Yes you can visit bnm and print your ccris. it will be very concise and detail.

Estimation
because diff bank diff method of calculation.

50% off for stampduty loan and stampduty snp.

Just my 5 cent.

This, it's based on whether PTPTN updated their student loan data correctly to the BNM and does the BNM ccris operating department do their part well in updating timely of the data.

So there isn't any surefire way of answering you this question.

But being punctual is better than not paying at all.

By not paying, you are betting on 50/50 that your ccris will be alright.

Conclusion,
Just pay on time and nothing more to worry in your future loan applying endeavor.

1.
Outstanding Rm200k
Refinance amount RM585k (after 90% MOF)
you can cash out "RM385k"

Yes you can settle the RM 300K with the refinance cash out.

2. General total loan paid (simple illustration)
zero moving vs non zero moving "RM585K"
-if use normal calculation for total refinance paying off normal 35years

Non Zero moving 4.45%
-Total interest RM577,791

zero moving 4.7%
-Total interest paid RM608,409

Difference by RM30,618 (In actual fact less than this)

(small difference in total interest saved)

3.
-Easy, i will opt for zero moving cost, because I can leverage purchasing this property RM11K less.
-I will increase my CASH ON CASH RETURN & ROI, because I paid lesser entry cost.
-saved me money and cash, so that I can invest in new property with the rm11k

4. calculation for the top up part installment is based on 10 years loan tenure, hence installment will be higher. But if your property is unencumbrance, your cash out loan tenure will be 35years loan calculation (applicable to some bank only)

5. Given that you have zero debt (look at the table)
Finance rm200k term loan
cash out rm320k
will be the most ideal, as it keeps the dsr in 70% (70% most ideal for most of the bank)

above is the an illustration.

* would need more details to calculate

6. i would prefer non zero moving cost, as this is ideal for property investing perspective. LOW INITIAL INVESTMENT.

*I would need more details from you bfore I could calcualte your eligibility*

It depends on what perspective you are, as a property investor, the best decision is always to keep your initial capital as low as possible, loan tenure as long as possible. We are playing leverage game with fiat currency system, money depreciates in value, goods inflate in value.

Game plan is, to keep your self as liquid as possible to pay off down-payment for future property purchases.

I will recommend that you absorb all your legal fees, stamp duty fees and Valuation fees into your loan and take the lowest rate 4.45%.
The absorption of lvs fees will definitely increase your interest. 11K lvs compounded throughout 35 years will be around 15K in 35 years.

Yes, you will be paying higher installment. In investment perspective, to get as much capital to invest and paying lowest interest rate.

Just my perspective.

ZMC, 4.75%, 7 years and refinance later...
Bro, you will be paying high interest and refinance in 7 years time, it will cost you legal loan, stamp loan and valuation fees. So you will be paying more to the bank. Bank will say thank you brother.

I have tabulated 2 analysis on your condition

1st picture without any debt
-You can purchase property price highest at RM650,000 from Hong leong bank
-RM 450,000 property price from the rest, loook at right botom column.
-30 years rate lets' say 4.5%, your installment will be RM2964 /month for RM650,000 property
-but without any debt, bank would not have any access to your financial payment pattern. This isn't a good news as bank doesn't know you, your ccris is your personality for the bank. There's a probability that bank would slash your margin of finance.

Solutions, if your margin is slashed due to no debt.
1) Joint name
2) Apply for unsecured lending loan to build up your ccris status, this will takes time.


2nd picture with car debt (borrowed around RM45,000 for the car)
-You can purchase max RM510,000 property from hong leong bank
-RM 403-300K from the rest of the banks (look at bottom right)
-Even when you secured you car loan, your ccris activity will only be few months, there's still possibility for bank to slash your margin
- Bank would trust a 6 months - 1 year ccris payment sstatus
- 30 years/ 4.5% RM510K property price installment= RM2325.7


For 100% loan
- It's your first house, you are qualify
Do read up on the other criteria posted on the web
http://www.srp.com.my/en/criteria.html

- But bank being bank, they would prefer client with good track record of debt payment than zero ccris record.

