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

skynet2020
post Mar 27 2017, 09:08 AM
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Hi Guys & Sifu,

Need your advise on my housing loan application..i plan to buy first house worth at 150k..subsale flat.

My monthly nett pay is around 3.5k..age 26
other loan is ptptn - 130
car - 780
no asb

I got a few question as below:
1) Which bank give the lowest interest rates that I should apply..

2) May I know what is the current range of interest rates between bank now for the house price around that range..

3) Should I choose semiflexi loan or flexi loan>?

4) If i want take out my epf2 account money can I do it after I get the loan approved & after the s&p have been signed.

5)Stamp duty will be free right subject to first house buyer & property price below 300k. I saw it here > http://www.themalaymailonline.com/malaysia...ime-home-buyers

Thanks Shifu

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lifebalance
post Mar 27 2017, 09:15 AM
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QUOTE(skynet2020 @ Mar 27 2017, 09:08 AM)
Hi Guys & Sifu,

Need your advise on my housing loan application..i plan to buy first house worth at 150k..subsale flat.

My monthly nett pay is around 3.5k..age 26
other loan is ptptn - 130
car - 780
no asb

I got a few question as below:
1) Which bank give the lowest interest rates that I should apply..

2) May I know what is the current range of interest rates between bank now for the house price around that range..

3) Should I choose semiflexi loan or flexi loan>?

4) If i want take out my epf2 account money can I do it after I get the loan approved & after the s&p have been signed.

5)Stamp duty will be free right subject to first house buyer & property price below 300k. I saw it here > http://www.themalaymailonline.com/malaysia...ime-home-buyers

Thanks Shifu
*
Hi bro

Should be okay to loan up to 320k

1) Which bank give the lowest interest rates that I should apply..
Most banks now offer 4.1 to 4.4% depending on your loan amount and credit profile

2) May I know what is the current range of interest rates between bank now for the house price around that range..
As per question 1.

3) Should I choose semiflexi loan or flexi loan>?
Since you're a wage earner, just take up semi flexi since you won't be withdrawing money often so you'll save up on the monthly fee

4) If i want take out my epf2 account money can I do it after I get the loan approved & after the s&p have been signed.
Yes you can after you sign the spa can bring it to the Epf counter.

5)Stamp duty will be free right subject to first house buyer & property price below 300k. I saw it here > http://www.themalaymailonline.com/malaysia...ime-home-buyers
Yes correct
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ssh2222
post Mar 27 2017, 11:46 AM
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QUOTE(skynet2020 @ Mar 27 2017, 09:08 AM)
Hi Guys & Sifu,

Need your advise on my housing loan application..i plan to buy first house worth at 150k..subsale flat.

My monthly nett pay is around 3.5k..age 26
other loan is ptptn - 130
car - 780
no asb

I got a few question as below:
1) Which bank give the lowest interest rates that I should apply..

2) May I know what is the current range of interest rates between bank now for the house price around that range..

3) Should I choose semiflexi loan or flexi loan>?

4) If i want take out my epf2 account money can I do it after I get the loan approved & after the s&p have been signed.

5)Stamp duty will be free right subject to first house buyer & property price below 300k. I saw it here > http://www.themalaymailonline.com/malaysia...ime-home-buyers

Thanks Shifu
*
Hi,

At your current income, getting the loan for this property wouldn't be an issue.

#1 & #2) The rates generally would be around 4.2-4.4%, though there are other factors such as your profile that will determine the rate offered.

3) If you don't plan to use the bank account to deposit/withdraw money often, then you can go for semi-flexi, but if you decide you want to use the bank account for a lot of transactions, you can go for full flexi.

4) You can do it after S&P is signed and stamped.

5) Yes. Your case meets the requirements.

