I heard from others that I can choose the duration of the coverage. But I was not given the option.

This is too expensive, so this is the reason ppl looking for other bank?

You can normally reduce the tenure but not recommended as the coverage will drop very fast, the alternative is MLTA which is cheaper over the long term.

Will need ur age, gender, loan amount to let you know what's the market rate.

34
Male
500k

Hi All,

A banker of my agent contacted me to request the following documents. He said he will do a pre-analysis check for me about the lowest interest rate I could apply. But as of now I haven't decided which property I'm going to buy. Should I disclosure these document to the bank? Thank you.

Document needed as below :

*Salary earner*
- ic
- latest 3 mth bank statement
- latest 3 mth salaryslip
- epf
- ea form
- income tax with payment receipt
- booking form
- Vendor SPA & Title

If commission/variable income pls provide 6 mth salaryslip & bank statement

Hi, i'm planning to do joint loan for first house with my wife. How much we can loan?
My gross income = 5800
My wife Gross income = 2450
committment CC maybank = 7k limit clear outstanding each month

This post has been edited by sazznyx: Mar 2 2020, 09:49 AM

about 125 monthly

You can mention to them your personal detail if you want, otherwise you can share it in here as well on the info below for me to check for you.

Age
Gross pay
Nett pay
Rental income
Asb
Bonus 2016 2017 2018

Commitment
House
Car
Personal loan
Credit card outstanding
Ptptn

1.1 mil

https://www.worldofbuzz.com/housing-ministr...lopers-in-msia/



sharing the list so we all can be wary of dodgy developers

this tiger energy company sounds familiar..

this tiger synergy company is actually involved in a shady business where the chairman elected all his family members as directors of the company, and then once the company is public and land deals are being drafted, they songlap all the money into BOD's personal account.. can read more here:

https://thecoverage.my/news/91-of-sharehold...bnail_id=127601

is normal to ask borrower to provide the document as above to calculate the eligibility of the loan application.

pbb 3.9 500k 35 years loan

mrta 18k for 25 years , insure 300k per person + 50k per person CI

vs

mbb 4.0 500k 35 yeasr loan

mrta 19k for 25 years insured 500k

which is better?

MRTA covers death and TPD, claimable upon death or TPD.
CI is claimable upon critical illness.

As for rate, 3.90% is significantly lower hence more preferred.

The question will be would how your MRTA is covered. PBB offers RM300K each, how about MBb?

MBB insurs full loan.


by the way,

is it better to loan 70% or 90% and then deposit 20% in later? both eventually should be 70%.

we are buying under con property and la and stamp duty will be borne by developer

It's advisable to take a full tenure otherwise defeats the purpose of the MRTA.

If budget allows, get MLTA to save long term cost.

It'll be the same, the matter is are you willing to pay a higher installment ? if there is no issue on that then get 70% loan if you want to pay off your loan faster.

RM300K is each... for PBB.

RM500K is each or only 1 person ?

If loan, Banks dont care whether 70% or 90% when come to default. Default is default.

It will come to affordability and stress, if you can afford to pay then it is ok. Some cant handle the stress knowing you have a huge loan and it will lingers in your mind.

Of course you can apply 90% and dump $$$ into your loan later if it is semi flexi.

500k is both

Of course you can apply 90% and dump $$$ into your loan later if it is semi flexi.

with regards to the above, loan 70 % compare to 90% + dump in later to make it 70% , it is the same right? if do the later, any additional charge incur?

Semi Flexi allows you to withdraw the cash back. Take back will incur charges.

Does BNM rate cut means applicants are now able to loan more money? Since the rates are lower and installment per month is lower for the same amount of money loaned.

Yes, you're right.

No wonder my home loan this month is so much cheaper. Do you know where can I check the updated base rate for each bank?