MBSB rate is traditionally higher.

Please check Fire Insurance, normally it is payable annually unless your property is Condo.

would like to obtain construction loan to build house for own dwelling purpose.


brief info

the land is fully paid for (agriculture land, about 80 points)

will i be able to obtain construction loan for this? how much margins will i be able to get? what will be the interest rate?

will it be better if i use the land as collateral?

any sifus done this before?

Hi All Sifu ,
Can someone help to provide some guideline to choose for the housing loan?
Currently have 2 bank offer me .Information as below :
Loan Amount : 687,000

RHB- Fully Flexi
Rate : 4.05 % with MRTA
Years : 35 years

HLB- Semi Flexi
Rate : 3.9 % with MRTA
Years : 33 years

Can someone advise which one is better ? or maybe can someone answer me which bank actually more advantages for both
Others bank still pending to get approve.

Hi,

Usually agricultural land can’t take up loan for residential purpose. Based on what I know, agricultural land max margin 50%.

Hi,

Full flexi has the additional feature of withdrawing excess amount paid in installments. If you’re not going to use the feature of full flexi you can go with HLB since rate is lower(3.9 is damn good ready) with lesser tenure. Check if the MRTA can cover for whole loan tenure & whole loan amount.

hi i wan to ask about Maybank Commodity Murabahah Home Financing-i, I heard that the interest rate will be fixed although the BR decrease and it cant put extra money in principle acc for reduce interest rate.

I which to know tat pro and con compare with convential and islanmic bank loan?

anyway my offer getting is

1. MBB(islamic) 305k 3.97% 30 years
2. PBB 230K 4.15% 15 years

I will settle my loan early wont following the loan period.

This post has been edited by Jau: Feb 25 2020, 01:00 AM

I don't say the best banks, but if you are interested on low rates but tight T&C then Public Bank

Good paymaster
Work in big MNC

and you'll be fine.

No, you can't get financing to build a house if it's on agri land, only financing on the land itself unless it's a residential land.

HLB since the rate is lower.

Can't advise much since there is only 2 offer.

interest rate is never fixed unless it's AIA loan where you pay a much higher interest rate (4.99%)

No difference other than Islamic loan does not have lock in period and it comes with a ceiling rate, but you pay more for stamp duty for the shariah compliance documentation.

Agricultural Land, there is a limit of the size of the house you can build on the land. 20% of the land size of I am correct.

You can’t get construction loan if you wish to build a house on agricultural land.

However, you can refinance the agri land and uses the fund to build the house.

will the int rate be similar? if refinance the land? last check its 30% of the land size for house so it should be fine.

Hi, I'm trying to buy my first house and would like to see how much loan can I get?

Gross income: 4800
Commitment - maybank cc 10k limit
Car and personal loan - 840 monthly

Thanks in advance!

RM340k

337k

Different bank offers different rate, what I can tell is the rates the Bank I am working is offering.. 7.47% pa for land loan and payable in 15-20 years.

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This post has been edited by scriptkiddie44: Apr 16 2021, 06:30 PM

Thank you both! One quick question, does age affect anything? I read stories that you should buy before 30. I'm 27 now.

This post has been edited by fakerdemit: Feb 26 2020, 11:06 PM

Hi all.

Have a few queries here. Need some assistance pertaining to debt consolidation as follows:

Gross income: RM5,000

Car: RM800/month (O/S RM70,000)

Personal Loan: RM720/month (O/S RM55,000)

House: RM1,000/month (O/S RM200,000)

Market Value of my house: RM400,000

1. Which Bank offers debt consolidation + refinance property?

2. Consolidation financing rate of 4.2% considered okay?

3. What are the other things need to be checked in debt consolidation other than rate?

4. Instead of paying total instalments RM2,500/month is it better to consolidate all financinga into 1 instalment only let say RM1,700/month?

5. RM70,000 cashout can be stretched to 35 years?

6. What is the best way to spend the RM70,000 cashout? Go bid low cost flats?

Nees your wisdom and advices. Thanks all!

Rates are okay

Age will affect the duration of your loan, maximum 35 years or 70 years old whichever comes first.

1. depends on the facility and rates you're looking for.

2. Sure okay

3. Fees, withdrawal, prepayments, lock in period.

4. Sure if that helps your monthly cashflow

5. can, depends on your current age

6. whichever that can give you more than the interest rate charged by the bank, otherwise keep it in the bank as standby cash.

Actually pbb and mbb which hv better advantages in term of fees, hidden charges, late charges, interest rate decrease or increase and etc...

Hong Leong is pretty transparent with their fees too?

Hi all,

Can someone please advise on why the MRTT is so expensive for my housing loan?

CIMB
500k loan
38k MRTT

Due to your age and the duration of the coverage.