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 Mortgage Loan Package Inquiries v2, Loan agents pls read the 1st post!

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MrKK
post Jun 30 2016, 01:38 PM

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QUOTE(vdude @ Jun 30 2016, 01:31 PM)
Hi. I'm looking forward to buy subsale house (1st property). Price around RM400k-420k.
Need experts advice on the mortgage.

Age 30
Gross pay 4500
Nett pay 3900
Asb (monthly loan RM1100 for RM200k)

Car 700
Credit card outstanding 1000

Tricky part i just switch job for 2 months, probation for 6 months.
Will this affect my mortgage?
*
Hi dear,

Yes, It will affect your mortgage because bank will consider you as non-stable income for the mean time. It is better to get letter of employment from your current employer.

CHEERS biggrin.gif
lifebalance
post Jun 30 2016, 02:04 PM

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QUOTE(vdude @ Jun 30 2016, 01:31 PM)
Hi. I'm looking forward to buy subsale house (1st property). Price around RM400k-420k.
Need experts advice on the mortgage.

Age 30
Gross pay 4500
Nett pay 3900
Asb (monthly loan RM1100 for RM200k)

Car 700
Credit card outstanding 1000

Tricky part i just switch job for 2 months, probation for 6 months.
Will this affect my mortgage?
*
Hi

Your commitment is quite high.

This Asb loan monthly you're repaying 1100 right

You may be only qualified for 180k loan
Madgeniusfigo
post Jun 30 2016, 06:47 PM

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QUOTE(vdude @ Jun 30 2016, 02:31 PM)
Hi. I'm looking forward to buy subsale house (1st property). Price around RM400k-420k.
Need experts advice on the mortgage.

Age 30
Gross pay 4500
Nett pay 3900
Asb (monthly loan RM1100 for RM200k)

Car 700
Credit card outstanding 1000

Tricky part i just switch job for 2 months, probation for 6 months.
Will this affect my mortgage?
*
Dear

Dear,

1. Based on the details given by you, Your max loan eligibility for each bank is as follow:
Rm
AMBANK 108,930.38
HONG LEONG 300,796.21
MAYBANK 185,676.71
OCBC 108,930.38
RHB (525,685.57)
UOB 147,303.55
CIMB 224,049.88
AFFIN 262,423.05


"2. The best bank to get the highest loan would be HLBB. However, each bank has it's own ball game
Different bank will calculate your income and debt accordingly based on each bank's different policy. Hence,
I would need to do a due diligence on your profile before suggesting the best bank to proceed with."

"3. I would need to check you CCRIS, CTOS and income documentation before giving you any assurance.

If everything goes fine, 90% shouldn't be a problem for you."

4. Well, technically your scoring will be lower, however if you could prove your new job 1 month salary and bank statement crediting, bank will use the newest income of your new job. Income will be justifiable.

Need extra document:
1. Job letter offer

. If you need my help, do feel free to contact me. I will be all ears in guiding you towards this rough path.

. I have wrote some articles that help guide first time home buyer to get housing loan, feel free to read it at below link:
5 Tips for employee to prepare for loan application

Few easy tweaks for self employed and freelancer to ensure loan approved


user posted image
regulus2010
post Jul 4 2016, 03:33 PM

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Hi fellow mortgage expert,

Would like some advice and assessment on my loan eligibility done.

Age: 27
Gross : 4,500-
Nett: 3,900-
Working for 1 year

No credit cards
Commitment:
PTPTN outstanding payment

Questions:
1. How much loan can I get, first property?
2. I hear different view on PTPTN affecting loan application, any clarification?

Do let me know wink.gif
Thank you.

MrKK
post Jul 4 2016, 03:36 PM

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QUOTE(regulus2010 @ Jul 4 2016, 03:33 PM)
Hi fellow mortgage expert,

Would like some advice and assessment on my loan eligibility done.

Age: 27
Gross : 4,500-
Nett: 3,900-
Working for 1 year

No credit cards
Commitment:
PTPTN outstanding payment

Questions:
1. How much loan can I get, first property?
2. I hear different view on PTPTN affecting loan application, any clarification?

Do let me know wink.gif
Thank you.
*
Hi dear,

1. Margin of finance for first property is 90%. The loan eligibility based on your details provided, you can loan up to 600k depends on your scoring.

2. Do have any late payment for PTPTN? If no then not an issue.

CHEERS biggrin.gif
lifebalance
post Jul 4 2016, 03:38 PM

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QUOTE(regulus2010 @ Jul 4 2016, 03:33 PM)
Hi fellow mortgage expert,

Would like some advice and assessment on my loan eligibility done.

Age: 27
Gross : 4,500-
Nett: 3,900-
Working for 1 year

No credit cards
Commitment:
PTPTN outstanding payment

Questions:
1. How much loan can I get, first property?
2. I hear different view on PTPTN affecting loan application, any clarification?

Do let me know wink.gif
Thank you.
*
Hi,

You can be eligible for 570k loan amount.

1. For your first property, if it's a subsale, you can entitle for 50% discount on MOT, if undercon don't have.

2. Yes, PTPTN non re-payment previously will affect ur loan, please get it sorted out by paying the outstanding late payment otherwise loan cannot go through.


Madgeniusfigo
post Jul 4 2016, 04:40 PM

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From: Kuala Lumpur



QUOTE(regulus2010 @ Jul 4 2016, 04:33 PM)
Hi fellow mortgage expert,

Would like some advice and assessment on my loan eligibility done.

Age: 27
Gross : 4,500-
Nett: 3,900-
Working for 1 year

No credit cards
Commitment:
PTPTN outstanding payment

Questions:
1. How much loan can I get, first property?
2. I hear different view on PTPTN affecting loan application, any clarification?