Cheers.
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Madgeniusfigo
post Mar 27 2017, 01:41 PM
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QUOTE(UsopSontorian @ Mar 25 2017, 09:45 PM)
Thanks ! Why need to remove the asb tho ?
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Dear

as mentioned,

1. Is this one of the few options to improve your DSR, so that you could achieve the loan mount you wish to get

Cheers

QUOTE(DavidAw @ Mar 26 2017, 02:06 AM)
What is the maximum age for joint name applicant? Can be older than 65 if still have income as wage earner ?
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Dear

1. Yes still possible but if his income is much higher than you and stornger, the loan tenure might drop down to 5 years, there's always this possiblity

QUOTE(DavidAw @ Mar 26 2017, 10:59 AM)
But was informed by 2 bankers that it's 65. Can PM me?
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QUOTE(UsopSontorian @ Mar 26 2017, 02:03 PM)
My apologies,

1000 Commitment are monies for my mom and i used her car. Yup act tbh down payment (have sufficient in saving but reluctant to) is not a problem but i prefer for full loan
*
If remove the RM1000, as the car not under your name in ccris, RM280K is possible

Cheers


QUOTE(skynet2020 @ Mar 27 2017, 10:08 AM)
Hi Guys & Sifu,

Need your advise on my housing loan application..i plan to buy first house worth at 150k..subsale flat.

My monthly nett pay is around 3.5k..age 26
other loan is ptptn - 130
car - 780
no asb

I got a few question as below:
1) Which bank give the lowest interest rates that I should apply..

2) May I know what is the current range of interest rates between bank now for the house price around that range..

3) Should I choose semiflexi loan or flexi loan>?

4) If i want take out my epf2 account money can I do it after I get the loan approved & after the s&p have been signed.

5)Stamp duty will be free right subject to first house buyer & property price below 300k. I saw it here > http://www.themalaymailonline.com/malaysia...ime-home-buyers

Thanks Shifu
*
Dear skynet2020,
1. Rm
A*BANK 240,209.56
H*NG LE*NG 363,070.19
M*YBANK 148,879.52
*CBC 210,076.86
R*B 336,981.85
U*B 240,675.52
C*MB 334,331.85
AFF*N -
PB* 334,331.85
HSB* 210,076.86
Things to take note of based onmy max loan calculation
" -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."

" - 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."


1) Which bank give the lowest interest rates that I should apply..

Don't go to RHB, as your loan amount, it will give you the highest rate!

Go for CIMB,MBB,HLBB!

2) May I know what is the current range of interest rates between bank now for the house price around that range..


4.4-6%

3) Should I choose semiflexi loan or flexi loan>?

Full flexi:

1) current account tied to loan account
2) auto debit from current account at month end and interest is calculated based on outstanding balance minus amount in current account
3) maintenance charge of RM10 per month
4) setup/ processing fee of Rm200 (certain bank)
5)The liquidity comes in the form of an ATM card or a linked CASA account to the housing loan. 
Example: You have a shop that is opened Monday to Satuday, rest on Sunday. On Saturday, you deposit all your proceeds of the week into the flexi account, on Sunday, you would save [(your-HL-interest-rate)/365]*AmountDeposited worth of interest. On Monday, you withdraw the money to run your business
6) Withdrawal of money or crediting of money through ATM,CHEQUE,OVER THE COUNTER, or online

Semi Flexi

semi flexi package typically has these features:
1) requires you to phone in to indicate the extra payment as early settlement of advance payments
2) if you fail to indicate, you will be charged 1% (some banks do this afaik)
3) if you indicate advance payment, no additional interest is saved as "advance" payment will only be credited to your loan account when it reaches your cycle date, so it is plain advance payments. and must be in multiple of your monthly payment.
4) For redrawable prepayments, you need to indicate separately and Redraw charge of RM50 is imposed (M*B charge Rm25)
5) Withdrawal of money or crediting of money through Cheque or Over the counter


4) If i want take out my epf2 account money can I do it after I get the loan approved & after the s&p have been signed.

Yes, that's the normal procedure!

Cheers

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lifebalance
post Mar 27 2017, 01:54 PM
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QUOTE(UsopSontorian @ Mar 26 2017, 01:03 PM)
My apologies,

1000 Commitment are monies for my mom and i used her car. Yup act tbh down payment (have sufficient in saving but reluctant to) is not a problem but i prefer for full loan
*
Hi bro

Based on my analysis you should be able to get your loan approved for 280k since 1k is not really the actual bank commitment

Let me know if you have any further question on the loan application

This post has been edited by lifebalance: Mar 27 2017, 02:18 PM
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kwyyang
post Yesterday, 09:41 AM
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Dear members,

Just need some advise if I'm good for mortgage application. Me and my wife for a house around RM300k.

