Rate that I have come across go as low as 4.55%, tenure limited to 25 years

Depends on your loan size amount, we're looking at 4.75% with 30 years tenure

There is a promotional rate ongoing, as low as 4.40%, 85% loan margin and 25 years tenure. Of course, subject to loan size.

If you are looking for working capital, they may provide 15% margin on top of term loan under company entity.

This post has been edited by ngph988: Sep 14 2018, 01:07 AM

Hi, got a question. My loan account is semi flexi and 4.5%. The developer already ask a portion of my loan from bank which is 60k and now I'm am serving interest every month. I would like to ask, if I now dump 50k into my loan account then my interest will then count based on 10k? Can I still take out the 50k if I need it? If so my interest will count based on 60k back right? In a way I'm earning 4.5% interest from my 50k?

Thanks

i think you need to provide more info such as which bank? different bank got different rules/regulation...
just to be sure the reply here to your answer is as accurate as possible...

Hi, it's Maybank semi flexi conventional type

Yes you can make prepayment towards your principal amount.

I wouldn't say you earn back 4.5%, you're literally owing this 4.5% but you're off-setting your interest payable.

Thanks but is this already paid to my principle? Since I can still take out my 50k if I want. Then when will the bank take the 50k?

Hi all,

I've just managed to cleared off my ptptn tunggakan with my epf account 2 due to supporting family issues in the past. I now have a stable job that i've been working for the past 6 months & was wondering if i wanted to apply for a home loan, should i wait untill12 months later where the crisis record is good?

You have to transfer this 50k to the loan account.

Since it’s a flexi loan account, you can withdraw it from your loan account back to your savings account via M2U.

If you have cleared the PTPTN late repayment, you just need to get the letter to show that the latest late outstanding is 0 from PTPTN and you’re good to go to apply for a housing loan.

No need, if you have cleared the PTPTN outstanding, just get a letter from PTPTN it can be these:

1. Ujrah letter, saying that have changed the term of the financing
2. Outstanding clearance letter, saying that you have made the clearance

Attach these letters along with your applicaiton

Hi guys, I would like to ask few questions :

1) If I inherit a property (with SPA under my name), im not eligible to benefit from stamp duty exemption and first home scheme that pays 100% for loan?
2) MRTA is at least needed for housing loan? asked a maybank financial consultant and she said at least 5 years is enough

thanks in advance

If you have existing property (with SNP and title indicated your name in Klang valley), yes you are not eligible for first home scheme. Please find the criteria in order to eligible for first home scheme. My Webpage

Qualifying Criteria
Eligible Borrowers
Must be a Malaysian citizen
First time home-buyer
Individuals up to age 35 years
Single borrower gross income not exceeding RM5,000/month and joint borrowers gross income not exceeding RM10,000/month (based on gross maximum income of RM5,000/month per borrower)
Repayment of total financing obligation must not be more than 60% of the net monthly income or maximum financing limit of the participating bank, whichever is lower

Eligible Properties
Residential properties located in Malaysia
Minimum property value of RM100,000
Maximum property value of RM400,000
Owner occupied (buyers are required to reside in the property)

Financing Requirements
Financing tenure not exceeding 35 years, subject to borrower’s age not exceeding 65 years at the end of financing tenure. Revised maximum tenure is in line with BNM's ruling announced on 5 July 2013
Amortising facility only (no redrawable features)

On financial planning, you are advisable to get a full coverage for 35 years tenure (either MRTA or MLTA), depend on your financial status.

If you are looking for pure coverage with reducing term, MRTA is your choice. MLTA will give you full coverage for 35 years + cash value (investment linked insurance) hence you will get rebate of premium paid upon maturity.

This post has been edited by ngph988: Sep 20 2018, 02:25 PM

1. I am not sure about this, you may need to check with land office on this since it's involving inheritance on the stamp duty exemption

2. It's advisable to take MRTA based on your loan tenure with the bank as MRTA is a reducing coverage insurance that reduces overtime, if you take 5 years, the coverage will be drop drastically and unable to cover your loan.

You may also have the option of MLTA where it provides a level coverage every year.

Here's the difference of the 2 product

Hi guys, just a quick question about housing loan.

Currently I have almost fully paid off my current house (still under bank but since it's semi-flexi, I have overpaid all except for RM200 left in the loan amount).

I'm looking to purchase another house (2nd hand one) which worth about 100k more than my current one. So shall I applied for a new loan for the new house? Or refinance my current house and pay cash for the house to be purchased? For info, i'm planning to let go my current house once the "new" house is ready as don't want to commit to any loan.

Thanks

p/s - both the houses are leasehold and located at the same area, in case it's relevant

This post has been edited by lowyat101: Sep 24 2018, 11:30 AM

Depends on your financial capability, if you can handle 2 loans and don't mind the monthly installment, I would suggest you to take 2 loans together.

But if you intend to sell off the old one once the new one is ready ,then I guess just apply for the new housing loan and once it's ready, sell the old one, no need to refinance.

Thanks for the advice. Ya sounds like better to apply for a new loan since it's more clear cut later when selling the old house.

May I know what will be the loan procedure of buying a 2nd hand house? Do I look for the SPA lawyer first before asking for the loan? And using the same SPA lawyer for the loan agreement? Or it's the other way round?

Thanks

secure the loan first, SPA can be done thereafter. If no loan approve, how you want to proceed with the purchase ?

OK. Is it possible to know what's the maximum loan amount I can get for that particular house? What are the info needed for the bank to assess this value?

I'll need the info below
Age
Gross pay
Nett pay
Rental
ASB
Bonus 2015 2016 2017

Commitment
House
Car
Credit card outstanding
Personal Loan
PTPTN