Hi! Wanna ask for downpayment for new house, for e.g. 10% of original price, can we include it in house loan? like taking 100% house loan....

I plan to buy a condo, price RM300k, but was requested to pay RM30k upfront.
I dont have so much cash in hand, so can i request bank to include it in the house loan?

Tq

normally bank will offer around 90 - 95 % .. as for 100 % of loan, need to do some searching then ... many TS here are offering such service as for MLTA / loan, try to get adv. from them

oh ya.. u may withdraw from kwsp too from account 2

can intro me ? anyone can help me do the full houseloan?

if you want a 100% financing, make sure your house value is higher than your selling price, then ask your seller to mark up in the S&P.

Why don't you just withdraw your EPF account 2 savings for the 10% downpayment?

You can actually write a formal letter to developer saying that you want to use your epf savings to pay the downpayment.

1. withdraw EPF account 2 money
2. find bank which offers 100% loan. usually available for new property.. not so much for completed ones. but you can still ask around.

this way is normally the only to get 100% financing for subsale unit.
find a property offered below market value. let say market value 100K but the property is 90K
then if the seller agree, mark up the price in the snp to be higher as long as not higher than market value
So put 100K in snp
then apply bank loan based on 100k price
90% loan from 100K = 90K loan
since the real price of the property is only 90K, this means you get 100% loan for the house.
if you already pay 10% for the deposit before sign snp, your lawyer will refund back the balance 10%, minus the legal fee to be paid the them..

---

Added on June 9, 2010, 7:09 amhowever, to put the 10% deposit into bank loan, i think that one is not possible.

This post has been edited by budak_bagus: Jun 9 2010, 07:09 AM

Please note that the downside of marking up the selling price is that you pay higher stamp duty and loan legal fees, it does not always work as you need to know which property is under value. It also depends on the bank panel valuators.