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
How much can I afford?
|
|
 Jun 22 2009, 01:51 PM
Return to original view | Post
#1
|
 
Junior Member
88 posts Joined: Jan 2003 From: Strawberry Island  
|
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 |
Quote|
|
 Jun 22 2009, 02:43 PM
Return to original view | Post
#2
|
|
Junior Member
88 posts Joined: Jan 2003 From: Strawberry Island
|
QUOTE(eugene jk @ Jun 22 2009, 02:24 PM) Commitment too high IMHO, most likely you cant qualify.. Does it helps if I have a backup property of worth 50% of the new property I m getting? Or you guys suggest to do early settle my car loan? I asked the banker if earlier settle only discount Rm3k.. seems not worth. Might as well put more into the new property d/p. unless you are willing to put 30 - 50% downpayment..  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   Actually for the loan will be into my name and mum. But my sis and a friend will be staying together. So they will be paying me some rentals. Does it helps on the approval? |
| Change to: |  0.0140sec
 1.23
 6 queries
 GZIP Disabled
Time is now: 22nd December 2025 - 09:35 AM |
All Rights Reserved © 2002- 2025 Vijandren Ramadass (~unite against racism~)
Powered by Invision Power Board © 2025 IPS, Inc.