1)

It depends what's your financial goal, when looking at your details, there's myriad of ways to do it. But really depends what you want in the end.
Lets' say you are in property investment perspective.

a) You don't need to sell your 1st property, as it is making a good rental yield
Rental yield (Rm8500x12)/(rm1,100,000 previous property price estimation) = 9.2%

But there's lots of cash stuck inside it. I would recommend you refinance cash out/ top up the money out around RM1million cash out. Why 1 million?
because the installment for the 1million cash out will be around RM4500 where your rental income still can cover without any loss.

With the 1million cash, use RM200K to settle unsecured lending debt that you have.
RM200K as liquid cash for emergency usage
RM600k for creative accounting

Use RM600K to create more higher income for yourself which will qualify you for more properties in the future, take 3-6 months preparation.

After you have create more capital holding and loan eligibility for yourself, you can start invest in valued property and keep rolling in this way.

(*Remarks, this is a high leverage game, but I prefer property investment compare to others)

b)If your second property or 3rd property couldn't make any good rental and the property appreciation is in stalemate, it is preferable you sell if off and reinvest in a much more promising projects or undervalued property

c) It is best to keep your self liquid and with high capital holding, with this current market, there will be a much higher % of people force selling their own properties. So make sure prepared your self for good opportunities like this.

d) Remember agriculture land can't be refinance. Anyway, if you have spare cash, invest into properties as how i mention above and of cos, diversify your investment into other assets.

e) If you need more cash, you can of cos cash out more from your 1st and 2nd properties (given that your income able to qualify for that amount.

f) there's so much investment opportunities out there, all I can advise for now is in mortgage and properties.


2)Will need to know how much your borrowed for each properties for much accurate analysis whether you qualify for your 1million property investment
a. Income (borrower)
- net salary
-OT
-Allowance
-Bonus

b. Supporting income (borrower)
-Tenancy agreement
-ASB ( 2 years total bonus)
-Shares
-Fixed deposit

c. Debt / commitment (borrower)
-Hire purchase loan (Borrowed amount)*
-Housing loan (Borrowed amount)
-Personal loan (Credit limit)
-Credit card (Outstanding)
-ASB loan ( credit limit)
- Overdraft ( Credit limit)

Yes, credit card unsecured lending will be recorded inn your ccris.
having credit card will be alright!

Yes, legal fees, stamp duty fees and valuation are calculated with tiers.

Legal S&P:

<=Rm150k = 1%
<=1million = 0.7%
<= 3million = 0.6%

Legal Loan:

<=Rm150k = 1%
<=1million = 0.7%
<= 3million = 0.6%

Stamp duty S&P

<=100K = 1%
<= 500k =2%
> 500k =3%

Stamp duty loan

0.5% on total loan amount

Valuation fees

100k = 0.25%
<=2million = 0.2%
<=7mil =1/6%


This are the tiers payment, it is the bottom net price you have to pay, there is lots of other cost (gov tax, strata transfer ownership fees, S&P preparation fees,
professional fees, etc etc)

Yes, purchasing higher property prices, your LVS fees will follow accordingly.


But anyway, first time home buyer you will get
1) 50% discount on stamp duty

Moreover, you can actually request lawyer to give you good discount, at least the fees aren't that outrages though.. haha

This post has been edited by Madgeniusfigo: Oct 10 2015, 11:51 PM

To make things clear, yes Stamp duty S&P as MOT is much accurate. You will pay for the MOT when transfer of title happens for Undercon project, it will take few years time until developer successfully applied strata/indiv title.

For subsales, you will straight away pay MOT and STAMP duty S&P.

Anyway, you will still pay the same amount at the beginning for subsales and undercon, because usually lawyer doesn't want any delay for the title payment when it is transferable, hence they will request the payment to be done all together.

