Hi yeah thanks for your information. Currently i only have credit card with no other commitment. But my salary has not reach the min yet. So another alternatives would be joint name or guarantor? Would u explain some details on both of the alternatives? Such as joint name must be marriage?

sorry forgot to answer the rest of your questions

No other commitments? GOOOOD! Only have a credit card? GOOOOOD! Your credit history must be perfect, as long as your pay at least the minimum balance of your card every month, or settle the balance every month.

Now to answer your other questions:

1. You can do either a joint name or a guarantor, no problem.

2. For joint name, it can be: spouse, children, parent, parents in law, siblings, siblings in law, fiance/fiancee. For joint name, both applicants' income AND commitments will be pooled together and the loan eligibility will be calculated. If your joint-borrower has more commitment than income, might as well dont join the name . If you have a girl/boy friend, the banks can consider that as a fiance/fiancee too. Cool?

3. For guarantor, most banks are not too keen to do guarantorship, however if you must, it has to be your closest relatives: parents, children, spouse, and siblings only. For guarantorship, different banks have different ways to calculate the income. One bank I know of will only consider the guarantor's income but not the commitments (but this bank will require the guarantor to have up to 2 housing loans already) while other banks may include the guarantor's income as well as commitments.



This post has been edited by wild_card_my: Jun 6 2014, 10:38 AM

I see.. thanks for very detailed information azmi!... so based on the calculation you posted.. others allowance such as shift allowance or other allowance would takes into consideration too? Such that include those allowance, my income would reach 4.8k..

Of course!

But each of the allowances and extra income has the bank's own internal adjustments applied to it. So if you want me to include those, please give me the gross amount and I will help you with the calculation!

Alright, here u go

Base income : rm 4.5k
Allowance : rm 800
Other allowance / 3 month : 380 avg
1 month contractual bonus (13 month salary scheme)

Thanks alot

Is the allowance of RM800 fixed? If yes, ok.

I have removed the 3 month allowance of RM380avg just to be safe, because I dont really know what it is without looking at your payslip

The 1 month bonus is included in the calculation.

Her you go. Let me know if you want to keep it private?

Thats really detailed calculation! and yeah the allowance is fixed permonth .

Cool. Let me know if you need help with the application. I have 6 banks under my care, it's a one-stop service.

Also if you have friends and family who are looking for the best mortgage service, well you can tell them what you discovered today.

Have a goooooood weekend!

Alright! sure azmi! i'll keep you posted once i visit the property showroom next week thanks for your great effort and help!

Cool, by the way there is a disclaimer ya to the calculation. I have been doing this for years and I always get it right, but approval/rejection of your loan can depend on many factors.

hi, if u interest in alliance bank, please kindly pm me
alliance bank got the scheme call guarantor scheme for housing loan, if u interest , pls do not hesitate to pm me

Just thought that I'd let you all know that I can do the following banks directly, for both Islamic and Conventional:

a) Maybank
b) OCBC (guarantor scheme available)
c) Alliance (guarantor scheme available)
d) Ambank

And I have a league of other bankers who I chose to help me with these banks for both Islamic and Conventional:

a) RHB
b) CIMB
c) Bank Islam
d) Public Bank
e) HSBC
f) Hong Leong

I hope I can be all of your one-stop center for your mortgage needs. I will serve all of you just as well as I am serving the rest of you on this forum, by sharing my know-how interms of mortgage and other financial planning needs.

This post has been edited by wild_card_my: Jun 7 2014, 01:56 PM

deleted

This post has been edited by Ascendant: Feb 21 2016, 01:19 PM

Hello!

Is there any other income? Rental income perhaps? And what is the outstanding balance of the housing loan?

Will ya push the bank that give u highest commission to client even though its not at the best interest of customer?

If pay only min amount for CC every month, how will the CCRIS, CTOS affect the loan approval?

It will still look good on your CCRIS as in you will not have a late payment. But the outstanding balance will be reflected in your record and the CC commitment will be calculated as 5%of the CC balance

I'm thinking of refinancing my house. Anyone know what the rate given by these banks?
Maybank
CIMB
OCBC

My house still have RM192k balance. and the current value is RM500k. If I wanna do cash out option, which bank that still haven't start the 10 years tenure capped option.

thanks

Hello, so far, these are the 3 banks that I know off that allow the borrowers to repay their cash-out portion in 35 years:

OCBC
Alliance
Bank Islam


The rates depend on your credit score as assessed by the bank.

I can do these 3 banks as well as Maybank and Ambank directly as a Mortgage Broker. Please let me know if you are in need of my services.

Thank you.

The commissions received are the same from each bank, and you are misunderstanding the purpose of a broker. A broker carries so many banks to provide solutions to the clients as not all banks have the same terms, rates, and calculations of the net income and commitments. As such, by approaching the broker, one could see solutions from multiple angles than by going to just a single bank officer.

Any other brilliant questions MNet? You seem to be very interested

This post has been edited by wild_card_my: Jun 9 2014, 08:10 AM

Hi, I want to know whether I can buy this property or not:

Salary: RM3667 (Net, w/o EPF/SOCSO/Income Tax deduction)
Property: 350K - 400K (second hand condo/apartment)
Commitment: Car Loan (RM574) and PTPTN loan
Credit Card: full payment every month

May I know is it I only can buy property below 400K or I can buy property above 400K?

Thanks.

If I dont declare the cc debt upon apply the loan, will the bank find out?