Hi friens, welcome your feedback and expertise comment..i am 1st time house buyer..Recently, i bought a house which locate at Bukit Indah, johor.

The House Price is = RM378800
Property is under construction
My Salary = RM6000

My first concern is on the attractive loan package available in the market now.. I appreciate if all the banker from various bank can share their piece of information, discuss and compare the difference as well on the current home loan packages with the members of lowyat. I believe most of members would like to know too.

To my extent of knowledge, there are several factors need to concern while choosing the packages.

1. Type of Loan + BLR-XX%

Flexi loan
Advantages:
- helps to reduce your rate of interest needed to pay.
- can witdraw extra $$ pay for loan during emergency.
- allow to settle all outstanding debt only after 5 years.
Disadvantages
- need to have a sum $$ to modulate the interest rate.

Fixed loan
Advantages:
-for those who purchase house for own stay.
-no worry on BLR
Disadvantage
- no clearance of outstanding debt in short period.

Combination of both type loan - still available??

2. MRTA /MLTA
3. Maintainance fees
4. Non zero entry or Zero Entry (stil available)
5. Convenient( Like Bank open on Saturday)
6. Any Hidden Cost?
7. Lock in period?
8. Penalty if sell property or refinance within 5 years
7. Any other factor needed to concern?


On the other hand, i heard my friend said islamic bank and other insurance company do offer different homeloan packages from others bank. Perhaps any one who is experience and expert can share their view and opinion here with our forum members.

Last, welcome feedback and comments from all walk of life on the housing loan packages offered by various bank

Thank you.

cannot compare one lah, don't need to be so calculative, as long as it is in par with most current rates (BLR - 2.3%) for 1st 3-5 years than just close your eyes and choose any bank. The important criteria is to choose a bank you are familiar and have been dealing in your life (from saving, salary deposit, car loan, education loan...). The bank that have your record, you know somebody who's working there and the bank that can have a long relationship with.

Will you close your eyes also when paying installment for whole 30years without checking what you paying for? Sometime you might be save few years of tenure without paying extra by choosing the right loan package.

I will.

Anyone can advise which bank offers better rates at present?

i would say Public bank at the moment.

Would advice you to apply to a few banks and see what rate they actually come back with.

Certain bank's mortgage sales people may claim to be able to get you a certain rate, and they may be able to truly deliver on that promise with a black-and-white LO.

However I have also heard from many of my customers about mortgage sales people who over-promise and under deliver.

Regards,

Thanks Roys for your advice..So far, i heard the best rate bank can offer is BLR-2.0%..
MRTA is optional
Set up fees = 200
Monthly charge=10

I just wonder if whether i can purchase MRTA or MLTA from other insurance company instead of from the same bank??Is it possible..??

Besides, i feel very curious to know whether is there any calculation sheet can help to calculate monthly installment needed to pay based on daily interest..

In my point of view, it will be very helpful because we can play the daily interest (in flexi loan) by paying extra to reduce the principal.


This post has been edited by yipman115: May 3 2010, 10:57 PM

how much public bank offers?