Hi there,

I would like to ask on what bank consider's as a commitment as a whole on a person's financial status ?

Ive just step into Hong Leong, they advise they will consider a person @ RM750 for personal monthly commitments + other commitments

and also just step into CIMB, it will take into consideration of 5% of credit card limits.

i would like to know what are the considered items and percentage like ?

eg :

- home loans - monthly
- personal loans - monthly
- car loans - monthly
- credit card loans - monthly
- credit card limit - 5% monthly
- personal general expenditure @ avg RM750 per individual per month

appreciate your advise and thoughts ..

- this is for own financial health calculation to obtain loan eligibility ..

just my thoughts, i'm not a banker, but it sounds like C is buying the property from B already, isn't that subsale ?
C is still getting the loan off to pay B right ?

oh sorry.. i meant C re-mortgage the properties, but the loan money received will be 'given' to B.

Everything thats in your ccris

OD 5% from credit limit
Cr card - 5% from outstanding
Personal loan mininmum payment
Home loan - calculation based on how many years left and up to ccris outstanding
* may vary if provided existing outstanding statement & bank offer letter

The new bank loan installment will be taken into commitments

Income not exceed 3500 should nt exceed 40% of yr salary
Income exceed 3500 should nt exceed 70% of your salary

Personal general expediture will not be taken into commitments

Cheers

Hi singdreams, thank you so much !

OD means overdraft right ?
Credit Card, just now CIMB calculate based on my total limit
personal loan , minimum would also translate to monthly repayment right ?
home loan - how do they measure or calculate based on years left ?

Hi guys,

Need your help for my plan to refinance a double story house.

Owing bank about 210k and market price of the house is around 450k (browse through mudah and iproperty so not sure it's 100% reliable or not)

Plan to refinance for 20 years with the excess money for other investment and house renovation.

Please advice your bank package for a 90% loan if possible.

TQ in advance

Hi Bankers,

I'm planning to buy a subsales terrace house @ RM448K in Sg Long. Please furnish me the best morgage loan from your side. I wish to have the maximum loan amount for the property and would prefer CIMB Bank as my priority as most of my transaction is via this bank. I also wish to have the facilities of all the fees (eg: SP, Legal fees and etc..) to be absorb part of the loan and also include the renovation fees as well. Please PM me the best suitable package on this. Location CIMB prefer in Klang Valley.

P/S: Other banks may consider too!

Thank you

Hi, I'm looking to finance my house in saujana rawang, zara housing project under glomac.

House retail at rm856k, looking to finance at RM645k which is around 75% MOF.

What's the best rate you agents can give ? Looking for 35 years tenure and my age is 30. Should be no problem to get 35 years.

Preferably a Full Flexi loan with current account.
Pls PM me with your offer.
Thanks.

Im buying a new house with the price of 305k, for those who has any great offer for the loan package, kindly pm me.
Prefer 100% mof. Btw this is my 1st house.
Tq

This post has been edited by pakutekan: Aug 21 2013, 11:08 AM

I have a property A, still service the loans and planing to sell the property A and buy property B. the value of prop A around 370k and the props B about 460k, to avoid the troublesome of loans applications can i just transfer the loans for props A to B ? Using the same bank which serve my loans currently.......

Is this workable......? Thanks

I'm planning to buy my 2nd house
Age:1982
Stop paying EPF 3++ years

Location: Klang Parade Area, Selangor
Prop Type: Sub-sale DSLH
Loan Tenure: Looking for highest loan tenure possible (35yrs?)
Loan Type: Full flexi loan
Purchase Price: RM400K
MOF: looking at 90-95%

Existing have 1 house loan with STD CTD with commitment of monthly ~2k

Please provide loan package. Thanks.

Hello,

The house is called Zara-0 isn't it? A bunch of bungalows in Rawang? Yeah I have processed some of the loan applications for buyers there. Our banks are panel for this house, so no problem.

1. If this is your 1st or 2nd house, it shouldnt be a problem to get 75% loan

2. Yes, you can get 35 years, the maximum tenure

3. A fixed best of BLR-2.35%, but it can get better depending on your risk profile. Will need to apply you to several banks though.

Hello Chaos Tan!

Well allow me to showcase what I can get for you. I am not from CIMB, but I think that is okay because it is good to open yourself up to good and better offers isnt it?

1. As far as rates are concerned, I can get up to BLR-2.45% but that would depend on your credit profile as well.

2. But at the price you are getting, I can confirm you can get AT LEAST BLR-2.35%

3. Maximum loan amount? Well you can get 90% of the house price, plus 4% for the loan agreement, as well as up to 10% for the MLTA

4. Renovation is where OCBC excels. You can get up to 30% of the house price to be you renovation loan. Out of this 30%, a portion will be personal contingencies (you can withdraw this as cash and spend as you like), while the rest will be renovation loan that require a registered renovation-people to withdraw on your behalf after getting your green light.

