Alaiumussalam wbt.

You are referring to day trading right? Which CDS account are you using? Do you have a registered business?

Yes, day trade, I am using CDS personal cash account, just a normal account not the contra one. I do have registered business,, but as far as I am concern the income derived from stocks trading by using personal CDS account was counted as individual income and not related with any business transaction unless there are other things beyond my knowledge . Please enlighten me the details and what type of documents need to be prepared.

Thanks

Will need to see your 12 months commission statement

Will require you to provide company registration form, 6 months company & personal bank statement and 2 years income tax to justify source of income. After all, you are under financial institution hence liable for Anti Money Laundering Act and Financial Service Act 2013 compliance.

I done once before but that applicant was a trader under a futures broking company.

Hi all,

Do u mind doing a calculation for me. I would like to know how much maximum can i apply before i go property hunting. Thx

Gross monthly : 4600
Latest bonus : 3.5 months
Commitment : Car @ 690 + utilities @ 300
Age : 29

Max about 430k loan amount.

Hi. Thank you for your calculation.

You include bonus as part of the income, usually how many years will they average it?

Hi. Thank you for your calculation.

You did not include bonus as part of the income, may i know why?

It's best not to include bonuses when it comes to buying property, this will ensure you can service your loan. However if you need to loan slightly more than the above calculation, there is still room for you to loan the extra amount

Banks include bonus in a few ways:

From 0% to 80% of the bonus earned, monthly averaged (divide that by 12 months)

This entirely depends on the documents, but banks understand that some employees are given lower basic salary but with higher bonuses, for example, those working for Singapore Airlines.

My job is not to judge the applicants' ability to repay the loan, but to calculate the expected maximum loan amount

Hello there, can you help me to calculate my eligible maximum loan amount?

Gross monthly : RM5500
Commitment : Car @ RM810
Age : 29

Many thanks

Here you go

Hi Mr Faiz, Im not familiar with house financing.

I'm using Maybank Conventional Loan amount of RM80K

Balance to go is RM 45K

Interest Rate stated there is 7.4%

Loan : 30 years

I'm planning to apply for withdraw for renovation purposes. Is it wise to do so?

This post has been edited by Gerruf: Oct 10 2018, 12:32 PM

What you meant is refinancing. You can do a top up loan with your existing bank or refinance it altogether to get a lower interest rate.

If the overall interest rate is lower then its already justified to do so.

Good afternoon,

1. your rate is way too high, at 7.4%, even without the need to cash-out, I may suggest to refinance just to save on interest. We can go through the numbers as long as you are comfortable sharing some personal info out in the open, I can show how much you are "losing" by paying that much amount of interest.

In general, every 0.1% difference between your rate and the best rate is RM100 lost a year. Which, I may add, why I think a fixed rate of 4.99% is a horrible deal because you are losing money hand-over-fist every single day that you are liable to pay that high interest rate.

2. What is the market value of the house? In general, you can get a maximum refinancing amount of 90% of the MV. So if your house value is RM200k, you can get 90% of that, which is RM180k. Deduct the balance of RM45k, and you will end up with RM135k. Of course, you can apply for less amount of cash-out, since it will increase your monthly commitment

Hi insurance agent,

thanks for answering on my behalf

This post has been edited by wild_card_my: Oct 10 2018, 06:25 PM

Ah I see that Loanstreet is also starting to market themselves here.

hi below 500k your eligibilty based on verbally calculation

Hi, would like to know if it is possible to buy MRTA after taking the home loan.
It is not included in the offer, but is there a possibility of adding it in the future ?
If it is possible, could we re-negotiate the interest rate again ? (any fees involved ?)

On top of that, what is the estimated annual premium for a coverage of 500k for both MLTA and Life Insurance ?
From my understanding, mlta is also a type life insurance and each company/product might have different premium... but any estimation as a general guideline ?

You can but you'll have to pay 1 lump sum for it.

Different company offers different product so the premium will not be the same across all insurance company.

Will need to know your age, gender, loan amoount, smoker or not and your occupation.