My financial situation:
1. own business, started apr 2016.
2. bank in my own salary since oct 2016, at RM5k to RM8k per month.
3. EA previously total salary 2014: RM66k, 2015: RM63k, 2016: RM45k.
4. Business profile, gross balance yield of RM5k to 8k per month since Oct 2016, after all expenses and my salary
5. Total cash in business, RM70k (yet to deduct deposit of RM30k). Total cash personally, RM3k.
6. Commitment: RM1500 for another mortgage loan, RM244 for hire purchase


Wife:
1. Just started a new job 1 Month: RM5300
2. Previous 4 years with a company, last drawn: RM4200 (Feb 2017)
3. Salaried earner, settled car loan.

Just wonder if we could secure another 300k mortgage loan for 30 years.
Thanks.
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lifebalance
post Yesterday, 09:47 AM
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QUOTE(kwyyang @ Mar 28 2017, 09:41 AM)
Dear members,

Just need some advise if I'm good for mortgage application. Me and my wife for a house around RM300k.

My financial situation:
1. own business, started apr 2016.
2. bank in my own salary since oct 2016, at RM5k to RM8k per month.
3. EA previously total salary 2014: RM66k, 2015: RM63k, 2016: RM45k.
4. Business profile, gross balance yield of RM5k to 8k per month since Oct 2016, after all expenses and my salary
5. Total cash in business, RM70k (yet to deduct deposit of RM30k). Total cash personally, RM3k.
6. Commitment: RM1500 for another mortgage loan, RM244 for hire purchase
Wife:
1. Just started a new job 1 Month: RM5300
2. Previous 4 years with a company, last drawn: RM4200 (Feb 2017)
3. Salaried earner, settled car loan.

Just wonder if we could secure another 300k mortgage loan for 30 years.
Thanks.
*
Hi,

Bank cannot consider your income yet since your business is less than 2 years, no point banking in your own salary, banks want to see income tax declaration from you.

It seems your wife profile is better in applying for this loan solely under her name however you may put both of your name under SPA depending on your intention.

Let me know if you need any further assistance
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kwyyang
post Yesterday, 09:54 AM
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QUOTE(lifebalance @ Mar 28 2017, 09:47 AM)
Hi,

Bank cannot consider your income yet since your business is less than 2 years, no point banking in your own salary, banks want to see income tax declaration from you.

It seems your wife profile is better in applying for this loan solely under her name however you may put both of your name under SPA depending on your intention.

Let me know if you need any further assistance
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Sure. Shall let you know again. As the new project is using their own panel bankers.
Thank you much for the advise.
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Madgeniusfigo
post Yesterday, 10:14 AM
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QUOTE(kwyyang @ Mar 28 2017, 10:41 AM)
Dear members,

Just need some advise if I'm good for mortgage application. Me and my wife for a house around RM300k.

My financial situation:
1. own business, started apr 2016.
2. bank in my own salary since oct 2016, at RM5k to RM8k per month.
3. EA previously total salary 2014: RM66k, 2015: RM63k, 2016: RM45k.
4. Business profile, gross balance yield of RM5k to 8k per month since Oct 2016, after all expenses and my salary
5. Total cash in business, RM70k (yet to deduct deposit of RM30k). Total cash personally, RM3k.
6. Commitment: RM1500 for another mortgage loan, RM244 for hire purchase
Wife:
1. Just started a new job 1 Month: RM5300
2. Previous 4 years with a company, last drawn: RM4200 (Feb 2017)
3. Salaried earner, settled car loan.

Just wonder if we could secure another 300k mortgage loan for 30 years.
Thanks.
*
QUOTE(kwyyang @ Mar 28 2017, 10:54 AM)
Sure. Shall let you know again. As the new project is using their own panel bankers.
Thank you much for the advise.
*
Dear kwyyang,

1. Based on the details given by you, Your max loan eligibility for each bank is as follow:
Rm
A*BANK 910,780.56
H*NG LE*NG 1,138,984.29
M*YBANK 678,834.30
*CBC 883,436.29
R*B 1,128,328.96
U*B 713,976.29
C*MB 1,127,328.96
AFF*N -
PB* 1,127,328.96
HSB* 883,436.29

Things to take note of based onmy max loan calculation
" -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."

" - 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."


2. Consider your wife has no commitment, above is the max loan amount for joint name.

3. For your income, I would need to look at your SSM and business account to verify the income.

4. For panel banker, it means developer accept any banker from that bank to process the case, not just the banker who stands there or introduce by developer. Anyone can proceed with your case.