Do let me know wink.gif
Thank you.
*
Dear,
1. Based on the details given by you, Your max loan eligibility for each bank is as follow:
Rm
AMBANK 460,478.00
HONG LEONG 652,343.83
MAYBANK 537,224.33
OCBC 460,478.00
RHB 575,597.50
UOB 498,851.17
CIMB 575,597.50
AFFIN 613,970.67


2. The best bank to get the highest loan would be HLBB. However, each bank has it's own ball game
Different bank will calculate your income and debt accordingly based on each bank's different policy. Hence,
I would need to do a due diligence on your profile before suggesting the best bank to proceed with."

3. I would need to check you CCRIS, CTOS and income documentation before giving you any assurance.

If everything goes fine, 90% shouldn't be a problem for you."


4. DO you have fixed deposit, shares, unit trust, or high saving in your bank account? It will help your case. Cheers



. If you need my help, do feel free to contact me. I will be all ears in guiding you towards this rough path.
. I have wrote some articles that help guide first time home buyer to get housing loan, feel free to read it at below link:
5 Tips for employee to prepare for loan application

Few easy tweaks for self employed and freelancer to ensure loan approved

user posted image

CHeers
Vingoh
post Jul 4 2016, 06:49 PM

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s&p 2 people name, mortgage loan can i borrow under 1 people name only?
lifebalance
post Jul 4 2016, 06:59 PM

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QUOTE(Vingoh @ Jul 4 2016, 06:49 PM)
s&p 2 people name, mortgage loan can i borrow under 1 people name only?
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Ya can, shouldn't a problem.
Madgeniusfigo
post Jul 4 2016, 07:42 PM

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From: Kuala Lumpur



QUOTE(Vingoh @ Jul 4 2016, 07:49 PM)
s&p 2 people name, mortgage loan can i borrow under 1 people name only?
*
Dear

1. Are you purchasing a new house or refinance? Different scenario, the method costs is different.

2. If purchasing new house, spa 2 name and loan 1 name. Not a problem


3. Just make sure the loan borrower person knows that he Bares all the payment and risk himself.

Cheers
MrKK
post Jul 5 2016, 12:18 PM

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QUOTE(Vingoh @ Jul 4 2016, 06:49 PM)
s&p 2 people name, mortgage loan can i borrow under 1 people name only?
*
Hi dear,

Yes. You can.

CHEERS biggrin.gif
Vingoh
post Jul 7 2016, 07:35 AM

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Thanks. If i buy house at penang, can i borrow mortgage loan from kl bank?
Madgeniusfigo
post Jul 7 2016, 09:04 AM

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QUOTE(Vingoh @ Jul 7 2016, 08:35 AM)
Thanks. If i buy house at penang, can i borrow mortgage loan from kl bank?
*
Dear

Yes of cos you can.

There isn't any restriction

Cheers!
lifebalance
post Jul 7 2016, 11:05 AM

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QUOTE(Vingoh @ Jul 7 2016, 07:35 AM)
Thanks. If i buy house at penang, can i borrow mortgage loan from kl bank?
*
Yea you can, if you live in KL and invest in Penang.
Vingoh
post Jul 7 2016, 07:19 PM

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Sifu, any bank mortgage loan same as Hong Leong MortgagePlus(HL MortgagePlus)? What disadvantage for hl mortgageplus?

This post has been edited by Vingoh: Jul 7 2016, 07:20 PM
lifebalance
post Jul 7 2016, 07:21 PM

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QUOTE(Vingoh @ Jul 7 2016, 07:19 PM)
Sifu, any bank mortgage loan same as Hong Leong MortgagePlus(HL MortgagePlus)?
*
What feature you looking for ?
Vingoh
post Jul 7 2016, 09:48 PM

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Deposit into my current account, my loan interest will be reduced. For example, if i borrow 500k, i put 100k into current account, my loan interest will calculate base on 400k, saving interest and I can withdraw 100k anytime without charges (if possible), hopefully can deposit any amount any time to saving interest, no lock in period, low interest rate...

lifebalance
post Jul 7 2016, 09:53 PM

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QUOTE(Vingoh @ Jul 7 2016, 09:48 PM)
Deposit into my current account, my loan interest will be reduced. For example, if i borrow 500k, i put 100k into current account, my loan interest will calculate base on 400k, saving interest and I can withdraw 100k anytime without charges (if possible), hopefully can deposit any amount any time to saving interest, no lock in period, low interest rate...
*
All full flexi loan runs similarly. Just engage the banker to apply it for you.

If you're opting for no lock in then try islamic but not all bank islamic loan offer no lock in.
Madgeniusfigo
post Jul 8 2016, 12:26 AM

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QUOTE(Vingoh @ Jul 7 2016, 10:48 PM)
Deposit into my current account, my loan interest will be reduced. For example, if i borrow 500k, i put 100k into current account, my loan interest will calculate base on 400k, saving interest and I can withdraw 100k anytime without charges (if possible), hopefully can deposit any amount any time to saving interest, no lock in period, low interest rate...
*
Dear

1. Yes, all the flexi works this way.

2. For fullflexi. You will have current account, anddlink to loan account. Any amt credited will help you reduce your total interest charges.

3. However not all full flexi is the same, some bank full flexi works just like semi flexi only.

4. no lock in period only applicable for Certain islamic loan and certain bank conventional promotion

Cheers

Vingoh
post Jul 11 2016, 04:56 PM

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Thanks. How to know bank value subsale unit for new condominium?

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