70%

This profile no problem can get 90 percent n 35 years repayment

ooo ~ forgot to mention age 32 (calendar year) and 31 (technically).

mean the third house 70% is depend on third loan and not the name on the snp or the owner of the house?

nowmean the only way i can get 90 amount loan on mine next condo is to refinance mine first loan and remove mine name from mine bother loan??
or anyone here have another advice?

how old is your friend, i might could help up if he dun mind to get the loan margin at 60%

Thanks

Answer 1: Ya, it is possible as long as ur individual income not more than RM5k and ur property price not more than RM400k. However, there is also maximum age requirement for this scheme which is 35 years old. Maybe u can refer to this website for more info on the scheme:
http://loanstreet.com.my/learning-centre/f...rumah-pertamaku
Answer 2: Ya, joint loan is better. It may help u to increase ur chance to qualify for a loan, and may help u to have more chance to get a larger loan size. However, for ur situation, u must remember do not put ur fiancee as the main applicant of the loan, coz the margin of finance for most of the bank will be reduced to only 70 to 80% if the main applicant do not have any credit history.
Answer 3: I think it is not quite possible,,coz all of the banks will only give to 90% to the borrower in most of the situation. And u said that it will be done if you ask the owner to increase the price,,but dont forget that the bank will do the valuation for the properties, if the bank is unable to give the value that suggested by the owner (lower than the price suggested by the owner), then eventually u are unable to get "100" loan also.

This post has been edited by blackswan88: Apr 14 2014, 04:07 PM

Your current new loan will be 3rd housing loan which is only eligible for 70% margin max.

In order to obtain higher margin, the housing loan that you joint name with your brother must be taken out from the facility before you start to apply the new application. Otherwise, same issue which is 70% only

FYI, bank only refers to CCRIS report, which it shows how many housing loan you have instead of how many properties you owned.

Thanks

Hi Zenjet,

based on your info given, your profile is eligible on max margin which is 90% and below is how we conclude:
Income : 5000
Commitment: 883 + 400 + 1629 (based on 333K loan amt @ 30 years tenure) = RM2912
DSR = 58.24%
Bank guidelines: <70% (MBB, OCBC, HLBB, Alliance, AIA)
Of coz, it is still subject to your credit checkings.

Thanks

Hi zeroshiki,

My advise to you:
1. Loan amt of RM270K (90% on RM300K property), monthly repayment is RM1321 + existing Ploan of RM280, your DSR is 64.82% which is exceeds the banks guidelines (income <3500 DSR allowable is only 50%). Also, 1st home scheme has never been approved in the market (or at least on my hand for these years - 8 years)

2. Joint name for application is always advisable, but not to forget to take into consideration on the credit background, quota for next property in the future (in order to get 90% margin & not falls under 3rd HL group), capability, etc before making the decision to joint name

3. 100% for 1st home scheme is never the reality to be frank..hence, marking up the property price is 1 of the options but subject to value is obtained, owner is agreed to pay the extra tax on RPGT on the additional sum on the mark-up (if the owner falls under this category to pay RPGT), lawyers know how, etc. Otherwise, some banks do offer 90% + 10% renovation loan / contingency loan (normally BLR+0% for 10 years tenure) such as OCBC, HLBB & Alliance bank (of coz subject to management approval, but still higher chance than 1st Home Scheme).

Thanks

I never knew DSR is calculated that way ~ I thought DSR must <50%.

I'll try pre-check again with the banks.

Thank you.

Sure zenjet!! Thats how the banks do their DSR calculation for each individual..of coz they have their own guidelines based on diff income group. For your case, your income is above 5k hence, those banks mentioned can tolerate till <70% on your overall commitment.

FYI, i'm the authorized licensee from those banks..thats i know better..hehe!!

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This post has been edited by ~MadMaN~: May 3 2014, 12:53 AM

Hello everyone, I am James Kerk from Public Bank, Menara PBB Jalan Ampang(HQ).

I can assist on all sorts of mortgage loans (individual housing loan, commercial loan, land, shop, house, etc)

You may contact my via email "jameskerkkl@hotmail.com" or phone contact "019-3390349". I accept whatsapp, line, wechat, sms, calls.

I provide home to home service which if you have queries we could meet up at any place that you are convenient for discussion.

Have a nice day

Your DSR is around 62%. Most bank's DSR for income around RM3000 is 60%, exceed 60% then get tricky

Agreed!!

But if you are entitled for 35 years tenure, then still at the border line. Also, you must be a degree holder (or higher) in order to obtain max margin & max tenure as you have no borrowing records. For your case, recommended Alliance & OCBC

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This post has been edited by cckthechun: May 3 2014, 09:09 AM

1st house loan mah, sure tricky abit...
Then afterward you will become pro

You can contact me anytime, 019-9843327, Vincent

If cnt reach me, fellow experts here will guide you also

Hi, I have few question to ask, hope can seek some advice from tai kor here.

1. If the tenancy agreement (TA) is under my name, loan under my wife name, can I use the TA as a supporting for my loan application?!

2. My wife & I have a house under our name, which already been settled, I am using my name only for TA, say the rent is rm1000 per month. When I pass the docs for a new loan application, would the banker take the full or half rent for this?!

3. If say I have a very full quota on my mortgage loan under my personal name. Can I use my running company, Sdn Bhd to apply for the commercial property. As normal practice, they may need a director guarantee on the new loan, on my case, would my personal affect on my this company loan?!

4. I am looking for a experienced senior banker or good mortgage firm to help me on the planning for my coming next property purchase. Can u pm me your contact.

Anyway, thanks!

hi bankers,

Interested in JV to purchase an agriculture land about RM400k.

Am currently working in singapore and combined income about SGD6k (RM15k) per month.

Let me know if there is a serious loan offer out there.

Thanks.

Hi all,

Gross Income: 3k
Nett Income: 2.5k
Current Loan: none
Credit card: No outstanding every month
Status: Single

1st Time Buyer
Property : 320k High rise (90% would be 282k)
Never late for repayment in the past.

Can get the loan for this?

Hi Bryant,

For your case, your DSR is 52% if you are entitle for 35 years tenure, most of the banks can only tolerate for 50% DSR max for such income range. But for your case you might be able to try with Allinace & HLBB.

can pm me for more info & assistance.

Thanks

gross salary 9.2k
Nett salary 7.1k
car loan as guarantor - rm930 / month -finishing in 4 months
p. loan - outstanding 5 months (1.1k per month)

so what is the max loan amt & tenure i can get ?
is it advisable for me to clear the above loans 1st to get higher loan amt? ....i have the cash to clear
and does ptptn loan a contributing factor as well ?

This post has been edited by dixonleong: Apr 22 2014, 03:55 PM