Dear yeeck


^ lifebalance is right

Cheers

Dear

1. Yes it can be done

Cheers


Dear


1. Based on the details given by you, Your max loan eligibility for each bank is as follow:


2. Zero debts?

3.
Things to take note of based onmy max loan calculation
" -The best bank to get the highest loan would be HLBB . However, each bank has it's own ball game
Different bank will calculate your income and debt accordingly based on each bank's different policy. Hence,
I would need to do a due diligence on your profile before suggesting the best bank to proceed with."

" - I would need to check you CCRIS, CTOS and income documentation before giving you any assurance.

If everything goes fine, 90% shouldn't be a problem for you."



Dear



1. Based on the details given by you, Your max loan eligibility for each bank is as follow:

Things to take note of based onmy max loan calculation
" -The best bank to get the highest loan would be HLBB . However, each bank has it's own ball game
Different bank will calculate your income and debt accordingly based on each bank's different policy. Hence,
I would need to do a due diligence on your profile before suggesting the best bank to proceed with."

2. 89% can be done

3. However, if you have any bonus, commission, rental income that can back up your income, will be great

4. let me know
Cheers

Dear

What's your commitment?

1. car loan
2. housing loan
3. personal loan?

CHEEERS

Dear,

1. This happens not often but does exist

2. They want the banker they partner with earn the com, so that they can work together nicely in the future, perks for the branch

or

they only gave such deal to the branch only

3. cap max bank that you can apply, that's new. As any developer would encourage you to go for any bank that would approved your loan

4. make a call to the developer, if they really have such clause, just abide.

else it's just some hoax from certain agent who wanna make some $$


haha

Cheers

Dear

1. You have stated the bank

2. rate is one thing, another is the facilities and services you need to take into considerations.

A. Banks that are easily accessible to your vicinity, why take loan offer form bank when you need them, you need to drive 20-40km.

B. Customer services, go with bank that offer tremendous value added service, try calling their hotline whether easily reached and are they responsive and helpful. In long term, this will lessen any unwanted hassle.

C. Semi or Full flexi that suits your criteria. SOmetimes, different banks semi and full flexi mechanism is different

D. Does the loan package has the right features that you need? Finance legal fees, semi/full/fixed/islamic loan ? lock in period or without? defaultment period ? loan account is it link to saving or current account?

E. Does the consultant serves you well?

etc all this that must put into consideration into long term perspectives instead of just interest rate. Effective interest rate right now is quite short term view.





1. It really depends, on ur risk and insured objectives
2. Of cos it iwll be great to take insured over the life time of your loan, but the premium will be higher.

Hence it's factoring your cash flow, your insured amount needed.

Usually the protection offered by 3rd party would be much better than bank's protection features


4.35% for RHB is quite good
Cheers


HAHAHAH no gf no waify really save you lots of money and boost your cashflow!

1. RM600K, loan only credit card

safe calculation is
Gross income 5-6k

2. How much your gross income needed, really depends on your debts in ccris, if you are keen to disclose

Cheers

Dear

MRTA will be lapse, with some cash back according to their quotation

Cheers

Nope

Dear

1. Each bank has diff conversion, look at the bank exchange rate and reduce slight 1%, would be your loan calculation based on SGD income

2.MAX loan calculation

based on your gross income and debts based on your singapore credit bureau

CHEERS

This post has been edited by Madgeniusfigo: Oct 17 2017, 12:59 PM

Dear

Different bank has different profile rating on the interest they offered.

