Hello sifus, what is considered a good salary range to own a RM600k+ property?
Considering monthly debt (credit card and student loan) = RM500 max and no other commitment.

With Fed hiking the rate to another 75 points, expect whatever interest rates u got and factor in another 0.75% Probably it'll be safe to ballpark it there around.

I have questions.

My house loan is with OCBC.

I paid extra every month. example : my monthly repayment is RM 1.2k , but I paid Rm 1.5k

because i made auto payment every month so I dont care about it. even during MCO ... 2 years, I think that time monthly repayment is less than Rm 1k but i still paying RM 1.5 k every month.

Now my loan left RM 10 k only,  If i settle my loan, will it be extra money that the bank need to pay back to me? since I pay extra every month.

OCBC call center at the moment still busy and no once handle my call.

Just wanted to know how bank loan works generally as I aware it will be depends on bank and case to case basis.

tqtq

Because last time bank told me is consider advance payment. Use to deduct the interest, not the capital.

Hello. I need some clarifications on this.

Property Price: RM240,000
Down Payment: RM24,000
Loan Period: 30 Years
Interest Rate: 4.25% (Can't remember) - In 2010

Year 13th
Principal: RM61,834.03
Interest: RM103,930.04
Balance: RM154,165.97

(From calculator.com.my)

Monthly repayment: RM1062
Current payment per month: RM1300

If I increase my payment to RM2600 per month, how much can I save on the interest?

Expected to finish paying within 5 years? Need sifu's advice. Thanks.

Dear all, would like to seek your advice on below matter:
My parents are looking to acquire a new launch project schedule to complete by 2026.
Currently my parents would like to pay the progressive stages using cash, and may take up a loan halfway through the progressive stages.
I have checked with my banker from other project and he advisde agaist this, he advised us to take up loan now and make early payment when have extra cash for better cash flow.
The banker also suggested that once the end financing has been utilized fully for a project then we can not go for a loan by then.
However, I have checked with the new launch project SA and he mentions that for bigger developer it wont be the case as they have more panel banks and will not be utilized fully.

So my questions are:
1) Should we go ahead with cash progressive payment and only decide to secure a loan halway through the stages(eg 50%)?
2) Will there be any diffculties or caveats to securing a loan when we have made a total progressive payment of say 50% at 1.5  or 2 years later depending on the progress.

Thank you.

Has anyone experience this kind of situation..

I sign the loan agreement before MCO. back then my loan agreement rate is around 4.2%.
Then covid and MCO happen and as we remember the OPR drop. However, my monthly instalment remain the same. After MCO the OPR was then increase back. And so did my monthly instalment.

So I'm confuse, if the OPR drop, shouldn't my loan rate drop as well then increase? But it seems when the OPR drop my instalment remain the same, but when OPR increased my instalment also increased?

Hi all, I'm self employed and applied for a home loan for under construction residential project. Maybank wanted proof of savings of 10% of property price, and they wanted me to fully settle my income tax for YA 2022 when the deadline is not due yet. Due to developer's 10% rebate, there no down payment is required.

Estimated DSR if loan approved with all existing commitment is about 40%, and CTOS credit score is ok no late payments.

Just wondering if all the banks are all this strict and I should just delay home purchase.

Hi all, I did a general search on this topic but didn't see anything pops up. I want to find out how to calculate how many more years it will take for me to settle my home mortgage loan. I have dumped in some advance payment several years ago (in hopes that it will reduce the principal). I remember there was an increase in BLR a few years ago which of course increased my monthly payment but ever since then regardless any reduced BLR I have maintained that same monthly payment.

Does anyone know the formula to calculate this? I don't think that online calculator will help as most doesn't take into consideration additional payment or change in interest rate (at the least the ones that I have googled). If anyone knows of an online calculator that includes this, do share. Thanking you in advance.

I went to the bank once for help but the officer kept saying the loan tenure will end when I completed all my loan payment (duh!) and was reluctant to assist further.

Hi guys,
Quick question, as loan rate are based on loan amount as well.  Pretty sure u guys know rate for loan 300k below is well higher compare to above..
I need to bought a house for 380k and only 70% loan is allowed which only offered me 266k which leads me to a rate of 4.4% PA. 
So my question is can i top up the house value to like 430k which allow me to loan 300k to qualify lower rate (unsure but definitely better than 4.4%). Then once the money is disburse, i use the extra amount (430k - 380k=50k) to settle the loan directly so i can enjoy lower rate but my principle balance also left 250k already.
Is this a wrong doing ? (legally)

Hi all, I have a question regarding our 2 x 90% loan quota. Is it possible for us to defer our second 90% quota to 3rd property? This mean on 2nd property I'll only apply for 70% loan.

The reason is that I plan for my first 2 property as rental oriented high rise property which is lower in price. Then for 3rd should be own stay landed property which most likely be over a million. If I can defer the quota to 3rd property then it gave me more flexibilty on my own stay property since I only need 10% downpayment and the DSR from my first 2 property is lower.

Hi, do you recall what time exactly will they auto-debit from the savings account? My due is today but still no auto-debit. Thanks

Hi guys , Let's say i have a 600k property loan at 4.85% interest rate.
I heard from tiktok those gurus stating that the first 10 years we actually pay a lot of interest.

let's say i have a 10k extra, and i i put inside this semi flexi loan to reduce loan capital.
that will reduce the interest i pay correct ?

and after 10 years, i take out this 10k , my loan principal will go up by 10k again, does that mean
i will never save anything?
sorry, im quite bad at these type of calculatiion

Want to ask for opinion
Currently trying to buy house 250k
I tried to apply loan. One bank told me options for the loan:
1) 90% loan with 4% interest
2) 100% loan with 4.1% interest

Which one should is more recommended to take? I am thinking to fork out the downpayment from my epf.

