Investment LOAN approved - 60% from income?, different from one third? anyone?
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 Jul 8 2013, 07:46 AM
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#1
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Junior Member
376 posts Joined: Mar 2008  
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QUOTE(woolei @ Jul 8 2013, 01:52 AM) Tat is just the max loan limit...no people will goes to 70% hutang one la.. Lol I believe some did. It all depends on the income. 70% debt for person w 2k salary n person w 20k salary is different. |
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Jul 8 2013, 09:48 AM
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#2
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Junior Member
376 posts Joined: Mar 2008
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QUOTE(ProperTYcoon @ Jul 8 2013, 09:38 AM) bring back income means after deduction of your commitment. I think bring back income means after deduction of epf, socso,pcb so on.. car loan, house loan, card are all included under debteg income 5000 - (500 car loan) = 4500 x 60% = 2700 (Monthly Installment) |
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Jul 8 2013, 09:54 AM
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#3
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Junior Member
376 posts Joined: Mar 2008
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QUOTE(ProperTYcoon @ Jul 8 2013, 09:49 AM) yes of course exactly, clean commitment they'd say In the text they mentioned 60% for NEW borrower only. It means dat repeated borrower can stil go up to 70%? Why ar? |
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Jul 8 2013, 10:05 AM
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#4
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Junior Member
376 posts Joined: Mar 2008
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QUOTE(Mikken @ Jul 8 2013, 09:58 AM) I believe BNM should impose different level for different income. May b shud take into account living area also. 2k permonth in kl may hard to survive but it's more than ok in some state or rural area.Below 3k - 50% Below 5k - 60% Below 10k - 70% More than 10k - 75% Any opinion on this? Let's say u earn 20k nett income, 25% disposable income (after imposing 80%) is still a cool 5k leftover for every month. |
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Jul 8 2013, 10:22 AM
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#5
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QUOTE(DrPitchard @ Jul 8 2013, 10:05 AM) It was never ever 30%. Lots of people get confuse with the 'rule of thumb - 30% of your gross income'. It's just a guideline that your housing loan shouldn't exceed 30%, considering that one will also have other debts such as credit card, hire purchase loan and personal loan. Ya I used to confused w dat too. But ur explanation make it very clear now  soThe rule of thumb 30% is for HOUSING loan alone 70% is referring to TOTAL debt include housing loan, car loan so on. Correct? |
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