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> Mortgage Loan Package Inquiries, (Strictly NO Promotion Allowed)

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realitec
post Jan 25 2018, 10:41 AM

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QUOTE(Win Win Inspiration @ Jan 25 2018, 09:48 AM)
You are still young and having a great pathway to work on, certainly you will get there in few years times friend.
You have a very pleasant personality (from the way you ask question and communicate) and good mindset, certainly you can make a great career.
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Its happy to see the sentence presented by you in this way. I appreciate your inputs. I will work harder and one day I will be successful as you smile.gif Thank you.
shalzkasbsp
post Jan 25 2018, 05:53 PM

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Hi all,

Just booked my 1st property in Shah Alam last week and want some advice regarding the loan

Minus all the DP, and other rebates my hse balance is RM 758,700. My joint loan was submitted for 800k ( Balance Hse amount + legal fee<10k> + MRTA.

Agent only applied to 1 bank which is RHB, it was approved with this terms
Full Flexi Loan@ 4.25% with MRTA of RM 32,000 ( BR + 0.60% pa)


i checked with the banker if i can remove the MRTA since i have a life policy of RM 1M already on my name ( want to convert to MLTA) but he said without the MRTA bundled in the interest rate will be 4.4%

Anyone been in a similiar situation before? any opinion or advice is greatly appreciated

This post has been edited by shalzkasbsp: Jan 25 2018, 05:54 PM
lifebalance
post Jan 25 2018, 05:57 PM

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QUOTE(shalzkasbsp @ Jan 25 2018, 05:53 PM)
Hi all,

Just booked my 1st property in Shah Alam last week and want some advice regarding the loan

Minus all the DP, and other rebates my hse balance is RM 758,700. My joint loan was submitted for 800k ( Balance Hse amount + legal fee<10k> + MRTA.

Agent only applied to 1 bank which is RHB, it was approved with this terms
Full Flexi Loan@ 4.25% with MRTA of RM 32,000 ( BR + 0.60% pa)


i checked with the banker if i can remove the MRTA since i have a life policy of RM 1M already on my name ( want to convert to MLTA) but he said without the MRTA bundled in the interest rate will be 4.4%

Anyone been in a similiar situation before? any opinion or advice is greatly appreciated
*
Bank will insist to sell you the insurance but you can request for minimum amount, but definitely you'll need to buy some if you want low interest rate.

rainbird
post Jan 25 2018, 06:32 PM

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25 Jan 2018

Bank Negara Malaysia increased the Overnight Policy Rate (OPR) today by 25 points to 3.25%.
lifebalance
post Jan 25 2018, 06:36 PM

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QUOTE(rainbird @ Jan 25 2018, 06:32 PM)
25 Jan 2018

Bank Negara Malaysia increased the Overnight Policy Rate (OPR) today by 25 points to 3.25%.
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biggrin.gif already said that few months back
hidayat14
post Jan 25 2018, 08:24 PM

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Should you encounter customer getting LO from Maybank with interest rate offering 4.22, it might be a fraudulent LO as it is rampantly happen in Maybank. Apparently Maybank was hit by more than 100 cases on the above MO. If your customer is offering 4.22 check and confirm whether it is a genuine offer.

i received the message above from one banker. is it really true? also for MBB murabahah commodities, i cant finance the loan legal fee and valuation fee? please help. thanks.
lifebalance
post Jan 25 2018, 08:27 PM

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QUOTE(hidayat14 @ Jan 25 2018, 08:24 PM)
Should you encounter customer getting LO from Maybank with interest rate offering 4.22, it might be a fraudulent LO as it is rampantly happen in Maybank. Apparently Maybank was hit by more than 100 cases on the above MO. If your customer is offering 4.22 check and confirm whether it is a genuine offer.

i received the message above from one banker. is it really true? also for MBB murabahah commodities, i cant finance the loan legal fee and valuation fee? please help. thanks.
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I would be more dumbfounded if you've applied the loan through a banker and yet get a fraudulent letter offer.

It just doesn't make sense.

