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

noiseemunkee
post Sep 19 2017, 10:46 AM

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hi, whats the best rate for 270k loan rate that banks are offering now for full flexi facility, with minimum mrta/mlta?.
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Madgeniusfigo
post Sep 19 2017, 12:09 PM

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QUOTE(jackchong890 @ Sep 19 2017, 09:23 AM)
hi Sifu,

I got a home loan from CIMB ... boro 90% 300k... 4.45% is it this rate is high? should i try submit my doc to another bank?
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QUOTE(lifebalance @ Sep 19 2017, 09:29 AM)
I would advise you to submit
PBB 4.22
MBB 4.25
RHB 4.30
*
Dear jackchong890,

1. It really depends on your profile

2. Certain profile for certain bank is good

3. 4.45% not the best, but is good enough

4. The rate shown by lifebalance is just a rough estimation of the interest rate, bank have to factors in alot of element before issue you the exact rate.

Cheers



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lifebalance
post Sep 19 2017, 02:16 PM

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QUOTE(noiseemunkee @ Sep 19 2017, 10:46 AM)
hi, whats the best rate for 270k loan rate that banks are offering now for full flexi facility, with minimum mrta/mlta?.
*
Best rate for 270k is
PBB 4.22%
MBB 4.25%
RHB 4.3%

Min MRTA/MLTA applicable.
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mittaya
post Sep 19 2017, 04:34 PM

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I will like to know how the loan rate effect overall (over 20 to 30 year for a property)
As many people request lowest loan rate as the rate eventually change time to time.

For sample loan rate given from bank 4.35% compare 4.15%

Hope all sifu here can share abit. thanks.

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lifebalance
post Sep 19 2017, 04:39 PM

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QUOTE(mittaya @ Sep 19 2017, 04:34 PM)
I will like to know how the loan rate effect overall (over 20 to 30 year for a property)
As many people request lowest loan rate as the rate eventually change time to time.

For sample loan rate given from bank 4.35% compare 4.15%

Hope all sifu here can share abit. thanks.
*
user posted image

When you sign up for the rate @ 4.15% compared to 4.35%, you're basically locking in your interest rate at a slightly lower rate when you sign up for 4.15% instead of 4.35%.

Because when the interest rate does increases. 4.15% > 4.35% while 4.35% > 4.55% would mean that you still pay at an overall smaller interest rate although still subject to the fluctuating interest rate.

Therefore if you do not want to get into uncertainty on the floating interest rate in the long run then it's advisable to take a Fixed Rate loan with AIA.
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Madgeniusfigo
post Sep 19 2017, 05:05 PM

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QUOTE(AskarPerang @ Sep 19 2017, 02:15 PM)
Hi to all mortage specialist here.

Apart from PBB doing promotion now, wandering is Maybank currently doing any housing loan promotion at the moment? heard from a friend but unable to get the source. What will be the minimum loan amount to entitle for that Maybank promotion (if there is)?
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QUOTE(mittaya @ Sep 19 2017, 05:34 PM)
I will like to know how the loan rate effect overall (over 20 to 30 year for a property)
As many people request lowest loan rate as the rate eventually change time to time.

For sample loan rate given from bank 4.35% compare 4.15%

Hope all sifu here can share abit. thanks.
*
QUOTE(lifebalance @ Sep 19 2017, 05:39 PM)
user posted image

When you sign up for the rate @ 4.15% compared to 4.35%, you're basically locking in your interest rate at a slightly lower rate when you sign up for 4.15% instead of 4.35%.

Because when the interest rate does increases. 4.15% > 4.35% while 4.35% > 4.55% would mean that you still pay at an overall smaller interest rate although still subject to the fluctuating interest rate.

Therefore if you do not want to get into uncertainty on the floating interest rate in the long run then it's advisable to take a Fixed Rate loan with AIA.
*
Dear AskarPerang

1. Maybank promotion or HLBB promotion, usually they will give you first year 4.1-4.2% , next yer onwards it iwll be floating and rate on board rate which will range 4.2-4.45% based on loan amount

2. Loan amount not less RANGE than RM200K

3. if fixed rate like AIA loan, yes you will ge fixed at higher premium than board, but it will lock at tht rate, if the market rate goes down, you will be paying premium, if goes up, you will be safe t the fixed rate.

4. hence it depends on your investment perspective, thre's no sure win ways, all based on investment perspective, any method will go south if market turns around.

Cheer

Dear mittaya,

1. Different do look at the total loan payable

user posted image
user posted image

Cheers
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chaos999
post Sep 19 2017, 06:51 PM

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Hi, enquiry for my scenario below?
Any recommended banks

Monthly: RM 5,800 ( Contractual 1 month, RM75400 - Annual )
Net : RM 4,800 ( - EPF & PCB )
Commitment : None
Credit Card : RM 500 on average, paid on time
PTPTN : Paid in lump sum

Loan Amount : RM 440,000 (@90%)

Joined a MNC as new employee since 10th July'17. One of the banker stated might be quite tough as not confirmed yet
However, was bought over by the company and income did not stop

Worked in previous company for 2 years 9 months prior

Any banks to recommend that has better odds for me?

