QUOTE(edthrax @ Aug 20 2013, 04:33 PM)
Hi, I'm looking to finance my house in saujana rawang, zara housing project under glomac.
House retail at rm856k, looking to finance at RM645k which is around 75% MOF.
What's the best rate you agents can give ? Looking for 35 years tenure and my age is 30. Should be no problem to get 35 years.
Preferably a Full Flexi loan with current account.
Pls PM me with your offer.
The house is called Zara-0 isn't it? A bunch of bungalows in Rawang? Yeah I have processed some of the loan applications for buyers there. Our banks are panel for this house, so no problem.
1. If this is your 1st or 2nd house, it shouldnt be a problem to get 75% loan
2. Yes, you can get 35 years, the maximum tenure
3. A fixed best of BLR-2.35%, but it can get better depending on your risk profile. Will need to apply you to several banks though.
QUOTE(chaostan @ Aug 19 2013, 11:49 AM)
I'm planning to buy a subsales terrace house @ RM448K in Sg Long. Please furnish me the best morgage loan from your side. I wish to have the maximum loan amount for the property and would prefer CIMB Bank as my priority as most of my transaction is via this bank. I also wish to have the facilities of all the fees (eg: SP, Legal fees and etc..) to be absorb part of the loan and also include the renovation fees as well. Please PM me the best suitable package on this. Location CIMB prefer in Klang Valley.
P/S: Other banks may consider too!
Hello Chaos Tan!
Well allow me to showcase what I can get for you. I am not from CIMB, but I think that is okay because it is good to open yourself up to good and better offers isnt it?
1. As far as rates are concerned, I can get up to BLR-2.45% but that would depend on your credit profile as well.
2. But at the price you are getting, I can confirm you can get AT LEAST BLR-2.35%
3. Maximum loan amount? Well you can get 90% of the house price, plus 4% for the loan agreement, as well as up to 10% for the MLTA
4. Renovation is where OCBC excels. You can get up to 30% of the house price to be you renovation loan. Out of this 30%, a portion will be personal contingencies (you can withdraw this as cash and spend as you like), while the rest will be renovation loan that require a registered renovation-people to withdraw on your behalf after getting your green light.
5. The renovation loan will be rated at BLR - 0%, so it is effectively 6.6%, tenure of 10 years
6. So for your house, you can get RM134,000 as your renovation loan
QUOTE(baka.bakashi @ Aug 16 2013, 08:32 PM)
Need your help for my plan to refinance a double story house.
Owing bank about 210k and market price of the house is around 450k (browse through mudah and iproperty so not sure it's 100% reliable or not)
Plan to refinance for 20 years with the excess money for other investment and house renovation.
Please advice your bank package for a 90% loan if possible.
TQ in advance
Hello Mr. Baka Bakashi, I hope that is not your real name
1. Sure I can help. But the selling price on Mudah/iprop etc. is usually inflated because they expect buyers to nego, regardless, for a loan application, us bankers would need to use a valuer's service to get the loan amount. I usually get a matching price although it can never be guaranteed
2. 20 years? Okay, If you are younger than 35 you can refinance all the way to the maximum of 35 years. Actually, with flexi-accounts, it can be said that it is better to refinance/finance for the longest possible tenure, but pay as if you refinanced/financed the property for the target tenure - doing this will end the tenure to 20 years, and not 35 years, since all the extra money goes into capital repayment. You will get the benefit of being flexible that way.
3. Renovation! Sure, with OCBC/Al-Amin, you can get up to 30% of your house value as a renovation loan, with a maximum tenure of 10 years, and rate of BLR - 0% = 6.6%
4. 90% loan should be fine as long as this is your 1st or 2nd house only
QUOTE(chris251285 @ Aug 16 2013, 04:55 PM)
Hi singdreams, thank you so much !
OD means overdraft right ?
Credit Card, just now CIMB calculate based on my total limit
personal loan , minimum would also translate to monthly repayment right ?
home loan - how do they measure or calculate based on years left ?
Ah yes, different banks have different ways of calculating your current commitments. But from a couple of banks that I know of:
1. For a number of banks that I know of, personal loan will be calculated based on 8% interest per annum, capped at 7 years. Calculated as if it was a hire-purchase loan, so if your personal loan limit is RM50,000
8% x RM50,000 = RM4,000
RM4,000 x 7 years = RM28,000
Total payments: RM50,000 + RM28,000 = RM78,000
Calculated personal loan monthly payment: RM78,000/84 months = RM926/month
I am not saying which bank calculates like this ya, but just saying how it is.
2. For a number of banks that I know of, HL loan will be calculated at the rate of the BLR, with a tenure of 30 years!
In conclusion, banks have differing methods of calculating the DSR. You would probably have a good chance if you try to get it from banks that offer high DSR rates
For example, OCBC offers:
Salary < RM3000 = 60% DSR
Salary RM3000 to RM8000 = 80% DSR
Salary > RM8000 = 90% DSR
QUOTE(bladekiller @ Aug 16 2013, 09:37 AM)
Hi loan agents
Background: A sold property (soho) to B to settle some biz transaction. B instructed to put C's name under the property.
C wants to take up a loan (re-mortgage) at a price below the market value
of the property.
1. Does the normal mortgage loan package applies?
2. Please offer me your best rate+package and all T&C/benefits. (looking at longest tenure, 35 yrs & low entry cost if possible)
3. Does 1st time homebuyer still applies to C?
Info: Net salary around 2.7k (after less EPF, tax,SOCSO, car loan).
Please PM me your offer to the above.
1. Yes, C will have to buy the house from A
2. With OCBC/Al-Amin:
a) Rate will depend on the laon amount (which includes the lawyer and insurances if you need them)
b) Tenure will be 35 years max, or until you reach 70 years old whichever is earlier
c) Entry cost: the Facilities Agreement legal fees can be covered into the loan, the insurances can be either MRTA or MLTA and OCBC does not force you to take either insurance, it is up to you. She is responsible only for the SPA fees
3. Yes it does, and if you want to purchase it as the First-time-home-buyer scheme, it will have to be priced at RM100k to RM400k. Her salary is within the acceptable range for the scheme, she can probably get 100% loan if she does apply. But with the scheme, nothing else can be included into the loan, such as the legal fees and insurance has to be paid in cash.
But hey, since she is buying the house below market value, dont go for the 100% loan and just go for the 90% one.
I hope that helps.
QUOTE(shanelai @ Aug 16 2013, 12:11 AM)
Hi banker, I'm looking for a banker to apply for my housing loan with purchase price of RM1.09m. It is a rush transaction and I plan to sign the application form by this Saturday (17/08/2013) at KL. I will prefer Flexi loan and 90% margin with longest tenure.
Interested party kindly drop me an email with your offer(best interest rate and relevant good offer) to firstname.lastname@example.org.
Ah, Shane Lai, I must have missed you.
If it is not too late, OCBC offers:
1. 35 years tenure or until you are 70 years old
2. 90% margin if this is your first or second house
3. Rate of BLR - 2.35%
4. Option for a renovation loan of a maximum of RM200k, at the rate of BLR - 0% = 6.6% for 10 years tenure
If you are still available and interested, i'd like to help with the application.