Mortgage Loan Package Inquiries v2, Loan agents pls read the 1st post!
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 Jun 6 2014, 09:50 AM
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#1
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Junior Member
34 posts Joined: Feb 2014 
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Hi all bankers, i have a question here. If i am interested to purchase a new property cost 600k (around 580 near 600). May i know how much min salary per month in order to qualified for the loan ?. Besides that, another alternative would be joint applicant or guarantor right? Please advise more information on this both alternatives. Thank you
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Jun 6 2014, 10:27 AM
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#2
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Junior Member
34 posts Joined: Feb 2014
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QUOTE(wild_card_my @ Jun 6 2014, 10:14 AM) Hi, based on my calculation, if you only have a credit card, but always pay off your balance (recommended to build your credit history), and no other commitments, you can buy such a house based on a 90% Margin-of Financing loan by having a gross salary of: RM4800 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?However, if you have any other commitments, you would require a higher amount of income to counter the commitment |
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Jun 6 2014, 10:50 AM
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#3
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Junior Member
34 posts Joined: Feb 2014
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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..
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Jun 6 2014, 11:09 AM
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#4
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Junior Member
34 posts Joined: Feb 2014
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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 |
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Jun 6 2014, 11:26 AM
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#5
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Junior Member
34 posts Joined: Feb 2014
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Thats really detailed calculation! and yeah the allowance is fixed permonth
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Jun 6 2014, 11:37 AM
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#6
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Junior Member
34 posts Joined: Feb 2014
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Alright! sure azmi! i'll keep you posted once i visit the property showroom next week
thanks for your great effort and help! |
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