Hi, Dixon:

Your nett income is Rm7.1K, after minus your P-loan and car loan, you still got RM5,020.

For most banks offer, for income above RM3K, DSR can up to 70%, meaning every month you can afford RM3,500 mortgage loan instalment.
But that's just theoretical, there are many factor banks take into consideration when evaluating loan application. Such as CCRIS, your credit history, which we agent can't access to, but bank can. So if you let say you have bad credit score, but invisible to us, so bank will know.

For loan tenure, it needs to depends on your age as well. Let say of you are 25 this year, so you can take up max tenure, that is 35 yrs.

If got many question, you can contact me anytime. 019- 9843327, cheers

Hi, I have enquiry,

Gross Salary RM7k
House price RM515k
which bank mortgage loan suitable for me? looking for 100-90% house loan.

Appreciate your advise.

Hi there,

90% will be RM 463500
Let say you are qualify for maximum tenure 35 years, and BLR-2.3%, your monthly instalment is 2136.90.

Your gross salary, assume that there are 16% of deduction of EPF and tax. your net income is 5880.

Your DSR is only 36%. So now worry that you will not get the loan.

If you think of 100%, sorry you are not qualify, as first home scheme only for property value not more than 400k.

But for certain bank, you can apply up to 90%+ MRTA + Legal Fees. Hehe...

If you need me to apply loan for you, feel free to let me know ya.

Hi all,

Gross Income: 9.1k (working in SG, after currency conversion)
Nett Income: 9.1k
Current Loan: none
Credit card: No outstanding every month
Status: Single

1st Time Buyer
Property : 560k Double Storey (plan to loan 90%)
Never late for repayment in the past.

Can get the loan for this? I checked public bank website. I cannot find current home loan interest rate. May I know the current average interest rate?

Thanks.

Hi, Please advise:

Two person gross Income: RM 6000
Nett Income: RM5000
Current Loan: none
Credit card: No outstanding every month
Status: Both Single
double storey House: RM600k

-1st Time Buyer
-Plan to loan 90%
-Never late for repayment in the past.

Please advise could we get the loan based on the info above?
and what is min. loan amount we could loan? Which banks loan is more suitable for my case?

Thanks.

This post has been edited by ckl427: Apr 24 2014, 11:42 AM

Hi, your DSR will be within acceptable level, if you borrow for 35 years. I think all banks are suitable for you.

thanks Pang for your advise and explanation.

by the way, do we need to prove that we are spouse?

Gross Income: RM 15k
Nett Income: RM 10k (after all tax etc...)
Current Loan: none
Credit card: No outstanding every month
Status: Single not available

1st Time Buyer
Property : 600k High rise

how to select a good home loan for 1st time buyer? am looking at hong leong bank, uob.

looking at https://ringgitplus.com/en/home-loan/

there are various banks packages giving different interest rates ... some higher than the other. hong leong has the least monthly payment.

1. just want to know why? e.g. hong leong is 4.2, maybank 4.4 ...
2. if i opt for hong leong, but currently i dont have an account, how the deduction work for this case?
3. my property will only be ready by 2017, during these period of time, what am i paying for?
4. in the future i would like to make payment like 20k 1 go, how would that inpact my loan?

gurus, please help.


This post has been edited by Hou_JaI: Apr 24 2014, 04:14 PM

Maybe u can try the first home scheme (skim Rumah Pertamaku), ur requirement is quite suite for it. This scheme is specially make for first time home buyer like u. And one good thing for this skim is that it provide 100% loan, means u dont need to pay any down payment. But remember that the maximum property price that eligible in this scheme is only RM400K, in ur case, it think u do not have the problem. And one important requirement is that ur age cannot exceed 35 years old.
Hope this info can help u

1. It depends on BLR (base lending rate). Some offers -2.45% like Maybank, and some -2.xx%...so if - higher value, means you only have to pay lower interest every years (This is actually more complicated than that, but I express it in layman's term )

2. You mean you need full-flexi? Full-flexi indeed needs to open another current acc. for loan acc.

3. It's undercon unit. That in most cases, you do not have to pay anything until the developer tells you to. (in most cases la, i said )
and you need to ask the developer what banks are under the panel la. Because can save up time (developer got the property's info)

4. Yes, full-flexi allows you to do that. Means if you chooses full-flexi, it open another acc. with your downpayment and "principal" in it, then let say you have sufficient money, you would like to save up the interest, so you pay up RM20K 1 front...so the money will deposit in the current acc. and deducts out the "principal" amount you borrow from banks... so will shorten the tenure and save up interest rate.