The calculation part, yes it will be around that figure. Most accurately ask lawyer to quote and remember to ask for at least 30% of discount . Usually clients get 30-40% discount.

1) We can't predict how BR will manifest in the future yet, as we still don't have much reliable sources to predict it. But so far, banks BR changes and some stay stalemate. It really depends on how banks wants to play the game and their appetite.

Br+ spread%

Spread is the fixed cost through out loan tenure.

When maybank move more than RHB, it will definitely not in your favor. You are right. But the tendency for MBB BR to rise is less compare to RHB as MBB has lock 1.3% spread on you.(my assumption)

2) best is to chose effective lending rate which is lowest.

3) If you are business owner, it is best if you take full flexi, because full flexi allows flexibiliy in crediting lump sum and withdraw lump sum with ease in capital account. Business owner usually have huge inflow of cash for certain period of time, which they can parked into capital account to save interest and park out the cash for further business transaction, with ease

4) For normal employee, assume that there's no huge lump sum cash received, it is best to stick with semi flexi. As full flexi will cost you rm10 / month to maintain the current account.
Instead of paying rm10 for current account, pay extra rm10 installment monthly, it will save you RM5850.82 interest and 7nmonths payoff earlier, which is much better/

5) Both bank has almost even number of branches in the state, so it is easily accessible.

6) I would vote for MBB, but bear in mind. MBB has processing fees RM221, remember to ask your agent to try her his best to waive it. Moreover MRTA is waivable, in most cases, MBB doesn't need MRTA to give better rate.

My honor to be able to help you

It can be done.
Letter of increment, payslips, bank statement to match the figure.
A good explanation to the department will be sufficient.

For income more than RM3000, the DSR would be around 70%-85%
For income less than RM3000, the DSR will be around 55%-60%


It really depends on which bank, different banks DSR threshold for each income group is different.

For you RM5,500 the DSR threshold will be 70-85%



1. Your bonus is performance bonus or contractual bonus?
2. Can provide last year EA?
3. is your tenancy stamped and valid?
4. For your commitment, can you list down:
-Hire purchase loan (Borrowed amount)*
-Housing loan (Borrowed amount)
-Personal loan (Credit limit)
-PTPTN (credit limit)
-Credit card (Outstanding)
-ASB loan ( credit limit)
- Overdraft ( Credit limit)

For better accuracy

5. For your cousin, pls do as above too.

6.For side income, receive by cash? Yes it can be done but need to explain nature of the business, as why the income receive by cash.

7. If both of your ccris, financial profile and DSR is within the threshold, 90% will be high. But need to work on the analysis first.

8. If this is your first property, you can go for 100%

9. How much of the property price you are purchasing?

With the above details.


-Income
from your rental, bonus and salary + your cousin.
Debt housing loan and car loan

-Your cousin's and your debt and commitment will be calculated together.

-If it is 2nd property for you and joint name with cousin. 100% won't be eligible.

-purchasing RM999,000 property with 90% margin of finance.

-The DSR will be 66%, not that bad. but below most of the bank threshold 70% DSR

-look at bottom right, 5 of the banks will be able to finance your loan amount.

-RM999k property, you will be paying RM4255 installment/ month

-It looks bright with the details given, but I shall not promised you with anything. Because I haven't seen the actual documents and your ccris.

-PTPTN debt will also be a factor, so it's better to tally with ccris before confirming you with 100% loan acceptance chances.

Hope that this info helps you.

This post has been edited by Madgeniusfigo: Oct 15 2015, 03:12 AM

No problem,as long as it helps.

Credit card debt calculation is quite standard across bank, they will calculate the outstanding debt based on 5%.

Example:

1.Credit card outstanding from Month october 1 - Month october30 is RM6000 total outstanding. On the 15th of November, CCRIS update will show RM6000.

For RM6000, your debt will be RM300 (RM6000 X 5%).

