My current loan rate as below:

Housing loan 1 is 6.97 - 2.2 = 4.77
Housing loan 2 is 6.97 - 2.4 = 4.57


Just wondering the lowest market rate now is what, can share for to do some comparison or not.

as per the above that I mentioned earlier.

I would like to ask for some advice for situation below, not sure if i can express it well here:


Ryan & Miho, they got this MYR 21,600 cash back upon VP break into 4 terms over 2 years

90% Loan = MYR 551,700


80% = MYR 490,400
For 80% loan, they said can straight away minus the MYR 21,600 cash back. 90% cannot straight deduct, must wait till VP.

Assuming I got no cash in hand for higher downpayment but have MYR 30,000 in EPF can withdraw out and EPF recent years got approx 6% dividend.


I would like to know if it is worth to withdraw the 30k from EPF and get 80% loan, I will solve the other value difference in cash myself.

best to keep the money in EPF since it will yield 6%. Whereas home loan interest is 4.5% at most. That's a loss of 1.5% interest rate

Hi Sifu, may I seek your advice concerning Hong Leong Mortgage Plus (https://www.hlb.com.my/en/personal-banking/loans/property-loan/mortgage-plus.html)?
Based on the info given, the credit balance in the assigned current account will automatically help to give us savings on interest.
I would like to clarify the followings：
(1)If we deposited certain amount to the assigned current account “during construction period”, will it help to give us saving on interest? (Reason for asking: Full Flexi from certain bank are Not allowed to offset progressive billing interest during construction period.)

(2)In case there is 70% capping on the principal amount.
Let say the total Loan amount: RM300K
70% of loan amount: RM210K
The property is still under construction
First disbursement from bank: RM30K
If we dump in excess money RM30K into the assigned current account, will bank offset RM30K or RM21K (70% x RM30K) from interest calculation?

(3) After deposited the excess money to the assigned current a/c, can we withdraw the excess money from the current account later (I mean before completion of building construction）？Any penalty?

Thanks in advance!

I guess I will try to reexplain what is sort of stucked in my mind


Option A
Loan 550,000, No EPF, Cash back MYR 21,600 will get only after VP over 2years. Assuming home loan rate at 4.6%



Option B
Loan 490,000, EPF MYR 30,000, cash back MYR 21,600 straight use to offset house price. Assuming home loan rate at 4.6%

My concern here is the opportunity cost between option A & option B

EPF MYR 30,000 @ 6% PA over 5years -> MYR 40,146 (Value difference MYR 10,146)

Cash Back MYR 21,600 @ 4.6% PA over 5years -> MYR 27,046 (Value difference MYR 5,446)


Looking at this Option A or Option B better? Is there other smaller details and numbers that I have missed to scale the option A or option B?

hi all si fu,

1. if my parent gave me a house, fully paid. currently owner name my father, but his WILL said after xxxx, the house will give to me. so my question, if i buy a house myself now, is 1st timer or 2nd house?

2. A fully paid house, my father and my name. now i go buy 2nd house, consider 1 timer or 2nd ?

3. Grandfather got 1 land, to 7 sons, 1 of the son passed away, says his part will give to his son again. if they want to sell the land now, i heard lawyer will charge 7 or 8 transaction fee because they involved 8 person name (7 son and 1 grandson).
is that really true?

wish to clarify all these. someone pls help. thanks!

1. if there is a clause stating not allowed to offset any progressive interest during construction period then you can't save on that interest for prepayment

2. yes it will be 30k x 70% = 21k offset only.

3. yes you can, no penalty

Since you have your calculation down, you can clearly see the difference, but decision is still up to you to decide whether you need to use the excess funds in the EPF. For me, I won't.

1. considered 1st time if you never own a house before

2. 2nd house

3. you have to ask lawyer for this, can't advise you.

Thanks sifu!

hi.. hope si fu here can help on below my concern. Thanks!!

45 yrs old, working in Singapore, got 1 year full payslip from Jan 2018 to feb 2019. Gross salary about SGD1800, after deduction is about SGD1500, OT every month about SGD200 pay out with different payslip.

want to loan a rm300k house, market value rm400k. (coz siblings)

Questions:
1. can he loan?
2. can loan how many year still since he is 45 now.
3. can get full loan since market value 400k?
4. how Malaysia bank calculate the income for ppl who work in SG?
5. anything i missed to ask?

Thanks!!

1. can
2. 25 years
3. can
4. internal

anyone got any idea if for example the property is owned by 3 ppl... then assume property price is 333k for easier calculation sake...

supposed 1 person would like to buy up the 2 remaining share....can the loan amount be captured as full 333k? or 90% of 333k? or max loan can only go up to 222k (2/3 of RM333k)

90% of 333k

Want to ask: I have a full flexi loan with HSBC Homesmart of 670k, after 3 plus years noted that the principle has only been reduced 30k (Now the outstanding principle is at 640k), but I've paid nearly 80k worth of interest.

If I have extra let's say 50k, would it be wise for me to reduce the principle by 50k PERMANENTLY? By doing that it will also reduce the interest but hopefully increase the portion paid for principle?

Just want to know if I have the wrong idea here.

Thanks.

im guess its workable. you may consult bank about this.
yes, i loan 320k, after 4 yrs, only reduced 20k. and i paid close to 80k too.
this is the reason why rich ppl more rich, coz they buy with cash, they use 600k buy 2 house, i use 600k buy 1 house (loan + interest).

This post has been edited by x88yunkw: Mar 17 2019, 03:15 PM

Hi bankers/ brokers,

I am looking to apply for home loan, preferably full flexi after reading much about it.
Would like to know what is the prevailing interest rates and banks that offers them.

Am looking at those full flexi accounts which reduces principal amount with excess deposited into the account, or any other type that is similar to this.

Would also like to be quoted for MLTA premium, am a bit noob on this part so might need some enlightenment

First house buyer
Property Value: 1.5mil
Loan: 80%
Tenure: 35 year

Please pm me to find out more on my personal details you might need

Thank you!

Thanks for the advice:)

nowadays bank loan are flexi, you can make 50k prepayment to reduce the principal owed and pay lesser interest, this would also mean high amount is paid towards the principal each month on the monthly installment.


Will need more details about yourself to see how to proceed with the loan

Need to get some info before go for it.

Few questions here:-

1. My net salary is about 5k plus, so what is my DSR?
2. Currently got 1 housing loan joint with my wife, so the commitment is solely park under me or share by half?
3. Annual bonus is it consider as a income? If yes, what should I provide?
4. How to derive monthly income from BE or EA?
5. My income is higher in EA/BE compared with monthly salary slip due to the bonus, so how is bank going to justify my income? base on EA/BE or monthly salary slip?

Thank you.