Thanks

hi sifu,
recently aiming for my 2nd property with spa price of 1 mill.
got kinda good rate of 3.85% from MBB with selection either Mrta or Clta.
Im looking for CLTA since my previous 1st property was on MLTA and i guess it is safer to assure my family has less headache on the loan repayment in case im gone.
However, is it a trend now to combine the amount of clta into my housing loan as well ?
im thinking if the clta cost 60K .. might as well ended with repayment of 120 K (addon with the housing interest bla bla bla)
is it worth it by combining the insurance into the housing loan or this is the new process nowadays
Thanks

Thanks for the highlight...
the concern i have is like ....
- I buy CLTA and combine my principal of spa 1mill + 60K insurance = total will be 1mill 60K. With the housing interest of 3.85%, roughly by end of the tenure, i should be paying around 2 mill 120 k ? (usually double right ?)
- Is this still applicable like im buying with housing loan of spa 1 mill 3.85%, at the same time, i am paying separately rm xxx monthly for my insurance so at the end of my tenure, im paying around 2 mill with 60 K (as independent insurance charges ?) As this is similar to my current purchase where i had my 1st house housing loan with Bank A and separate monthly insurance payment MLTA and chargeable from my credit card.
So what is about "making early repayments into your housing loan to reduce the interest." ?
Should it be...... instead of reducing the interest, but adding up more interest as im combining my CLTA insurance to the total loan amount ?
Im a bit confuse with this 



hi !@#$%^ .... was told that MBB has the lowest / better rates in market while i was still thinking if i can get 3.8 %.
It looks something like Base rate 3% + the rates for each bank (MBB is 0.85%) .... so total will be 3.85%

For context, I just signed offer letter for 820k. So I spent yesterday shopping around at the following banks (in chronological order):-

OCBC - 3.85% without MRTA/MLTA, 3.8% with MRTA/MLTA minimal amount. After further discussion with Loan Officer, the minimal amount is 15k.

Maybank - 3.85% with MRTA/MLTA (10k amount)

Public bank - 3.95% (can choose MRTA/MLTA or not) but they will request from HQ to bring down to 3.85% to match what other FI offering (this is direct quote from the lady who was advising me). In that case require MRTA/MLTA.

RHB - 3.9%, can try to push for 3.85%. Seems like required MRTA/MLTA but this wasn't confirmed.

Besides that through other contacts I spoke with the following banks:-

HLB - Directly said 3.85% can, with MRTA/MLTA minimal amount 10k

UOB - 3.85% with MRTA/MLTA

None of them have fixed mortgage (I asked), all are 'semi flexi' and discouraged me from full flexi since I'm wage earner. But the 'semi flexi' they described, based on my further questions, if you prepay a large amount more than your monthly instalment, interest will be counted against the total amount still owed. Which means... effectively same like full flexi (in terms of offset). What RHB/MBB agents explained to me was that full flexi has no charge to withdraw the amount, but has monthly current account charge. But semi-flexi has a charge (RM25, RM50, something like that depending on bank) to withdraw, no monthly current account charge.

After doing the above survey, I also tried to do so maths - assuming 738k loan amount (90% of 820k) and 30 year period (I'm not young), if I take the best offer above (OCBC 3.8% with 15k insurance) the total loaned amount would be 753k and the instalments would be 3510 a month. But if I take a 3.85% rate with no insurance, instalments would be 3460 a month. So purely on a cashflow basis 3.85% is 'better' (of course then its not insured in case something happen to me)?

Counting another way, even the 'minimal' insurance requested by the bank effectively 'costs' the same as a 0.1% increase in rate? So in order for it to be 'worth it' the MRTA/MLTA should bring the loan rate down by 1% (for parity).

Any other banks which may be able to beat the above offers? I've already submitted applications to four of the above.

If I take 738k loan with 3.85% rate - my repayment is RM3460 a month.

If I take 738k loan + 15k MRTA/MLTA (the minimum according to OCBC) and then 3.80% rate - my repayment is RM3510 a month.

Basically it seems that the MRTA/MLTA is 'worth' 0.1% rate increase (i.e. the monthly repayment for my loan with MRTA/MLTA is the same as it would be for a 3.9% loan without MRTA/MLTA).

And even though the MRTA/MLTA can be cancelled early (let's say in 5 years) which the agent mentioned, the amount was still borrowed and so I've still paid significant interest on that 15k amount within that 5 years.

I have a 550k mortagage loan with 4.35% interest from 10 years ago. I'm parking 450k into loan and somehow the installment shown changed to 1.3k instead of original 2.7k.

My question is, does bank revise our installment value automatically if there's additional money parked in loan? So when withdraw that additional money, it will revert to original installment?

can I write to my existing bank and request for lowering the mortgage rate from 4.3% to 3.9% ? will they entertain ?

is there a fast and easy way to refinancing, like whatsapp ?

Hi all would like your advice:

i have 2 same offer from HLBB and MBB,

90% loan
35 years
3.85% rate
MLTT 15 years
Full Flexi,

between the 2 which one would you choose if all are the same. and any reason why. My first and main bank acc opened was Maybank and been using it until now. never used any service from HLBB before.