Mortgage Loan Package Inquiries v2, Loan agents pls read the 1st post!
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 Apr 13 2015, 02:37 PM
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#1
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Junior Member
44 posts Joined: Jul 2014 
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Hello any bankers here. I got a question to ask.
Let's say I'm buying a 2nd hand house (have previous owners), then the owner is quoting me at RM600,000. May I know how much will the bank loan to me if this is my first hse. From what I know, banks will loan the amount based on their valuer's report on the market value of the property. Is it true? |
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Apr 13 2015, 03:36 PM
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#2
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Junior Member
44 posts Joined: Jul 2014
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QUOTE(ims2628 @ Apr 13 2015, 02:48 PM) Bank will loan the amount base on bank value, not market value, market value sometime might higher. If 600k need prepare 60k down payment, if loan margin is 90% Thanks. another question now. How do a bank value the property? Seller 600 may not be bank's value. From what I hear, they have a valuer for it. But how does the valuer derive the value.  |
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