I may not be the best around here, if got any question you can contact me also la 019-9843327, Vincent.

(I put all those in layman's term, easier for people to understand )

This post has been edited by VincentCS: Apr 24 2014, 04:43 PM

not necessary..just declare in the application form will do. Thanks!

pm me if you need further assistance

Hi,

1st of all, your loan eligibility is not an issue based on this info given.

1) Different bank has their very own costing matters and also packages to suit the current market trend. Basically, those offers - BLR-2.4% or BLR-2.3% are pretty standard nowadays. The rate that you mentioned above is the effective rate after BLR (base lending rate) minus off the offer from individual bank say -2.4%, which is equivalent to 4.2% (BLR = 6.6%). BLR is, as we all know is set by Bank Negara Malaysia taking into consideration of the economy factors, cost-of-fund, etc.

2) If less say you have accepted HLBB offer, you can have 2 options where: 1) open a separate current acc / savings acc to form the standing instructions to auto-debit your monthly installment (of coz, there must be sufficient fund in the acc to auto-debit the monthly installment); or 2) direct payment to the loan acc via ATM, online banking, counter, etc

3) Obviously it is an under-con property. Hence, during this period of time, the construction is in the progress. Depends on the progress of the construction, if the construction up to say 20% in April, the developer will bill the 20% to the bank for release of the sum (i.e. 20% x RM600,000 price = RM120,000). Thus, the bank will release the 20% sum = RM120,000 to the developer and you will be start paying the progressive interest based on RM120,000. Technically, you are paying roughly RM120,000 x 4.2% / 365days x 30days (no of days for the particular month starting on the day of the loan release)....it may sounds so complicated but its all about logical sense

4) Say, assuming you have a total loan sum of RM500,000, in the near future you are planning to pay a lump-sum of RM100,000 to your loan acc. It is allowable without any notice required to the bank. Hence, your "outstanding" is RM400,000 at this moment and the effective interest rate of 4.2% will only charged on the RM400,000 instead of the principal loan of RM500,000, which in turn you are saving from your interest charged. With this lump-sum of cash, you have the options to continue paying your monthly installment regularly and lead to shorten your loan tenure; or you can stop paying your monthly installment up to 50 months (assuming your monthly installment is RM2000, RM100,000 / RM2000 = 50). It works exactly the same regardless of the amount that you dump-in or any form - lump sum or monthly basis (i.e RM20K in 1 go)

This is just a bigger picture on how you can save further from the interest charged. However, there are other options where you can have a structured acc for the "interest savings" purpose and on top of that giving further peace-of-mind to cancel-off the loan immediately if any unwelcome events happen.

Hope the above address your concerns.

And do pm me for more info or clarification needed. Thanks

PANG
012-2484383

Hi, not sure this is the correct place to ask such question.

I have a mortgage plus full flexi loan account from HLB, I made advance payment but then today I check, the advance payment amount added into my outstanding balance amount, can I know is this correct?

Thanks!

If you got hlb mortgage plus acc,you just bank in your money into the CA,interest calculation will base on loan outstanding - CA balance outstanding.
If anything not clear,feel free to call me,i can explain to you.

Hi All,

Gross Income: 8.8k+-
Nett Income: 7k+-
Current Loan: none
Credit card: Balance transfer and Easy payment about 28k
Status: Single
Age: 30 yrs old
1st Time Buyer
Property : 693k High rise (90% would be 623k)

Please advise I'm able to get 90% loan from my purchase price?
Thanks

This post has been edited by JScomp: May 1 2014, 11:02 PM

Hi Bankers,

This is 2nd time I'm asking around for your advice here as the last deal did not go through. I am now looking at a property and will be going to 2nd viewing really soon. I think this will very likely be the one for me so I would really appreciate some advice and guidance from the experts here. If everything goes well I am planning to purchase this property jointly with my girlfriend.

Property type: Intermediate double-storey terrace (around 10 yrs)
Location: Bandar Mahkota Cheras
Tenure:Freehold; non-Bumi lot
Property size: 20x65sqf; 4B3R
Condition: furnished and renovated, kitchen fully extended, tiled staircase
Asking price: RM 550k

I have read through articles and understand that legal, valuation, stamp duty, MLTA can be financed into the housing loan but not sure how will this affect the loan amount.

