No, it all depends on your documentations.

If you do have an existing bank FD then it may be just a slight benefit as they are able to view your savings available. But that's about it, you may show this to any other banks to establish the rapport.

IC
3 months - 6 months payslip & bank statement depending on your type of income
EPF statement
SPA and Title of the property
Booking Form
and other docs depending on what you want to declare.

I see the major concerns where you may have the switch of the pay roll account (correct me if i'm wrong).

Since you are still intact with the current overseas company, may I know if your company has any branch/office in Malaysia? If yes, then employment verification should not be any issue.

Next, are you intend to purchase a new property or refinance the upcoming property from the transfer? Because the commitment calculation from purchasing a new property and refinancing could be slightly different.

Last but not least, if you are seeking for a joint loan, I suggest you look for direct family instead (e.g spouse, children). Any indirect siblings like siblings, cousin and etc may have causing complications to your application.

Thanks for your replies.

I see the major concerns where you may have the switch of the pay roll account (correct me if i'm wrong).
- not sure what you meant
- could you please clarify?

Since you are still intact with the current overseas company, may I know if your company has any branch/office in Malaysia? If yes, then employment verification should not be any issue.
- no branches locally
- online division of a North American company

Next, are you intend to purchase a new property or refinance the upcoming property from the transfer? Because the commitment calculation from purchasing a new property and refinancing could be slightly different.
- purchase/finance a new property
- would consider using existing title (after transfer) but prefer not to

Last but not least, if you are seeking for a joint loan, I suggest you look for direct family instead (e.g spouse, children). Any indirect siblings like siblings, cousin and etc may have causing complications to your application.
- ideally would just be myself on a 20 year term
- may consider a joint loan with gf as we are discussing a joint purchase and increase term length based on her age, if applicable

Hi,

Im sorry if I'm causing any confusion to you

I see the major concerns where you may have the switch of the pay roll account (correct me if i'm wrong).
- not sure what you meant
- could you please clarify?

What i meant was, any movement on your pay roll account? Due to relocation, has the company decided to switch the currency, maybe from USD to MYR or any changes from previous pay roll account in US to new pay roll account in MY.

Next, are you intend to purchase a new property or refinance the upcoming property from the transfer? Because the commitment calculation from purchasing a new property and refinancing could be slightly different.
- purchase/finance a new property
- would consider using existing title (after transfer) but prefer not to

I recommend you to purchase a new property instead of refinance the existing property.

Last but not least, if you are seeking for a joint loan, I suggest you look for direct family instead (e.g spouse, children). Any indirect siblings like siblings, cousin and etc may have causing complications to your application.
- ideally would just be myself on a 20 year term
- may consider a joint loan with gf as we are discussing a joint purchase and increase term length based on her age, if applicable

If you are purchasing a new residential property, max loan tenure is up to 35 years or 70 years old (whichever come first).

If you are using existing property (after title transferred) and refinance cash out from the property, your monthly commitment will be follow by the first 10 years. Once you are able to fulfill the overall commitments (existing monthly commitment + new monthly commitment from cash out), then you may request to extend tenure up to 35 years - which I personally don't see the logic why you should not opt for former option.

May I check your loan eligibility first before you decided to proceed under single name application or joint name?

I will need the following info :

Age
Single name/Joint name (please indicate the number of borrower)

Salaried Employee
- Basic Salary
- Fixed Allowances
- Variable Allowances/Others
- Bonuses

Commission Earner
- Average 6 months commissions
- Income Tax Declaration for 2 years + Receipt of tax payment

Self employed
- Year of establishment
- Nature of Business
- Type of company setup (Sole prop, partnerships, Sdn Bhd, LLP)
- Average 6 months credited amount in company bank statement
- 2 years income tax declaration + proof of payment

Monthly commitment
- Housing loan
- Hire Purchase
- Personal Loan
- Credit card
- Other term loans
- PTPTN loan

Supporting document (optional)
- rental income, savings, FD, shares, dividends and etc

Property details
- Undercon/Subssale/Refinance
- Property Address
- Purchase price/Open Market Value
- Type of property (landed/condo/etc)
- Land size
- Built up (Applicable to high rise/Semi D/Bungalow)
- Any renovation and estimated costs

Make sure there are ways to be able to communicate with your company for employment verification purposes.


The existing property that you have will only count as your networth.


Ideally it's not recommended to joint with someone who you have not "confirm" on the relationship to avoid dispute in the future. But this is your choice.

As for the tenure of the loan, you'd want to maximize it in order to reduce on the monthly commitment, with flexi loan nowadays, you can make prepayments to offset the principal and reduce the interest payable.

With that being said, if you wish to know your loan eligibility, I'll need the details below

Age
Gross Pay
Nett Pay
Rental Income
Bonus 2018 2019 2020

Commitment
House
Car
Credit Card outstanding
Personal Loan
PTPTN
and other commitments

House Price
Loan Amount you're looking at

Hi Sifus!

I am applying RSKU property price with RM200k.
The applying process are roughly taking about 6 months to process.
So during this applying process I would like to prepare the supporting documents for apply the loan.
Due to I am self-employer with sole-proprietorship company.
I would like to know is the any chances to apply the loan with my situation as per stated below.

My situation are like this:
1. My age 29. My business are doing room rental business just over a year. But I will fill the sole proprietorship income tax for this year soon.
2. My monthly income are roughly 2-4k per month with payslip.
3. But my payslip are without EPF and SOSCO contribute. However I got contribute myself every month for EPF and SOSCO.
4. I do have 3 credit card, and all of my credit card are clear off every month with no outstanding record.
5. I have FD 50k under my name.
6. My monthly commitment are PTPTN (RM155/ Remain 11 years) and insurance (RM250 permonth) only.

