Assume you only pay installment for the house with 10% downpayment

you will need a montly salary of
7.5k for 300k house and 14k for 550k house.


In details:
300k house after 10% downpayment
--> PV= -270k loan
--> n = 15 years
--> i/y = assume 5.5% per year
--> PMT = RM 26,899 / year
-----> Montly installment = 26,899 / 12 = RM 2, 242
For a healthy financail situation, your debt should be 30% of your montly income
which mean your recommended salary = RM 2, 242/0.3 = RM 7, 473.

same theory for the other 1....

the "n" is the requester request 1... i just base on his criteria to come out with an suggestion....
and the BLR-2 is about we can get now, depends on different banks' offering....

being conservative or not it's all depending on different individual risk profile right...? haha...
just my 2 cents...

This post has been edited by simple.ology: Jun 12 2009, 03:16 PM