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lifebalance
post Sep 19 2017, 06:55 PM

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QUOTE(chaos999 @ Sep 19 2017, 06:51 PM)
Hi, enquiry for my scenario below?
Any recommended banks

Monthly: RM 5,800 ( Contractual 1 month, RM75400 - Annual )
Net : RM 4,800 ( - EPF & PCB )
Commitment : None
Credit Card : RM 500 on average, paid on time
PTPTN : Paid in lump sum

Loan Amount : RM 440,000 (@90%)

Joined a MNC as new employee since 10th July'17. One of the banker stated might be quite tough as not confirmed yet
However, was bought over by the company and income did not stop

Worked in previous company for 2 years 9 months prior

Any banks to recommend that has better odds for me?
*
user posted image

Should be no issue to take up the loan since you're also working with a MNC company.

Try banks like PBB, MBB, RHB, CIMB, HLB
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Madgeniusfigo
post Sep 19 2017, 08:19 PM

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QUOTE(chaos999 @ Sep 19 2017, 07:51 PM)
Hi, enquiry for my scenario below?
Any recommended banks

Monthly: RM 5,800 ( Contractual 1 month, RM75400 - Annual )
Net : RM 4,800 ( - EPF & PCB )
Commitment : None
Credit Card : RM 500 on average, paid on time
PTPTN : Paid in lump sum

Loan Amount : RM 440,000 (@90%)

Joined a MNC as new employee since 10th July'17. One of the banker stated might be quite tough as not confirmed yet
However, was bought over by the company and income did not stop

Worked in previous company for 2 years 9 months prior

Any banks to recommend that has better odds for me?
*
Dear chaos999,

user posted image

1. Based on the details given by you, Your max loan eligibility for each bank is as follow:
Bank Loan amount
A*BANK 726,033.33
H*NG LE*NG 895,220.83
M*YBANK 733,915.00
*CBC 728,915.00
R*B 789,312.50
U*B 728,915.00
C*MB 789,312.50
AFF*N -
PB* 789,312.50
HSB* 728,915.00

2. new job is not an issue, provided you have paid first month income with credited to bank, your job initiate on 10th July'17. So it isn't an issuee

3.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."

Cheers
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chaos999
post Sep 20 2017, 12:04 AM

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Thanks for the concise reply
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mittaya
post Sep 20 2017, 12:44 AM

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QUOTE(Madgeniusfigo @ Sep 19 2017, 05:05 PM)
Dear AskarPerang

1. Maybank promotion or HLBB promotion, usually they will give you first year 4.1-4.2% , next yer onwards it iwll be floating and rate on board rate which will range 4.2-4.45% based on loan amount

2. Loan amount not less RANGE than RM200K

3. if fixed rate like AIA loan, yes you will ge fixed at higher premium than board, but it will lock at tht rate, if the market rate goes down, you will be paying premium, if goes up, you will be safe t the fixed rate.

4. hence it depends on your investment perspective, thre's no sure win ways, all based on investment perspective, any method will go south if market turns around.

Cheer

Dear mittaya,

1. Different do look at the total loan payable

user posted image
user posted image

Cheers
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There is no difference... sweat.gif sweat.gif
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Madgeniusfigo
post Sep 20 2017, 12:56 AM

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QUOTE(mittaya @ Sep 20 2017, 01:44 AM)
There is no difference... sweat.gif  sweat.gif
*
HAHAHAHAHHA, I think when I snap, my phone jammed.


Here you go!

user posted image


1. Bear in mind, this is 2 different loan with 2 diff packages

2. Installment constant

3. Look at it as first year, and the total interest you paid!

Cheers

This post has been edited by Madgeniusfigo: Sep 20 2017, 12:57 AM
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mittaya
post Sep 20 2017, 01:32 AM

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QUOTE(Madgeniusfigo @ Sep 20 2017, 12:56 AM)
HAHAHAHAHHA, I think when I snap, my phone jammed.
Here you go!

user posted image
1. Bear in mind, this is 2 different loan with 2 diff packages

2. Installment constant

3. Look at it as first year, and the total interest you paid!

Cheers
*
Thanks.

mean over this 20 year loan period if i choose 4.35 rate i have pay more RM12K...compare 4.15.. is an amount too..
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Madgeniusfigo
post Sep 20 2017, 04:32 AM

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QUOTE(mittaya @ Sep 20 2017, 02:32 AM)
Thanks.

mean over this 20 year loan period if i choose 4.35 rate i have pay more RM12K...compare 4.15.. is an amount too..
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Dear

Yes you are right, due to reducing balance interest!

but the amount it's stretched over 20 years.

Cheers
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lifebalance
post Sep 20 2017, 07:43 AM

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QUOTE(mittaya @ Sep 20 2017, 01:32 AM)
Thanks.

mean over this 20 year loan period if i choose 4.35 rate i have pay more RM12K...compare 4.15.. is an amount too..
*
If you want to know how much difference of the interest you incur

@ 4.15%, 35 years loan
user posted image

@4.35%, 35 years loan
user posted image

That's a difference of 15,364 of extra interest over 35 years.
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