Thank you for the repply, do you know what are the documents required from foreigner to apply mortgage in Malaysia Bank ? And which banks in Malaysia give mortgage to foreign customer?
I've been googling it but I can't find muçh reference.

I am looking for loan to purchase my first house for own stay, but I don't know why all the interest rate are the same -> https://www.imoney.my/home-loan

Why some BR + 0.46, some BR + 0.78 but end up total interest rate same?!!! Then which one is better? +0.46 or + 0.78?


My property was about RM 737,000. I am looking to borrow loan RM700,000 with tenure 30 years. I prefer flexi loan, as I have some extra cash to "park". Age 35. Full time employee in MNC.
My annual income about RM96k gross. I have no other commitment as I finish pay up everything(car,credit card etc).

Questions:
1) Am I eligible to apply the above loan amount?
2) Which two banks suited me best currently?
3) And the their lowest interest rate are?
4) MLTA or MRTA?

Hi all, below is my financial details

Gross earning per month : 4k
Guarantor for a car,monthly : 800
have credit cards with mbb
No mortgage loan at all

Question : how much of loan (35Years) am i eligible for? please gimme the conservative and optimistic loan amount.

Thank you so much for enlightening me

public bank told me if apply home loan without mrta, interest rate lowest will b 4.60.. is it true? Worth to buy mrta with 3.5k for 5 yrs to get lower interest rate? she cant guarantee how much lower the rate for buying mrta..

Indeed shorter loan would be lesser the interest you pay off.

Let say : E.g 500k prop with 10% d/p (50k) - BR 4.6 %
you need to pay around
2.1k+ per month for 35 yrs
2.5K+ per month for 25 yrs

It will like saves you around 150k+ interest$ itself which flexi haven't apply in this sample yet.

It depending on bank, but in most cases, MLTA is better (but expensive) then MRTA in term of insurance, and secure yourself.


MRTA (is protection) will have reducing cash value and drop to 0 when end of tenure
while
MLTA (is protection+ cash value) fixed cash value thought-out the loan tenure


Actually you ask me worth buying, I would say it;s necessary when it come to protect/secure you and your family, unless you buying for investment purpose.

HI there bro, the interest rate would be your second concern since you choosing flexi plan, so you would need to Choose which bank have Full Flexi plan first and then only compare the rate and details.

And btw, according to your scenario, you only can borrow up to 660k+ instead of 700k

This post has been edited by WilliamSun: Jul 16 2015, 02:51 AM

Suggested prop value will be estimate around 350++k~450++k provided you have repayment ability of 1.5~1.8k per month.

Hi wanna ask my situation:

1) bought bumi quota unit
2) i am non bumi
3) leasehold
4) master title

Normally this case will take longer time for name transfer.. My question is when do i need to start paying bank loan? After sucessful name transfer which means few months to few years time? Or before that?

You have to start the loan servicing when your loan has already been disbursed.

Depends with loan amount normally if profile grading is good banker can always request for lower rate.

Just for your info, the cost of mrta will always be higher than the saving from the lower interest rate.
It is wort to buy MRTA, that really depends on your age, financial situation and your family needs. If you already have enough insurance, then there is no need, if you are the sole bread winner in the house and this is your first house... then you might consider or even extend the coverage to 2/3 of the loan tenure.

So when will the loan disbursed? After name transfer or before?

I see. So if I go for full flexi loan(And as a start, lets say I "park" about RM10k in that account), and my monthly installment is RM3500, do I have the flexibility to pay for like the below?

This month - RM3700
Next Month - RM2300
Third Month - RM4500
Fourth Month - RM900
Fifth Month - RM0
Sixth Month - RM 7000
and etc etc........



Besides that, ny admin fees, processing fees, etc every month charge by bank?

This post has been edited by Neo Light: Jul 16 2015, 04:40 PM

In most case, disbursement occurred only after lawyer side settle everything, doc etc & confirmed with bank.

Hi bro,
maybe you may refer to this for better understand :

http://jkfund.blogspot.com/2014/10/cimb-ho...using-loan.html

I found it very useful and easy to understand how full flexi works

and there are three scenarios shown :
(1) You place RM 50,000 into the current account
(2) You place RM 100,000 into the current account
(2) You place RM 150,000 into the current account



This post has been edited by WilliamSun: Jul 17 2015, 02:06 AM

Not all bank full flexi work this way, at least I know uob is not calculating this way, uob will fix the principal and interest as initial then whatever amount in your bank account credit back the interest. Which is even better because it will compound the interest in your current account.

Any Ocbc Banker here? Please pm me. Wish to submit a loan. Tqvm

I have 3 questions.

Q1.
can someone do a simulation for me on the loan servicing thing?
like how much i need to pay to service the loan until VP?
eg, the house price is 400k. loan 360k, 4.45%, 35 years, semi-flexi. assuming i know that i need to start servicing the loan wef jan2016. how does the calculation goes?
there's a standard table of the % like 10%, 10%, 15%, 10%, 10%, 10%, 5%, 5%, 5%, 12.5%, 2.5%, 5% right?



Q2.
say for example i take the loan of 360k, 4.45%, 35 years, semi-flexi from UOB. my monthly instalment is approx. RM1693. If let's say I pay RM2000 a month for the instalment, where does the extra RM307 does? To reduce the principal or to service the interest? any simulation?

Q3.
I understand that i can request the bank to say that I want to start paying my instalment BEFORE VP. is it a good choice? according the bank agent, i can do so when the bank had disbursed around 50% of the money to the developer. this way, i can start to pay instalment instead service the interest (it would paying like, double interest right?). but i dont know if it's a wise choice?

This post has been edited by diners: Jul 18 2015, 10:53 AM

Hi there,

I am Malaysia living in UK. Is it possible of me to get a housing loan in Malaysia please? I earn a good wage here and am looking for 90% loan for a property worth RM600k. Please advise.

Thanks