QUOTE(ngph988 @ Apr 21 2018, 05:23 PM)
Conventional way is to save up 10% down payment. If you're first home buyer, you may withdraw the down payment from your EPF account 2 by presenting the stamped SNP and stamped loan agreement/offer letter to KWSP. They will take about 7-14 working days to reimburse.
Do you have ASB loan on hand? Cause the simulation I have given was no any monthly commitment from banking facilities.
Yes I would like to save up to 10% conventionally as well. Since I’m from Sabah, the living expenses here is rather high and rental also kinda at the high side.
Thanks for the reminder for EPF2 account but I just working for about a year since graduate.
Both of us don’t have any ASB loan on hand. Can you do me a favour to see how much can we loan if we take up the asb loan for downpayment? Much much appreciated.
QUOTE(lifebalance @ Apr 21 2018, 08:17 PM)
Well you can but taking an Asb loan would mean it'll be part of your current commitment. Which means your housing loan may need to loan lesser.
However if you need that Asb loan for the Downpayment, I would say that you're taking in a lot of commitment for yourself just to buy a house.
I'd rather you save up enough for the Downpayment with your own money rather than taking a loan for Downpayment and take another home loan for it.
However if you insist on the idea above then you may try to take up a Asb loan for the Downpayment purpose. But I'll need to recalculate your amount that you can loan once you take out the asb.
So sorry and I know this is not the best solution. But for me, I would choose this path is because don’t want to continue to pay the house rental that cost me 2k per month..
Can you do me a favour to help me calculate if I take up the ASB loan for down payment?
And just wondering how much deviation of interest rate for ASB loan and home loan?
Thank you so much for your kindness.