCD Refinancing program. However, after going through the calculation process, it turned out that Budi was subject to a penalty by Bank WEX due to paying off mortgage payments faster, and had to pay a penalty of Rp.20,000,000.

Unfortunately, currently Budi does not have enough funds to pay for the funds. Therefore, Budi topped CIMB for Rp. 100,000,000

This means that CIMB will pay off the remaining Rp. 300,000,000 in mortgages to WEX Bank, then will provide fresh funds of Rp. 80,000,000 (IDR 20,000,000 will be automatically deducted because it is used to pay penalties to WEX Bank). The rest, Budi is responsible for repaying the remaining ARCD to CIMB .

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