Aster residency cheras
expected complete end 2021 or early 2022


Loan amount Rm 467,550.00

MRTT Rm 4456.00

Total loan amount is Rm 472,006

Interest rate 4.05%

Monthly instalment Rm 2,105.00

Tenure 35 years

Islamic loan-maybank

i will need to sign LO and SNP next week..

what are other details that i need to consider during signing..

im not well understanding regarding mortgage loan package...

thank you

Hi,

Check if you have enough amount of insurance coverage until the end of tenure and total loan amount. Better to have MRTT based on whole loan amount & tenure. Some only have either one. Check on default & late payment clause. This way you will know how much is being charged when you pay late or can’t pay. Other than that you’re good to go based on details given.

You can ask your banker to explain it to you

Some things you may like to find out:
1. lock in period
2. how prepayment works

Hi sifus, looking for some guidance.

S&P Price = 688,100 (after rebate 591,000)

Loan approved 584,885 (85% margin because banker said rebate detected. i don't mind though i guess i pay lower overall total amount of loan?)

Mrtt rm 24,054

Total loan rm 608,939

Interest 4.05% (flexi/variable. got bank offer fix nowadays?)

Installment RM 2,790

tenure 33 years

HLB Islamic.

Property scheduled to be completed Sep-2020.


Was thinking, am I getting a decent/good deal here?

This is going to be my first home.

This post has been edited by real_cranium: Feb 14 2020, 11:13 AM

Planning to look for first home, would like to know how much can i borrow

age 31
Gross income 9k
CC outstanding 1.5k

Many thanks

roughly 1.1mil

1.3m

Thanks Victor

Thank you Keith

Maybank MaxiHome Full Flexi

Hi all, want to enquire that for Maybank MaxiHome Flexi, I found that there is this benefit of:
"Earn interest of up to 1.85% pa for credit balances above RM5,000."

Does that mean if I deposit more than RM5,000 in my loan current account, which it reduces the principal interest, at the same time I'll be also earning interest in my current account?

It means as long as there are above RM5k in your current account available, you will enjoy up to 1.85% more interest compared to if you save it as FD

Bring offered

Loan amount of : RM450k
MRTA : RM19,110

For 35 yrs
Rate A @
Yr1: 3.85%
Yr2 onwards: 3.97%

Rate B
Flat : 3.9%

Both rates for flexi loan. Which will be a better deals?
Is it worth to pay MRTT or better to get insurance to cover that part?

Thanks

This post has been edited by kingdomdemon: Feb 17 2020, 09:22 AM

I will opt for the flat rate one. Does the 3.9% comes with compulsory MRTA?

Rate A should be Public bank...
Which bank is Rate B?
:-)

And confirm rate B is way better

This post has been edited by glennmaverick: Feb 17 2020, 10:30 AM

Yes, but you will need to maintain RM5k in the account

Rate B will be better.

better to get insurance to cover as it'll be cheaper

This seems like way too good no?
Say if your loan interest is 4% and you put anything more than 5k in your account, say 100k, you are earning 1.85% on top of the saving of 4% interest on loan. Meaning for that 100k, you are earning 5.85% interest. And this is risk free 😱

Got a question on MBB semi flexi loan.
For example I’m having standing instruction to pay 5k monthly for the loan, and I put in one lump sum of say 60k, the standing instruction will stop and deduct the 5k monthly from the 60k until it finished. If I want to still pay monthly of 5k on top of the 60k I put in, I have to transfer manually of the 5k. Is there anyway I can keep the standing instruction continue even if I put in extra money?

This post has been edited by lcp0407: Feb 17 2020, 01:13 PM

Ya thats why i am asking haha, sound too good to be true, if really that case I would use that account like my FD account somemore u are able to deposit and withdraw anytime u want which is a wow

There is a catch, read the word carefully - "Up to 1.85%" is not the same as saying "give you 1.85%".

At the moment your FD period 1 month how many percent? FD 1 year how many percent?

Hi, any mortgage banker can help me on this?

Background
1) Commercial property, should be valued around RM1m
2) Due to special circumstance, I'm buying at RM400k.
3) I would like to obtain maximum loan amount


Spoke to bankers and understand that they are only able to give 85% loan on SPA price, which is RM400k. Then, after few months of good payment record, apply for topup loan (which will be higher interest).

Instead of doing the above, can I just pay cash outright, and then once title is transferred to myself, I go to bank and charge the fully paid property to obtain 85% loan on market value, which is RM1 million?


Any sifu can enlighten?