CCRIS will not show credit card outstanding amount if you pay off outstanding balance on time every month within grace period.

2. If you only pay the minimum amount, your ccris will not have any arrears but the outstanding amount will be shown, hence commitment will be calculated.

This post has been edited by Madgeniusfigo: Oct 13 2015, 12:00 PM

Yes, few of the banks really have such a problem. My clients who has loan with certain "bank", they tried calling service centre to ask some loan mortgage questions and the service respondent aren't equip with the knowledge to answer them, in the end client can't get any answer out of them. It's not rare.

The best is to walk in to the branch and ask or contact your loan agent who helped you to deal the case.

Seek mortgage consultants who are able to:

- Pre-assess your loan qualification
-Who ask a lots of question regarding your personal finance, nature of purchasing property, nature of your business, nature of your DSR. The more you disclose to them the more would be able to increase your loan approval chances.
-Consultants who are passionate in helping you. Sometimes they need to write 1 long essay in order to explain your conditions to improve your chances of loan approval
-Who keep you updated from time to time, this is the quality where it shows that they are eager to help you and do their best to secure your loan.
- Who doesn’t over-promise (or compromise). Overpromise is fatal.
- Who could answer all your inquiries and being honest if they are not sure about it.
-Who take all available documents from you (to reduce any trouble and delay), assess and provide you the best solutions
-Who have multiple banks in hand, because different banks have different policies. They will understand your profile and select a sure win bank for you.


For the template, it is better to get it from the branch.
Template example simple and easy way:

"
To ABC Bank

Please take this as my formal notice that I wish to service full loan installment effective xx/xx/xxxx for the property charged by ABC under the reference no: 701-0000000-001.

Regard
MR abcdef
"

This post has been edited by Madgeniusfigo: Oct 13 2015, 02:31 PM

Dear Diversity,

Good evening,

1. That's a good news Hence won;t be much hiccup in your loan application.

2. Remember not to utilized your credit card usage more than 80% of your credit limit. This will instill less confidence in bank to borrow you cash.

3. with your payment of credit card perfect in CCRIS, your loan application for RM300K property financing wouldn't be a problem.
Only thing is 90% margin of finance Rm330,000 loan can only be financed by RHB, the rest of the bank could only finance Rm320k loan amount, which is 85% margin of finance.

4. Best if you have below additional document which can boost your income:
a) Tenancy agreement
b) FD
c) BONUS (performance or contractual) 2 years bonus amount
d) ASB dividend bonus for 2 years
f) Shares

5. You can finance 90% of the RM370K property for RHB only. 85% for the rest of the banks.




This post has been edited by Madgeniusfigo: Oct 16 2015, 05:13 PM

Dear Mrlovesmrs21,

I will speak on behalf the banks that I represent.

1. Different bank will prefer different combination of documents.

2. Maybank would prefer complete documentation on your income sources. Means maybank will tally your payslips income with EPF & bank statement. Without either EPF or bank statement, Maybank wouldn't acknowledge your income, hence loan application fail. Exception is you have high net worth.

3. For other banks. They allowed income document combination of either Payslips + EPF or Payslips + Bank statement. Either one can tally the income credited will be valid. This is more flexible, whereby when company doesn't contribute EPF, the employee still capable of applying loan with Payslips + bank statement salary deposited monthly.

4. For OCBC, they will allow income documentation solely on EPF document only. They will derived your income based on the amount of EPF contribution by employee.

5. Conclusion
some bank will prefer to look at combination of bank statement showing salary deposited each month + Payslips.
some bank will prefer look at combination of bank statement showing salary deposited each month + Payslips + EPF
some bank allows solely EPF document

It is best that you could provide all 3 documents. So get your self prepared.

You can read the below article I wrote regarding, How working class group can prepared themselves to secure housing loan in the future
5 tips to secure housing loan for working class group

No problem, hope that the information serves you well