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 How much can I afford?

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eugene jk
post May 16 2009, 12:06 AM

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http://www.money3.com.my/ to determine your monthly installment

General guideline: housing loan + car loan + misc loan <= 40% of your salary..

No comment on GF expenses.. some need to pay a fortune to buy LV for them, some even GF pay for the guy (untung lo) tongue.gif

Added on May 16, 2009, 12:16 am
QUOTE(zx88 @ May 15 2009, 09:32 PM)
Hi, may i asked?
how much is my salary in order to afford 300k house and 550k house with 15yrs term loan?
3k salary for 300k house? 10k salary for 550k house?

can anyone teach me how to calculate? thanks
*
if only taking 15yrs loan,
3k salary for 300k house? <- No way
10k salary for 550k house? <- should be ok

This post has been edited by eugene jk: May 16 2009, 12:16 AM
eugene jk
post Jun 22 2009, 02:24 PM

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QUOTE(lemon^and^strawberry @ Jun 22 2009, 01:51 PM)
Dear sifus,

May I know if I am affordable to get loan for a 430-450k property? Basic earning : Rm4217.5 Age:25 Commitment : Rm26k Car loan /mnthly Rm580.

Please advise.

Thanks sweat.gif
*
Commitment too high IMHO, most likely you cant qualify.. sad.gif
unless you are willing to put 30 - 50% downpayment.. brows.gif

Rule of thumb, total monthly installment should be 40% or less of your salary.
thus rough estimation, you might only qualify for loan which installment is around RM1100 per month smile.gif
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