Now MCO, then need to wait 2 weeks lor. I thought as fast as hire purchase loan.

Hi all, need advice on loan offer as below:

1) Bank A
    - Loan amount: around RM610k
    - MRTA (10 years): RM5955
    - Semi flexi
    - Rate: 2.95% (BR 1.77% + 1.20%)
    - Tenure: 34 years

2) Bank B
    - Loan amount: around RM610k
    - MRTA (10 years): RM5280
    - Full flexi capped 70%
    - Rate: 2.9% (BR 2.63% + 0.27%)
    - Tenure: 33 years

Hi all Sifus
I’d received from two banks a draft LO for a RM 1.8mil HL, 30years and received quote of BR+0.23 to 0.28% (effective around 2.89%).

I’m thinking that I might be taken for a ride seeing some of the rates here, what should be a fair rate for a loan of this amount?

Thank you for your advice.

Do we need to buy fire insurance for house that still under contruction? My maybank banker said need to buy also for wor… anyone know ar? First time buy house

hi. I'm planing on getting a house. after doing some reading here, i learn that by taking flexi loan you can add  more money to reduce interest and get early settlement. but how to do it?

1. must it be a same amount every month ie +1000 every month or just add any extra money i have at that time.
2. dump large sum of money ie 100k in january, next year repeat same thing.
3. just dump ie 100k when buying house so i take less amount of loan from bank.

please enlighten me on good or bad of this options. ty

hi.
i want to buy subset n low cost apartment
this is consider my first house
i dnt have any comitment for now, my loan car 80k already did full settlement. can my loan get approved? if yes the agent will find the bank with low interest?
so if i want to apply the house loan the agent told me to bank in 3.15% and provide 6months payslip and ic. the amount can get refund if loan rejected. then she said if loan approved need to bank in another 7%. is it the correct procedure? should i ask for b&w agreement for the amount i pay or how?

i dnt really understand how the house loan works

Hi Sifus, Would like to compare the following for a 1.05M loan for 34 years:

MBB
BR+1.15=2.9%
MRTA 8k (550k for 15 years)
Semi flexi

RHB
BR+0.35=2.85%
MRTA 21k (550k for 15 years)
Full flexi

Given the same MRTA coverage, should I go for lesser MRTA premium (MBB) or go for lower interest rate but higher MRTA premium (RHB)?

Thanks a lot!

Sifus, need some inputs. Loan approved for 1.9m (RHB 31 years, CIMB 32 years) for the below 2 banks.

CIMB
BR + 0.35% = 3.1%
MRTA 30k (full loan for 15 years)
Full Flexi

RHB
BR + 0.4% = 2.9%
MRTA 42k (full loan for 31 years)
Full Flexi

I definitely will take RHB as monthly installment lower and tenure lesser. My current life insurance definitely not enough to cover the loan amount.

Initially the plan to buy the house with joint name, however, due to LTV, hence only single name with the loan. But then, the installment will be shared la.

Then, here come my headache on the Insurance part. Should I take MRTA or minimum MRTA + MLTA.

Option 1: MRTA full loan cover 31 years
Option 2: MRTA 50% cover 31 years + MLTA 50%.

Option 2, the monthly premium is about RM450 more. Which should I go for?

Any chance to get >70% margin for 3rd housing loan?

Hi, sifu. Wanna ask like wats the maximum amount i can expect for loan base on my criteria below? Thanks in advance
Age:32
Nett income: 6200
Commitment: 5k cc installment that ends at Oct 2021
Loan tenure: 35 years

And got 1 question regarding first time home buyer. If my dad use my name to apply joint loan with him before but the prop is not under my name and the loan is settled now, am i still consider first time home buyer? Possible to get 90%loan? Tq

Thx for the info. Good to hear that I thought my chance getting 90% loan is ruined :x
Just curious did u guys know that having high CL from cc will affect the approval rate? Currently having ~250k CL in total, the utilization limit is quite low tho ~1%.

anyone got panel lawyer for SC bank loan agreement?

oo so i misund this? I thought the scenario are like below
1) Loan amount = 500k
2) Put in 100k into flexi account
3) Only 70k out of 100k(70% cap) used to offset the interest

just wish to ask, is it still viable to refinance a own stay house now in view of the low interest ? my current house loan was in 2011...

due to covid.. my income are effected.. cant afford to pay monthly commitment

after house are complete.. what option i have ??? can share pls

dear forumer. i have a question regarding flexi loan

if i have 2k installment and i park money in  current acc same amount as my loan,  it will make me pay no interest right.  i understood that this 2k is principle +interest. since there is no interest and i still pay 2k, will my loan tenure shorten?

Guys I have a problem with my mortgage account. The above is email to a banker for query. But also sharing to get some help here.
I noticed since July 2017 till now 4 yrs d the mortgage only decrease 10k. Every month paid 1k 4 yrs should be at least 50k? Anything wrong w the account?

Sifus, does loan under construction covered for moratorium?

how does this work?
if loan still new & undercon stage can apply?

Is Hong Leong Assurance MLTA a good one? I’m paying 3600 yearly. Sum assured 650k. It’s an Investment linked policy btw.