5. The renovation loan will be rated at BLR - 0%, so it is effectively 6.6%, tenure of 10 years

6. So for your house, you can get RM134,000 as your renovation loan

Thank you!

Hello Mr. Baka Bakashi, I hope that is not your real name

1. Sure I can help. But the selling price on Mudah/iprop etc. is usually inflated because they expect buyers to nego, regardless, for a loan application, us bankers would need to use a valuer's service to get the loan amount. I usually get a matching price although it can never be guaranteed

2. 20 years? Okay, If you are younger than 35 you can refinance all the way to the maximum of 35 years. Actually, with flexi-accounts, it can be said that it is better to refinance/finance for the longest possible tenure, but pay as if you refinanced/financed the property for the target tenure - doing this will end the tenure to 20 years, and not 35 years, since all the extra money goes into capital repayment. You will get the benefit of being flexible that way.

3. Renovation! Sure, with OCBC/Al-Amin, you can get up to 30% of your house value as a renovation loan, with a maximum tenure of 10 years, and rate of BLR - 0% = 6.6%

4. 90% loan should be fine as long as this is your 1st or 2nd house only

Ah yes, different banks have different ways of calculating your current commitments. But from a couple of banks that I know of:

1. For a number of banks that I know of, personal loan will be calculated based on 8% interest per annum, capped at 7 years. Calculated as if it was a hire-purchase loan, so if your personal loan limit is RM50,000

8% x RM50,000 = RM4,000
RM4,000 x 7 years = RM28,000
Total payments: RM50,000 + RM28,000 = RM78,000

Calculated personal loan monthly payment: RM78,000/84 months = RM926/month

I am not saying which bank calculates like this ya, but just saying how it is.

2. For a number of banks that I know of, HL loan will be calculated at the rate of the BLR, with a tenure of 30 years!

In conclusion, banks have differing methods of calculating the DSR. You would probably have a good chance if you try to get it from banks that offer high DSR rates

For example, OCBC offers:

Salary < RM3000 = 60% DSR
Salary RM3000 to RM8000 = 80% DSR
Salary > RM8000 = 90% DSR

1. Yes, C will have to buy the house from A

2. With OCBC/Al-Amin:

a) Rate will depend on the laon amount (which includes the lawyer and insurances if you need them)
b) Tenure will be 35 years max, or until you reach 70 years old whichever is earlier
c) Entry cost: the Facilities Agreement legal fees can be covered into the loan, the insurances can be either MRTA or MLTA and OCBC does not force you to take either insurance, it is up to you. She is responsible only for the SPA fees

3. Yes it does, and if you want to purchase it as the First-time-home-buyer scheme, it will have to be priced at RM100k to RM400k. Her salary is within the acceptable range for the scheme, she can probably get 100% loan if she does apply. But with the scheme, nothing else can be included into the loan, such as the legal fees and insurance has to be paid in cash.

But hey, since she is buying the house below market value, dont go for the 100% loan and just go for the 90% one.

I hope that helps.

Ah, Shane Lai, I must have missed you.

If it is not too late, OCBC offers:

1. 35 years tenure or until you are 70 years old

2. 90% margin if this is your first or second house

3. Rate of BLR - 2.35%

4. Option for a renovation loan of a maximum of RM200k, at the rate of BLR - 0% = 6.6% for 10 years tenure

If you are still available and interested, i'd like to help with the application.

Thank you.

Hello!

1. Since your age 31, you can borrow all the way to maximum tenure: 35 years. To those who do not know, for most banks, you can borrow for the maxim of 35 years AND until you are 70 years old.

2. Full flexi it is.

3. MOF: 90% it is if this is only your first or 2nd house. With OCBC and OCBC Al-Amin, you can get up to 4% extra financing for your lawyer fees, as well as 10% for your insurance.

SO you have stopped paying EPF? Are you running your own business? Are you living based on salary (or director's fees) or commission?

Thank you

It depends, some banks allow upgrades while others do not. May I know which bank the house loan is under?

Alternatively, you can sell the current house now, and once you get the Sales-purchase Agreement (SPA) between you and the buyer of your old house, you can use that document as PROOF that you have sold the house, and the bank for your new house will say "Oh, you have sold that old house, so this loan commitment for the old house in your CCRIS can be ignored"

Hello, I have PM-ed you but I will also post it here for the benefit of EVERYONE

1. The price range for a house for the first-home-scheme (Skim Rumah Pertamaku) is from RM100k to RM400k. So you are good there.