I would like to know is that possibility for apply the housing loan amount RM150k- RM200 with my current situation?
How many percent the loan can be apply?
If not, what shall I prepare for the documents or is there any helpful tips for me to apply the loan?

Looking forward the experts can advise me on this will be much appreciate!.
Thank you.


This post has been edited by WonderBoys: Jul 1 2021, 04:47 AM

You'll need at least 2 years of income tax filed in order to proceed

With that being said, subject to the credit control approval.

you need at least 2 years company establishment, unless your monthly sales turnover around 200k-300k credited in your bank statement and some personal liquidity to show as supporting. Then bank may consider your application to be approved (from past experience, for your references only)

Hi hopefully someone can answer this..

I’m currently in the midst of buying a property from my wife for personal reason…

a bit of description..3000sqft, 2 storey bungalow on a agriculture land (1/2 acre = 20000 sqft) in bangi selangor..

At first place my expectation would be the total value would be around 1.2m including the land.. whereby house rate house price 600k & land around 400k (rm20/ sqft).

Then i got an loan approval from public bank.. the can only offer 810k for the whole property including the land.. in which i accept..

Then later the bank appoint private valuator for formality & the valuer give my property fair value around 1 million.. ok fine we are ok.

After going through the s&p and signed already.. lawyer send it to lhdn for duty stamp valuation.. then lhdn pass to JPPH (government valuation) and they come up with market value of 1.62 milllion 😮😮.. they duty stamp sky rocketlah from 17k to 49k.

So my question.. why so different between bank MV (810k) & government valuation (1.6M).

I’m ok to buy at higher price= more cash out for my wife( we can invest elsewhere).

Can the bank revise the offer loan according to value put by jpph? Or can i apply the loan with other banks?? I’m thinking of possibility.. tq

Bank valuers nowadays follow on alphabet orders so valuation may differ.

However your loan already in the midst of processing. So unless you're prepared to pay for penalties and incur more fees vs the extra amount to cash out.

For a sole prop, they require 6 months bank statements. What do banks usually want to see in the company's bank statement? Do they see the outflow/inflow of the money?
Preparing as my sole prop will turn 2 years in 6 months time.

Can I ask a potentially dumb question - how do I make advanced payment on my housing loan (Maybank)? Just like regular transfer?

First-time house owner, first-time doing advanced payment and no idea how to.

This post has been edited by blu3gyrl: Jan 17 2022, 06:45 PM

you don't have maybank2u account? should be able to directly transfer from savings account to your loan account, most banks this way work...
when you take up your loan..is it flexi loan which allows you to pay more upfront? if yes, then just transfer only as much as you want....i think so la....

Hi all, wondering if there are any bank officers (or if you know if there are any bank officers) that can help me get bank rejection letter?

I placed a deposit for a new project, but due to some recently family circumstances I need to pivot my plans. Appreciate all the help I can get ... Many thanks.

Hi,

I have an existing term loan with BLR - 2%.
Would like to ask for a better rate from the bank example to get - 2.x% ..
is the above request considered as refinance? My aim is just to have a lower interest rate only. And is the above request to reduce rate something normal to do?

Thanks for the advice from any sifus.

Hi everyone

If I am going to apply a bank loan for housing, usually the bank will look at the total outstanding amount, or the limit/installment amount for DSR calculation ?

For my case here, I will early settle the personal loan to avoid the bad scoring, any other portion that I can improve to make the DSR more better when applying a housing bank loan?



My monthly fixed income is 9.5k before deduct the epf contribution and tax contribution.

I am settle-ing all of the credit card outstanding with my bank account saving, and also early settlement the personal loan this month.

All the while I am clearing my credit card outstanding every month, there is no minimum payment was made, and no delay on paying the bill.

The existing house loan and car loan will be still remain after clearing credit card and personal loan outstanding.

The current house has rented to tenant with a valid stamped tenancy agreement for 1400.

Settling the credit card outstanding and personal loan will help to improve your DSR

Hello everyone, I'm a first home owner and currently my loan has been approved with the given package. Anyone can help me regarding this one as I yet to choose which package suitable for me

First package:
Islamic loan
SPA: RM300,000
Loan: RM270,000
Rate: 3.15%
Tenure: 35 years
MRTT: RM14,986
Total: RM284,986
Installment: RM1,121

MRTT
Sum insured: RM215,000
Cover 38 years including 3 years of construction period

Second package - CLTT
Islamic loan
SPA: RM300,000
Loan: RM270,000
Rate: 3.15%
Tenure: 35 years
MRTT: RM14,431
Total: RM284,431
Installment: RM1,119

CLTT
Sum insured: RM270,000
Cover 23 years including 3 years of construction period

For my objective, I'm planning to rent it probably in the future when I'm more stable maybe in 5-10 years after staying there. Not sure about selling it as it depend later on by my high possibility is for future investment

This post has been edited by shadowblack: May 20 2022, 09:36 AM

Hi Sifu !

New homebuyer here. Lets say I am looking for flexi loans...

Should I go for 90% loan or lower percentage (I actually prepared some funds for DP). Should I just take full and park the excess on mortgage to reduce the monthly interest ?

Thanks in advance !

If can go for 90%,then apply 90% first. U may choose flexi loan for ur home loan. After loan disbursed,u may put extra fund into loan account to save interest.