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Applying for a Housing loan, How?
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HHalphaomega
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 Mar 11 2010, 11:17 AM
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QUOTE(BlueSilver @ Mar 11 2010, 11:13 AM) A while ago, actually in 2006 I posted a thread here asking non how to apply for a car loan and thanks to the people here I manage to get a car loan. Right now I'm planning to get a housing loan and it's the same thing. I'm still working as a freelancer. I don't have a payslip so what I plan to do is to register as a sole proprietor and I have been paying my income tax for the past few years. Is it sufficient enough? Thanks in advance  As long as you've been paying taxes, it shows you do have income source hence a loan should be obtainable unless you're blacklisted or something. The loan amount however is subject to your current income level. |
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HHalphaomega
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Mar 11 2010, 11:23 AM
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QUOTE(BlueSilver @ Mar 11 2010, 11:18 AM) So just with my income tax is enough to get a housing loan? BlueSilver, You may need to also show your bank statement etc to show current income flow. Any other documents depends on the bank you're going apply for loan. |
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HHalphaomega
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Mar 11 2010, 11:42 AM
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QUOTE(BlueSilver @ Mar 11 2010, 11:30 AM) No i don't have any unit trust investment or fixed deposits. Will it help if I apply from the same bank where i applied for my car loan? At least it is to show them that I do pay my car loan every month right? That's good as well but even if you apply with other banks (due to better rate etc) they can retrieve your credit scores using BNM systems like CCRIS etc. |
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HHalphaomega
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Mar 11 2010, 11:56 AM
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QUOTE(BlueSilver @ Mar 11 2010, 11:45 AM) Oh i see. Seeing that an income for a freelancer is not fixed, how will they determine on what is the loan amount that i can borrow? I'd say they'd go by your latest 6 month average income. |
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