Let's say if the property amount is 550k and I'm paying a 10% deposit and taking a loan of up to 35 years, the loan amount should be 495k right? If I would like to finance the legal, valuation, stamp duty, MLTA into the loan, will they be added onto the final loan amount of 495k or the selling price of 550k? My cash flow is a little bit tight and will rely on the EPF withdrawal to cover for the deposit and miscellaneous costs I paid upfront later on.

Apart from that, can renovation loan be incorporated into the mortgage? If yes, is it going to be added on top of the final loan amount of 495k (after 10% deposit paid) or added on to the property purchase price of 550k?

How much will the legal, valuation, stamp duty fees and MLTA be? What about the renovation loan amount that banks are normally giving for this type of property?

Lastly, am I eligible to get housing loan of the said amount and inclusive of the legal, valuation, stamp duty fees and MLTA fees? Furthermore, Is there any other costs that I missed out and not aware off.


Appreciate if anyone who can enlighten me and offer a competitive package.

Many many thanks in advance!

This post has been edited by DARKSIDE: May 27 2018, 05:14 PM

Hi Dixon, actually HLB can give your case DSR up to 85%...because your monthly income is more than RM7K.



Hi, I am Vincent, a Mortgage Specialist.

Based on both your GF and yours income details provided above, you are indeed qualified for RM495K home loan. As for the current best ratr home loan is from Maybank, with 4.15% p.a. , monthly installment for 35 yrs is RM2236/mth. That makes your DSr around 50%. Which is considered healthy for a RM5,000/mth income earner.

As for your question about stamp duty and legal process. ..you can choose to finance into the loan amount as well, some banks offer 90%+5%. The 5% is all the extra fees such as MLTA and S /D and lawyer fees etc.

And yes, you can borrow loan for renovation as well, it's called "R&R" loan...means Renovation and Refurbishment loan.

If you worry about all these thing will or will not affect your eligiblility, the answer is YES, finance into your loan certainly increases the loan installment. But from what I saw from you and your GF income, it shouldn't affect much. Please take note that the final decision to whether or not the bank will approve is not up to you or me, because bank has their own evaluation procedures.

P.S. : I am not Maybank agent, which may sounds weird since I said they offer the best rate now... I am a freelance mortgage banker, our company has licence to do loan for different banks (CIMB, HL, PB, Alliance, Maybank, OCBC, etc...). So I will offer my professional assistance to help you find the best rate that suits you

Any questions can contact/PM me , 019-9843327, Vincent

Age : 23/24, first time buyer, only attachted with ptptn loan.
Gross income :2.5k
Net income 2.2k +

Property value : 350k , 3 years old condo

100% loan still available to apply?
How much installament for 35 & 40 years

This post has been edited by reeve-826: May 3 2014, 06:44 PM

if u pay down payment for 10%.
Loan Amount = RM315K
Interest = BLR - 2.4, Current BLR is 6.6 --> mean your interest is 4.2%pa
Installment = rm1433 per month.

Hi Boss.
Loan amount = RM623K
Installment = RM2834 per month
need to know yr balance transfer repayment per month how much? so that i can confirm to about your loan approval status.
For wat i calculate base on your income and debt on hand is only balance transfer rm28K.
Should be can 100% approval accept your ccris and ctos is clean.

I'm CIMB Mortgage advisor. If you are interest on CIMB Mortgage loan you can give me a call. 016-4127007 Ms Yeoh

I thought joint name for loan whereas property didn't register should be ok.

[/quote]
Hi, i would like to refinance my current property as per following details;
Project: Koi Tropika Condominium
Developer: Utararia Development Sdn Bhd(wounded up last year but took over by liquidator)
Target refinance amount: RM300k
Outstanding: RM130k
Nett income: RM 7k
Commitment: RM 3.8k

Any mortgage specialist here to advice? Thanks.

[quote=miracle80,May 6 2014, 11:58 PM]
[/quote]
Hi, i would like to refinance my current property as per following details;
Project: Koi Tropika Condominium
Developer: Utararia Development Sdn Bhd(wounded up last year but took over by liquidator)
Target refinance amount: RM300k
Outstanding: RM130k
Nett income: RM 7k
Commitment: RM 3.8k

Any mortgage specialist here to advice? Thanks.

[/quote]
Any RHB banker here, pls pm me ur details