Jul 20 2010, 01:00 PM
QUOTE(gjoy993 @ Jul 19 2010, 09:47 PM)
Does anyone know the interest rate of the government home loan? Is it fixed or flexi?
I'm looking to get a loan (90%, 30-40 years) to buy an apartment around RM190k but I'm in a dilemma in choosing the better option;
1. Buy an apartment now with a bank loan. After 3 years from now, I will be eligible to get a subsidy from my company (TNB). If the interest rate is more than 4%, they will pay the rest of the interest. (assuming that I work with them till I retire)
2. Wait 1.5 years until my wife (who is a civil servant) is eligible to apply for government home loan which I don't know the policy and interest rate.
I will really really really really appreciate any advice.
u need to check what is yr wife job grade first.. they have diff set of loan amount based on staff's job grade.. I'm looking to get a loan (90%, 30-40 years) to buy an apartment around RM190k but I'm in a dilemma in choosing the better option;
1. Buy an apartment now with a bank loan. After 3 years from now, I will be eligible to get a subsidy from my company (TNB). If the interest rate is more than 4%, they will pay the rest of the interest. (assuming that I work with them till I retire)
2. Wait 1.5 years until my wife (who is a civil servant) is eligible to apply for government home loan which I don't know the policy and interest rate.
I will really really really really appreciate any advice.
govt loan stays at 4%.. and d gud news is, the interest will be calculated based on remaining balance that yr wife owe the govt.. (Reducing interest rate or I forgot ady what ppl call this type of loan)
btw, how sure r u yr wife hv to wait for 1.5 years because job confirmation is one thing but it meant nothing until she finally get the official confirmation letter which could be dragged even further by the HR dept..
This post has been edited by awiekupo: Jul 20 2010, 01:01 PM
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