Hence, each bank is different

HSBC isn't keen on your profile or that property location



Dear

1. The best is refinance within the same bank, which is top up loan, if there isn't any changes on the borrower and spa owner

2. As cash out, your legal loan fees will be charged on the top up amount only

3. There's no legal spa incurred as no ownership changes.

4. You can see why it is cheaper to top up, and on top of that, top up loan takes 1month+ or less for the cash to disbrused

5. Except, if you really hate the bank, you refinance out or you wanna change the borrower or spa owner or the other bank rate is tooooooooo sexy

else no point refinance to other bank

Cheers

Dear

1. certain bank MRTA is compulsory, certain branch is compulsory.. certain bank need hit the quarter target

Cheers

Dear,

1. Yes, they are keen

2. well, it is the same. first 2 housing loan capped at 90%, 3rd is 70%

3. Auction price

4. All bank would be the same

Cheers

Dear

1. bumi discount will be offered from developer for certain units. 7% discount on the spa price

2. most of the project has a certain quota for bumi discount units

3. if the property title stated restriction of bumi lot it is applicable to sold back to bumi, however there's cases where ppl successfully sold it to non bumi, the hard part is the title transfer part with restriction.

Cheers

Dear

1.why convert to bumi lot?? =_=

2. if it's non bumi let it be, don't have to complicate this..




Dear

1. lot of bank offer promotional rate right now, 4.2-4.3% !


Yes

3.



a. PREVIOUSLY there's product BBA, whereby if you settle the loan early, you still need to pay more than u owe.. lol.. that's old product, now is (MM)


-For islamic loan there's 2 package for it, that is Bai Bithaman Ajil (BBA) and Musyarakah mustanaqisah(MM).

Your HLBB would be MM

For BBA there's a max cap amount that you pay.
example
RM200K LOAN/ 5.5%/ 30YEARS =Installment RM1135.58

Total price to be paid is = RM1135.58 X 30 =RM408,808

This price stated in the contract will be the absolute price, the fixed profit has added into the total payable amount. For loan settlement, For usual loan, you will just need to pay off the outstanding balance stated in the bank, but For BBA product, the total paymentis very vague, no actual formula For it.

Musyarakah mustanaqisah
-tries to be the complete and newer version of islamic loan
- it is similar to conventional loan in terms of interest calculation, interest rate, early repayment and capital repayment. The difference is this loan is a Profit loss joint venture for you and the bank. Starting 10% (DP) will own by you and 90%(bank puchase from the seller) so that doesn't breach syariah law.



Dear

1. it depends which bank, certain bank for best rate, must tie with MRTA... else how bank earn profit

2. As mention, certain bank

3. I just help a client of mine approved HLBB loan 4.28% without MRTA, but the loan amount is RM270K

Cheers

Dear

1. each bank has their own template to calculate

put it simply minimum mrta 3-5 years

2-5k onky


2. You can ask him to reduce to minimum, at first he she will reject, cos he need to redo the whole loan again. haha

3. If he reluctant, do meet up the branch manager.

Cheers

Dear

1. is this a subsales or project

2. if project, affin bank seems the better choice

other considerations:

For me, if the ELR is the same, spread rate different isn't differ by alot, I will chose according to few criteria as below:

A. Banks that are easily accessible to your vicinity, why take loan offer form bank when you need them, you need to drive 20-40km.

B. Customer services, go with bank that offer tremendous value added service, try calling their hotline whether easily reached and are they responsive and helpful. In long term, this will lessen any unwanted hassle.

C. Semi or Full flexi that suits your criteria. SOmetimes, different banks semi and full flexi mechanism is different

D. Does the loan package has the right features that you need? Finance legal fees, semi/full/fixed/islamic loan ? lock in period or without? defaultment period ? loan account is it link to saving or current account?