That depends on the loan package and loan amount you're taking. Best to confirm with the banker you're applying with.
lavenzo
post Jan 26 2018, 08:38 AM

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hello i have loan with MBB now with 3 +1.25 % so with recent announcement from BN to increase interest by 25pt does that mean my loan will now become 4.5%?
ngph988
post Jan 26 2018, 09:14 AM

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QUOTE(lavenzo @ Jan 26 2018, 08:38 AM)
hello i have loan with MBB now with 3 +1.25 % so with recent announcement from BN to increase interest by 25pt does that mean my loan will now become 4.5%?
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Subject to bank's discretion. If MBB deem to increase the interest rate, they will send notification with adjusted rate with immediate effect.
lifebalance
post Jan 26 2018, 09:30 AM

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QUOTE(lavenzo @ Jan 26 2018, 08:38 AM)
hello i have loan with MBB now with 3 +1.25 % so with recent announcement from BN to increase interest by 25pt does that mean my loan will now become 4.5%?
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Should MBB announce increment of 0.25 then yes it will be effectively 4.5%
lkoksiong
post Jan 26 2018, 05:04 PM

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Hi Sifu,

Now got any bank announce to increase interest by 25pt?
lifebalance
post Jan 26 2018, 05:05 PM

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QUOTE(lkoksiong @ Jan 26 2018, 05:04 PM)
Hi Sifu,

Now got any bank announce to increase interest by 25pt?
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Not yet, you can keep your eye on the financial news
dannychen
post Jan 26 2018, 08:41 PM

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QUOTE(lkoksiong @ Jan 26 2018, 05:04 PM)
Hi Sifu,

Now got any bank announce to increase interest by 25pt?
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cimb increase by 0.25% effective from 2nd of February 2018
lkoksiong
post Jan 27 2018, 07:38 AM

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Thanks @lifebalance @dannychen
TeeKanne
post Jan 27 2018, 07:38 AM

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Hi,

I am buying my first home. I thought I could get a full home loan since my credit report is quite good. However, just applied one of the major banks but my loan was only 90% approved. Can you sifus teach me how to get 100% loan? I really jaga my credit history but still cannot get 100% loan. Anyone can PM me if this is against the thread rule.

Secondly, is there like some sort of tier in loan. Above 500k can get full loan?
lifebalance
post Jan 27 2018, 11:00 AM

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QUOTE(TeeKanne @ Jan 27 2018, 07:38 AM)
Hi,

I am buying my first home. I thought I could get a full home loan since my credit report is quite good. However, just applied one of the major banks but my loan was only 90% approved. Can you sifus teach me how to get 100% loan? I really jaga my credit history but still cannot get 100% loan. Anyone can PM me if this is against the thread rule.

Secondly, is there like some sort of tier in loan. Above 500k can get full loan?
*
You need to make sure you fulfill the criteria below

Eligibility
Individuals aged 18 years to 40 years only
Malaysian citizen only
First time home buyer only
Single borrower/customer gross income not exceeding RM5,000/month
Joint obligors gross household income not exceeding RM10,000/month (based on gross maximum income of RM5,000/month per obligor)
Payment amount must not be more than 1/3 of monthly income
Business owners/directors/partners/sole-proprietorship are not allowed
Property value from RM100,000 - RM500,000

chonghe
post Jan 28 2018, 07:51 PM

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Maybank increase BR 0.25% effective tomorrow. Guess all other major banks will follow
mv_wong
post Jan 29 2018, 10:54 AM

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I would like to ask, are all bank's full-flexi, semi-flexi home loans that allows one to pay more in advance in order to reduce interest has a capping that we can pay?

I've checked that HLBB has 30% (semi-flexi) and 70% (flexi). and Citi is 70%.

Is it worth going full-flexi although we may not need it, in order to get a higher capping?
lifebalance
post Jan 29 2018, 10:57 AM

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QUOTE(chonghe @ Jan 28 2018, 07:51 PM)
Maybank increase BR 0.25% effective tomorrow. Guess all other major banks will follow
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user posted image

it's a good time to start refinancing biggrin.gif

QUOTE(mv_wong @ Jan 29 2018, 10:54 AM)
I would like to ask, are all bank's full-flexi, semi-flexi home loans that allows one to pay more in advance in order to reduce interest has a capping that we can pay?