Any further inquiries, do voice out

Cheers mate
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kwyyang
post Yesterday, 11:54 AM
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QUOTE(Madgeniusfigo @ Mar 28 2017, 10:14 AM)

Dear kwyyang,

1. Based on the details given by you, Your max loan eligibility for each bank is as follow: 
  Rm
A*BANK  910,780.56 
H*NG LE*NG  1,138,984.29 
M*YBANK  678,834.30 
*CBC  883,436.29 
R*B  1,128,328.96 
U*B  713,976.29 
C*MB  1,127,328.96 
AFF*N  -   
PB*  1,127,328.96 
HSB*  883,436.29 

Things to take note of based onmy max loan calculation 
\" -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.\" 
 
\" - 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.\" 
2. Consider your wife has no commitment, above is the max loan amount for joint name.

3. For your income, I would need to look at your SSM and business account to verify the income.

4. For panel banker, it means developer accept any banker from that bank to process the case, not just the banker who stands there or introduce by developer. Anyone can proceed with your case.
Any further inquiries, do voice out

Cheers mate
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Thank you Evan for the detailed analysis.
Shall get to you again if still no feedback from the current bankers.
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Madgeniusfigo
post Yesterday, 12:21 PM
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QUOTE(kwyyang @ Mar 28 2017, 12:54 PM)
Thank you Evan for the detailed analysis.
Shall get to you again if still no feedback from the current bankers.
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Dear

No problem, hope it helps

any more questions, do ask

am here for you biggrin.gif


Cheers mate!
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lifebalance
post Yesterday, 01:29 PM
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QUOTE(kwyyang @ Mar 28 2017, 09:54 AM)
Sure. Shall let you know again. As the new project is using their own panel bankers.
Thank you much for the advise.
*
Panel banks to a project would mean as long as the bank is financing that project you can engage any banker who is associated with that bank for loan application and not only these based at the sales gallery.

On the side note,

Actually the analysis is not that detailed its just a copy paste of cluttered info which I don't deem it as professional but soliciting for sales in here. I shall bring this up to the admin since mod refuse to curb this issue.

Good luck.
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Madgeniusfigo
post Yesterday, 01:42 PM
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QUOTE(lifebalance @ Mar 28 2017, 02:29 PM)
Panel banks to a project would mean as long as the bank is financing that project you can engage any banker who is associated with that bank for loan application and not only these based at the sales gallery.

On the side note,

Actually the analysis is not that detailed its just a copy paste of cluttered info which I don't deem it as professional but soliciting for sales in here. I shall bring this up to the admin since mod refuse to curb this issue.

Good luck.
*
1. I think you assume yourself have the best analysis in the world. Accusing everyone here to be at fault providing statement...

2. Had been seeing how you flame people whom asking questions here..when they doubt your capability, you flame them to the roof.. that's professional..

3. Accusing soliciting for sales? Do report on your baseless assumption.

4. Messy? well, in order to calculate the max loan accurately, there's myriad of information to input. I don't expect people to understand it, but to let them verify on the amount that I keyed in, so that no misinformation.

Well, if it's messy to you.. so be it... Important is that you are happy here.

5. Am here to help netizen to solve their problems and their inquiries.

Anyway, keep going rage at everyone here Dude.. I am here to help people solve problem with my expertized... not to chase for ego fame and selling AIA protection...

Have a nice day


Cheers

This post has been edited by Madgeniusfigo: Yesterday, 01:45 PM
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ngph988
post Yesterday, 03:04 PM
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QUOTE(Madgeniusfigo @ Mar 28 2017, 01:42 PM)
1. I think you assume yourself have the best analysis in the world. Accusing everyone here to be at fault providing statement...

2. Had been seeing how you flame people whom asking questions here..when they doubt your capability, you flame them to the roof.. that's professional..

3. Accusing soliciting for sales? Do report on your baseless assumption.

4. Messy? well, in order to calculate the max loan accurately, there's myriad of information to input. I don't expect people to understand it, but to let them verify on the amount that I keyed in, so that no misinformation.

Well, if it's messy to you.. so be it... Important is that you are happy here.

5. Am here to help netizen to solve their problems and their inquiries.

Anyway, keep going rage at everyone here Dude.. I am here to help people solve problem with my expertized... not to chase for ego fame and selling AIA protection...

Have a nice day
Cheers
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UsopSontorian
post Today, 12:33 AM
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