Thanks for your feedback. Your input will be a great benchmark / reference point.

anybody got something similar to share?

Thanks.

no problem, just feel glad that my 2 cents can help
but for more accurate, you can just sit down with baankers and they will advice you how to get the loan.

btw, ofcourse you also need to study abit where you going to buy your property, study abit about the location, developer, price etc, then if you have confidence on the property you going to purchase already, then try to ask few banker from difference bank to talk about your problem and loan, they will assist you. But not all bank are 100% able to approve the loan, so u can go one round with few banks and see which bank approve your loan and their package is all slightly difference, so choose wisely.

it's not a rule, only a guide...

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Added on August 14, 2012, 10:17 amgross as a supplementary support, nett is the main criteria

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Added on August 14, 2012, 10:18 ami think you should be asking, how much are you willing to spend... then calculate the loan amount based on that...

some people are more willing to sacrifice... most not... think about it

This post has been edited by kenji1903: Aug 14 2012, 10:18 AM

have u count in the downpayment u need to save before able get bank loan?

Lessay u earn 3.5k can pay for 300k house. But if u dun have downpayment oso cant buy.

When u already collect enuff money for downpayment, the house is not 300k anymoe...

FFUUU.. poor ppl cant buy house

This is the reason why US got into subprime crisis and bring shit to us as well.....

but still, the fact is that malaysia property are hiking, maybe it will drop but let wait malaysia is as advance as US those big country 1st XD

Just saw news from 东方日报。 RM7000 to buy 450-550k house. Every month pay RM2000.

They said if the family spend banyak 1 then cannot tahan also.

Generally, the house you intend to buy should not be more than 6 times of your annual income. Work out some math after down payment, loan repayment year, etc...and your monthly repayment should not be more than 1/3 of your monthly gross income. Still this is the advisable guideline, not necessary to be followed completely as long as you know where you are, plus minus around the figure should be ok. Just don't kill yourself will do...

Read the news too just now. How sad...but yet this seems to be the truth now...

But that's because family have more commitments right? Like children's welfare, education, etc.

Yeah.

my pay is approx the same,
Loan amount: 350K; MI: 1.8K; 30 years tenure
no car loan though...got cc, but clearing it up

This post has been edited by cutejams2004: Aug 16 2012, 10:24 AM

1/3 of your slary

Ahh same as me. I've got no car loan, stay with distance relative but I pay them monthly rent small amount. Got cc but pay on time. The rest is just bills like phone and maxis broadband.

500-700rm should be ok...dont be like average joe where wan to buy big house so pay more then 30%-40% of their incomes.....youre paying for 30-40yrs ....your pay doesnt always increase over the 30yrs u know....

to be honest, even a 200k loan would not amount to that little of a MI...and to find a 200k property is a challenge indeed...

pay RM700 for rental or loan?

RM700/month for 20 years, you can't even buy an RM130k property
also good luck finding anything livable for less RM200k in Selangor/KL

buy house with roughly RM200k value.
mthly installments = RM1000.
married or not? if not married, rent out spare rooms
and become live-in landlord.

Have you talk with a banker yet?
Shouldn't you do a survey with a few bankers 1st to determine whether you can actually afford to buy & manage a loan for a property?

It may sound easy but properties prices nowadays are quite high (& getting higher by the minute).
I don't think it's gonna be easy to get a bank to approve a loan for those earning RM3500.00 unless you have another person applying this loan with you.

Have you try/consider MBSB - Malaysia Building Society Berhad?
(There are pros & cons in this too)

TS...u got 30k cash or not for downpayment? and you need further 10k cash for minor renovation...installment part, later u decide when the house ready

bankers dont really care, the approvals for housing loans are quite easy since there is a mortgage tied to the bank. the housing loan folks are not really financial fellas, their specialty is in sales.

personally i wont advise TS to get a loan, housing loans are bad the commitments are long and very painful. often the loan outstrips all your income and most of it for major of your lifetime. in sense you are saying you will pay that loan rain or shine, unless of coz you opt for insurance programs and shit but i never feel comfy with that

Ts i would suggest nothing above RM300k, its crazy hard to find but if you cant get it nvm. remember live within your means, not buy a house ebcause u afraid prices will increase then on.

if your pay doesnt increase, (which most people dont) and your cost of living increases, can you imagine how much you have to put on a house where liquid value is 0?