2. The age limit for the scheme is 35 years old, have you reached 35 yet? No? Good

3. The loan tenure will be limited to 35 years, AND until you are 65 years old.

4. For a single applicant, the maximum gross salary that you can have to qualify for the scheme is RM5000, and if you join it with another person, the maximum is RM10,000 for both persons

5. The loan rate will be the same as our other loan facilities, no penalty for those asking for 100% loan

Did I miss anything? Call me if you are interested in my service. I'll explain till you have no doubts

It is not that bad, but with OCBC Al-Amin

1. You would not have the locking period at all

2. You have the option of 30% Renovation loan, rate of BLR - 0% = 6.6%, and 10 years tenure

3. Up to 10% of the house price can be used for your MLTA insurance payment, or that OCBC does not force you to take any insurance at all

The house price limit for 100% loan is RM400k, so your house price is out of the range already.

Your total net income of RM4335 is within the guidelines for 100% loan.

Good day to you too, I hope this reply gets to you in a timely manner

1. Of couse you could. In fact, don't put it in a bank, put it in a higher yielding havens like short-term fixed deposit, or Amanah Wawasan, or if you are a Bumi, in the ASB! If you keep the money in the savings account, you will get what, 0.2%?

2. Yes you could! This is called third-party financing! And she can finance it to whatever value she wants. If the bank value the house at RM250k, she can refinance it at RM100k, 200k, or the full 90% of RM225k!

3. Transfer of title? You are not sellign the house so there wont be that. There will be no SPA as well, only Loan Agreements between you and the bank! The house will still be yours and your wife's only that your CCRIS will not be affected, and only her income and commitments will be looked at by the bank.

4. Ah, this is a hard question to answer, but I'd say from the day of offer letter acceptance to cash in hand ranges between 1 and a half month to 3 months depending on factors like the old bank (they hate when you refinance), pejabat tanah, the new bank, and the lawyer.

But hey, since you already have the house paid up, I would say it will be pretty quick because you have no "old bank" to slow you down. It is just between the new bank and you!

5. Ill need to check on this, but since I am this late replying your message, if you already have refinanced that it's all good for you. Drop me a line if you haven't, then I can value it for you

Thank you.

Is there any agent servicing Ipoh, Perak area? I am planning to purchase a property, selling price is 95k. Looking at 90% financing (or higher, if available). PM me if you need more details. Rather urgent. Thanks.

Hello, I hope I got to you in a timely manner

1. Sure, I can help with refinancing the house

2. Get me the full address, house type, and if there is any renovation done to the house. Please state the age of the house as well as if the property is MASTER or already converted to INDIVIDUAL/STRATA title.

Thanks.

Hello,

1. 24 is certainly not underaged for a loan. That banker is being ridiculous!

2. If you can give me a list of your commitments per month in detail, then I can give you a rough figure as to how much both of you can loan.

Thanks.

1. I recommend getting a tenure for as long as possible. With flexi loan payback, it is possible to finish your tenure just as long as someone who did initially choose the shorter tenure, but during the course of the loan, you can have the flexibility to pay a little less in case of emergency or if you have a business you want to set up and require a little cash in hand

2. Fixed allowances and annual bonuses within the past 6 months CAN be included into the housing loan income calculation

3. Yes, EPF account 2 can be withdrawn to buy a house, either for downpayment or to lower your margin of financing (MOF)

4. Your income... is that RM4000 before you minus EPF and TAX of after you minus the items? I did a rough calculation, at RM4000 income (i consider this as net income for this calculation), after applying DSR of 80% and deducting your car payment, you can borrow up to RM545,000 MAX. So you are short by a little bit there.

Joint-name would be prefarable

awesome, what other banks offer high DSR ?
DSR means the commitment right ?

My first house is joint name me + my spouse
Therefore my 2nd house never get to enjoy the 50% off Stampetc and other benefits..

If to change the first house owner now, would it be a hassle?

I need to check on that, I may sound biased if I say OCBC is the only one that offer DSR as high as that, but I dont know of any other banks that offer the same

As for the DSR, it means the portion of your net income that can be used as loan repayment. So if you have high commitments, or you need to get a bigger loan, going to banks that can give you higher DSR % can help you.

awesome, thank you so much, i've been to :

HL 75%
CIMB 80%
UOB 75%

if current commitments + new loan hits above the %, it may be a bit tougher to get approval, that's what i understand.

I'm looking for a banker to apply for my housing loan for property Price of 400000

Just got approval from Maybank and Hong Leong

But I am looking for alternative banks to see any better deals

BTW, I only have hard copy of my documents with me and I am staying near Kelana Jaya LRT

So if any banker can offer better deals, please PM me or email me yhsoon@hotmail.com so that I can arrange meet up at Kelana Jaya (weekend or night) or SOGO KL(working hour) and pass you the hard copy of the documents

THanks