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

nursarahlam
post Jun 22 2017, 12:14 AM
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Hi, anyone familiar with Pr1ma housing loan application? I have questions I would prefer to ask via personal message. Thanks!
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wild_card_my
post Jun 22 2017, 12:16 AM
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QUOTE(nursarahlam @ Jun 22 2017, 12:14 AM)
Hi, anyone familiar with Pr1ma housing loan application? I have questions I would prefer to ask via personal message. Thanks!
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I am familiar with them. In general the process of application is not any different than normal applciations... you can expect 100% margin though. How can I help you?
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lifebalance
post Jun 22 2017, 12:19 AM
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QUOTE(nursarahlam @ Jun 22 2017, 12:14 AM)
Hi, anyone familiar with Pr1ma housing loan application? I have questions I would prefer to ask via personal message. Thanks!
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Hi what info you are looking about prima?
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ssh2222
post Jun 22 2017, 08:49 AM
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QUOTE(freakfingers12 @ Jun 22 2017, 12:02 AM)
Hi, I'm newbie home buyer here. Recently I applied for 90% house loan. My house loan got rejected and they automatically applied 80% for me without consent or notice. Do banks do this? I thought I have to fill another  form for 80% loan? My personal financial plan was that if I cannot get 90% I want to bail from the house project and get back my booking fees back. Just asking here as I do not know the proper procedure. The bank also do not know why I cannot get 90% even after repeal.
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It's not that the form for 80% and 90% are different, as your loan application basically is you requesting a loan from the bank and asking for x amount of loan, and it's up to the bank to offer you what they feel comfortable with in the end.

Banks will usually lower the loan margin if there is something about your profile they're not too comfortable with. Perhaps it's because you have no commitments in your CCRIS (for example), or something else.

You can discuss with the developer and ask for the booking fees back if you cannot get the loan margin you need.

If you haven't applied with other banks, you can still try other banks to see if you can get 90%, but it's more important to understand your case and profile before trying to submit, figure out what caused the 80% (though I understand your banker isn't informing you), and resolve it before applying again. Before I submit cases, I always review the client's profile first so that they have a higher chance of getting the loan margin they want, and also have a reasonable expectation of how much they can get.

Hope this helps. Cheers.
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