E. Does the consultant serves you well?

etc all this that must put into consideration into long term perspectives instead of just interest rate. Effective interest rate right now is quite short term view.

cheers

Dear calintztan,

1. What industry are you in?

2. Can I look at your employment offer letter

3. Income should be good, but depending on how much loan you are getting

Cheers

Dear,

Doable



I have experience in dealing this, but need to teach you how to do it face to face, not here... hahah

Cheers


Cheers

Dear,

1. Top up fees include
- legal loan on the extra loan amount top up only
- valuation

Refinance
-legal spa (if changes owner)
-legal loan (full)
- valuation

2. There's few more factors into the calculation, whetehr the interest different big that causes massive saving in long term and etc

3. Example

RM50K outstanding loan
top up 50k
100k loan
same ownership


Refinance
-legal loan 4k
valuation RM400

Top up
- legal loan 2.5k
- valuation rm400

above is just example with figurative numbers and figure

4. to make the right decision, do let me know the actual loan amount, the interest rate you are currently paying for and your current loan outstanding amount

CHeers

Dear

1. Yes can be done

2. BUt still have to look at your doc and do ccris ctos checking first.

Cheers


Dear

Top up works this way

1. Your current loan outstanding with your existing bank is RM50K << example

2. your prop market value RM490K, loan 90% = RM441k

3. TOp up amount is

RM441K - RM50K= RM391K

Cheers

Dear,

1. what's your motive to refinance?

- To cash out more money?
- to change ownership?
- to get better interest rate?


I need to know the purpose before advising

2. For top up, as mentioned just now,



3. What's your current loan outstanding for each loan? so that I could tell you how much u can top up

4. Do stipulate your income and debts, so that I could calculate your DSR for max loan amount

-Gross income
-Allowance
-bonus

Debts
-Car
-personal loan
-credit card utilization last month
-asb
-ptptn

etc

Cheers

(Y) no problem

1st year starts on the first disbursement

2nd year on the 2nd

Cheers
call up customer service and asked what it is about, usually set up fees

Cheers

Dear

1. when u cash out, bank will calculate your eligibility of the cash out based on 10 years loan tenure

2. When you pay installment on the cash out, it iwll be according to your loan tenure, 35 or 30 or what ever it is stated in your letter offer



Cheers

Dear,

1. Reasonn to lengthen? to reduce installment payment? You can visit them and request them to reduce your installment, can try

2. Not cheap if you want lengthen, you have to pay legal loan fees which will surmount to 10k...

Cheers

Dear

Base rate + spread rate = Effective lending rate

Base rate will alter according to banks need from time to time, hence it will affect your EFL

Spread rate will be fixed throughout the loan tenure.

Hence, banker like to say lower spread rate will be better:

Example:

A) 4% + 0.5% = 4.5% effective lending rate
B) 4.1% + 0.4%=4.5% effective lending rate

Both ELR is the same, but the spread rate is different.



Hence in common perspective sense, people will chose the lower spread rate as it is fixed throughout loan tenure. Thus will say B is better.

But actual sense, there's no best solutions or answer for this. Because, lower spread rate doesn't secure the bank from increasing the base rate in the future and ELR is higher than A in the future.

It's very subjective:

1. Base rate is different across different banks.

2. When OPR adjusted by BNM, Base rate wouldn’t bulge.

Base rate would either stay neutral or increase, depends on bank owns decision. Base rate could even change without OPR altered.

3. SRR is the reserve requirement that bank needs to uphold, set by BNM. It’s a liquidity management. When BNM believes economy is prospering and lack of funds, it may reduce SRR requirement to keep less money as reserves in bank and have bank lend more fund out for economic activities. This lead to higher loan growth. The changes of Base rate can reflect the effectiveness of Government Monetary Policy.

4. Spread are defined according to the borrower risk profile, but spread rate are mainly fixed when display to public, as most of the borrower holds almost identical risk.

5. Base rate may be adjusted every 3 months, it’s following KLIBOR. Every 3 months we may or may not witness a changes in bank base rate, but it depends on the banks own internal decision. Hence it is subjective. 3 months stated are just an example usage.

Example:
Jan OCBC rate 4.02
April OCBC rate 3.92

6. Spread rate will not change and is fixed till the end of the loan tenure

7. even when base rate is superbly low, the effective lending rate in the end could be higher.

Example:

Maybank: Base rate 3.2% + Spread 1.5% =4.7%
OCBC: Base rate 4.02%+ Spread 0.5%=4.52%

It all boil's down on the spread given, hence do look at the effective lending rate instead!!! Shop around and ask your mortgage agent.