I've checked that HLBB  has 30% (semi-flexi) and 70% (flexi).  and Citi is 70%.

Is it worth going full-flexi although we may not need it, in order to get a higher capping?
*
Unless you have so much capital to put in the first place, otherwise, the 70% capping doesn't really matter much.

However, if it does bother you, there are many other banks who don't have such capping like MBB, RHB for example.
ngph988
post Jan 29 2018, 11:45 AM

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QUOTE(TeeKanne @ Jan 27 2018, 07:38 AM)
Hi,

I am buying my first home. I thought I could get a full home loan since my credit report is quite good. However, just applied one of the major banks but my loan was only 90% approved. Can you sifus teach me how to get 100% loan? I really jaga my credit history but still cannot get 100% loan. Anyone can PM me if this is against the thread rule.

Secondly, is there like some sort of tier in loan. Above 500k can get full loan?
*
For 100% loan, please find the criteria below.

WHO CAN APPLY
Malaysian citizen
First-time home-buyer
Individuals up to age 40 years
Single borrower gross household income not exceeding RM5,000/month
Repayment / payment of total financing obligation amount must not be more than 60% of the net monthly income

MINIMUM LOAN AMOUNT RM100,000 (exclusive of MRTA).

LOAN MARGIN Up to 100%

LOAN TENURE
Minimum: 5 years
Maximum: 35 years or age 65 whichever is earlier

ELIGIBLE PROPERTY
Residential properties located in Malaysia
Minimum property value of RM100,000
Maximum property value of RM500,000
Owner occupied (buyers are required to reside in the property)

FINANCING REQUIREMENTS
Installments payable via monthly salary deduction or standing instruction
Compulsory Fire insurance/takaful and

- Saying your net income only capped at 60% only and no default payment in banking facilities. Hence. it is not advisable to apply 100% loan unless you have criteria above. Standard procedure suggested applicant should apply for 90% loan margin and bank DSR calculation shall follow to its original criteria instead of capped at 60% DSR. This will give you more allocation of your income towards new commitment.

QUOTE(mv_wong @ Jan 29 2018, 10:54 AM)
I would like to ask, are all bank's full-flexi, semi-flexi home loans that allows one to pay more in advance in order to reduce interest has a capping that we can pay?

I've checked that HLBB  has 30% (semi-flexi) and 70% (flexi).  and Citi is 70%.

Is it worth going full-flexi although we may not need it, in order to get a higher capping?
*
It depends on your financial position. If you very often withdraw/deposit then full flexi will meet your purpose. If you are salaried employee just to place extra money to deduct interests then semi flexi is a better choice. Semi flexi will require account holder to notify bank for withdrawal as the money only deposits in loan account, bank will take approximately 5-7 working days to work out withdrawal via cheque or online banking.

Please find comparison as below.

Full Flexi:
1) Loan Account will be linked to Current Account/Saving Account with cheque book (optional).
2) Interest is based on current outstanding minus any amount payable to the loan. (E.g : Current O/S - credited amount x Interest payable/100% / 365 days) Some bank practice 360 days instead.
3) Account opening fees at RM 200 + 6% GST.
4) Account maintenance fees at RM 10 +6% GST.
5) Withdrawal/Deposit of money can be done through over the counter, cheque, ATM or online banking.

Semi Flexi :
1) Bank will request customer to setup a Saving Account link to Loan Account through Standing Instruction (SI).
2) Prepayment or capital payment can be done.
3) Prepayment, placing future repayment to Loan Account and it has to be multiple of your monthly repayment. This will not revoke interests saving on Loan Account.
4) Capital repayment, placing extra payment to Loan Account to reduce principal. Some bank will require you walk in branch to fill up service form.
5) Withdrawal/Deposit of money can be done through over the counter or cheque.

This post has been edited by ngph988: Jan 29 2018, 12:24 PM

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