Hi

I want to know about refinance house.

i have buy the house RM245k, but still under contrustion and will finish next year aug.

then i want do refinance my house, i already check with my loan bank i need to pay 3.5% on that house and 3 month interest. i have calculate is roughly i need to pay 10k.

i check on market that house can loan 300k.

i need advised here is good idea if i do refinance my house?

This post has been edited by datuk_batery: Dec 21 2009, 11:34 AM

If you really need to cash out, then just refinance lo.

But there is few things you need to take note.

-You have to pay for penalty which is RM10k
-Your interest might not so good anymore and currently only can get BLR-1.8% to -1.9%
-You need to pay for the legal fee again (no more ZEC)
-You might only end up cash out for RM35k+ - only (for RM300k loan)


If your market value is just RM300k, then i think you better not to refinance, as 90% of RM300k = RM270k only. You may end up nothing much after refinance.

Let me get this right.

House value RM245k, completion date August 2010.
If refinance, you've got to pay RM10k to the bank including the 3months installment.
The value for the house right now is RM300k.

Have you finish paying for the house? If no, you will have to deal with a lot of money for your monthly commitment.
If you have, you should probably sell this house and buy another cheaper house, this way, you could still have cash in hands with no housing commitments.

bro thank for your advised...

Never heard of ppl refinancing an undercon property before........ datuk do share if you know any lenders that is willing to do this?