Base rate

Pro
a) Greater competition between banks
b) Higher transparency, as bank will display their profit margin and bank lending efficiency
c) Bank loan rate changes will have a higher correlation with Malaysia market economy and OPR.
d) Better indication in monetary policy changes.

Cons

a)Uncertainty. Rate may change accordingly to banks own internal desire.
b) There’s a bottom line for how low our loan rate can drop.

Example:
BLR 6.85
6.85-2.5%=4.35%
6.85-2.6%=4.25%
And so on
Base rate
3.2%+ 1.35%= 4.55%
3.2%+2%= 5.2%

BLR is negative in nature, it can go as low as the bank allows it to be.

Base rate is positive in nature, it has a benchmark bottom line. 3.2% is the bottom line and won’t go any further down."

For me, if the ELR is the same, spread rate different isn't differ by alot, I will chose according to few criteria as below:

A. Banks that are easily accessible to your vicinity, why take loan offer form bank when you need them, you need to drive 20-40km.

B. Customer services, go with bank that offer tremendous value added service, try calling their hotline whether easily reached and are they responsive and helpful. In long term, this will lessen any unwanted hassle.

C. Semi or Full flexi that suits your criteria. SOmetimes, different banks semi and full flexi mechanism is different

D. Does the loan package has the right features that you need? Finance legal fees, semi/full/fixed/islamic loan ? lock in period or without? defaultment period ? loan account is it link to saving or current account?

E. Does the consultant serves you well?

etc all this that must put into consideration into long term perspectives instead of just interest rate. Effective interest rate right now is quite short term view.


Cheers
Yes it will

However, if it's semi flexi loan account, you have to call the service center that you are gonna put this xxxx amount to reduce capital, else it will become advance payment.


Cheers


Dear

Extra payment

1. When you pay extra for monthly installment, which it will reduce your total interest charges.

Example:

2016
Housing loan Rm500,000 / 4.5% interest rate / 35 years loan tenure
Monthly installment is RM2,366 (Rm1,875 Interest + Rm491.28 Principal = Rm2,366)

As you can see, your installment payment are actually paying more towards your interest than your principal.


If you decided to start paying extra RM500 every month. Your Monthly payment will be RM2,866 (RM1,875 Interest +RM991.28 Principal = RM2,866)

You will be paying more towards your Principal with the extra RM500. Hence, if you continue paying extra RM500/month consistently.

Your total interest saved would be RM180,759
Your Loan tenure will be shorten by 136months.

-This will help reduce your interest charges and reduce the loan tenure.

Paying extra to Capital account/advanced account

2. If you have a sudden influx of cash into your pocket, lets say inheritance of RM100,000, and you decided to put it into your housing loan capital account/advanced account, because you have max out ASB and other financial options.

Example:

2016
- Housing loan Rm500,000 / 4.5% interest rate / 35 years loan tenure
Monthly installment is RM2,366 (Rm1,875 Interest + Rm491.28 Principal = Rm2,366)
Total interest charge: RM493,837.28

- If you credit in Rm100,000 into the account, housing loan outstanding would be RM400,000 (RM500,000 -RM100,000), and paying the same installment amount, this will reduce your total interest charge to Rm395,072.

Because the interest you are paying right now is 4.5% on Rm400,000 instead 4.5% on Rm500,000.

Hence, you save interest and reduce the loan tenure likewise.


Just use this calculator
https://www.drcalculator.com/mortgage/

RHB pull a david blaine hahahha.

Yup, it is not an actual full flexi.

just a hybrid gimmick

Cheers

4.1 4.2%.. it's a good rate..

if you are just into rate, that will be the best

e

wow.. mother of bug... how this jump to this thread section!

HAHAHA

Dear

1. You can used back ur previous lawyer, given that the lawyer is the panel of your housing loan bank

Cheers