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

guys, i notice that there is a feature called fortnightly payments,

and according to the following website,

http://www.mortgagechoice.com.au/home-loan...calculator.aspx

with this payment method, the loan period and the loan amount is reduced quite significantly

e.g. if loan amount is rm 550000, using the fortnightly payment method, time save is 5 years and 6 months, and on top of that the interest rate saved by ~100k. since everymonth, we are paying the same amount, this seems to be a better choice.

Kindly please advice on this. are there any other catch to notice with this kind of repayment?

terima kasih banyak banyak

i believe its due to the daily interest calculation. by paying twice a month, the principle amount is being reduced a little bit more ?!?!

Hi all gurus, i have receive the letter from the developer requesting to pay the 10% completion price. e.g. property total price is 600k, 10% would be 60%.

I have signed the loan agreement and SnP, as the development is still in progress, just want to know how am i going about to pay the interest first? please assist.

hi, i have a question, what is the best way to pay out the loan? is there some guide on this? I would like to put in like 100k to my loan such that i can pay lesser installment. is this a good idea? and what is refinancing means? if it always good to refinance? super noob on all this.