you can ask your banker to send you the copy of letter offer to have a look. Normally setup fees charge after you accept the loan offer.

base on your info is very limited, so i assume that loan tenure is 35 years and both of you do not have any commitment,

1.5mil x 90%= 1.35mil
monthly installment around 5820

so income must be around RM 10k.

This post has been edited by Pac Lease: Mar 11 2020, 08:40 PM

Erm...
If a project still under development, the mortgage bank can go with is only the panel bankers?

Project name is Space Residence in Johor by Linbaq.

Better to go with panel banks as they have all the project details.

Hi guys! I received below offers:

1) Maybank
- Amount: 705k
- Tenure: 35years
- Rate: 3.85%
- with MRTT

2) HLB
- Amount: 720k
- Tenure: 33years
- Rate: 3.7%
- with MRTT

3) CIMB
- Amount: 684k
- Tenure: 35years
- Rate: 4.2%
- with MLTT

Which of the options above is good? All offers are 90%.

Is Maybank's Commodity Murabahah Home Financing-i a semi- or full-flexi loan? Thank you!

Anyone recently apply bsn youth home 100loan, can share the experience?

I recently come across a project where bank only approve 70~75% loan on spa price because the project has 15% is this common these days or should I continue to shop for some other project?

I will go for HLB if the capped interest is above 70%.

Some banks would have done that but not all, if you like the project and can afford it why not? So it's depends on you

Typically if we refinance from one bank to another bank.. what is the estimated cost of such refinance? Anyone got any idea? Tq

HLB appears attractive. You will be paying instalment approximately RM3,151 per month, about RM100 more than Maybank, but for lesser years and higher loan amount.

This post has been edited by Cyclopes: Mar 15 2020, 05:16 AM

Any did refinancing recently? How to take advantage of lower interest rate? When or when not to switch lending bank?

Thanks.

Hi,

Cost is roughly 2.5% from the loan amount.
Legal fee and valuation fees are involved.
Another cost would be the home loan insurance which will depend on the tenure, your age and loan amount.

Hi,

If your rate right now after OPR reduction is more than 4.5% than it’s good to refinance as you can get a lower rate. Even when OPR goes back up, you can enjoy lower rate still.
Another way is, fixed rate loans are lower now. AIA offer fixed rate loans with zero moving costs at 4.75. Higher compared to bank but this is lowest and only fixed rate flexi loan in market.

Hi

This usually happens because developer gives cashback option to customers. Banks see this as a risk and they cut down financing margin so that the margin after cut down will be equivalent to the price without the cashback. Most developer do this. If it’s within your payable means then do it.

HLB if you don't mind the 70% capping on prepayment.

not common, the max margin is 85% - 90% depending if you buy project or subsale and also the type of property involved.

about 2.5% of the loan amount. estimated

depends on how much is your current interest, if the difference is 0.5% then it's a good time to make a switch to save on the long term bank interest.

Wow... so does that mean if i refinance to lower loan amount... i can save on the refinance fee?

Thanks!

Refinance fees will be involve such as legal fees， valuation fees and setup fees.those fees will be impose if you decide to accept the loan offer.

Valuation fees charge based on ur house market value.
Example, house value at 1mil, valuation fees is around 4K.

Legal fees charge based on ur total loan amount. Example loan amount of 400k, loan agreement fees is around 10k.high loan amount, high legal fees u need to pay.

in short, even ur house value at 1mil, no matter what is the loan amount that u apply, valuation fees still based on value to charge, whereby loan agreement is based on loan amount.

yeap

Thank you... very useful info!

Thanks for the replies guys!

I received another offer from HSBC:
- Amount: 608k
- Tenure: 32years
- Rate: 3.7%
- with TRTC (RM130/month)

From my inexperienced calculations, the advantages compared to other offers:

1) the least monthly instalment: RM2.7k
2) less loan amount and tenure, hence less interest and loan finish faster
3) instead of lump sum MRTT, HSBC replaced it with TRTC. Similar to insurance with monthly premiums paid separately from monthly instalments to HSBC

Disadvantages:
1) Full-flexi. Addtional RM10 charge per month
2) Only 80% loan. So I need to fork out some of my EPF acc.2 to cover the downpayment
3) No cash for renovation when VP, unless I take out all of my EPF acc.2

Anyone has experience with HSBC? Care to share your experience? Thanks!

This post has been edited by fruxano: Mar 20 2020, 08:22 AM

1) I'm taking full flexi loan as well and personally I don't mind about the additional charge since I manage to have flexible deposit and withdrawal to the account.
2) & 3 ) If you're feeling burden about it, would suggest to consider loan offer from another bank.

May try apply SCB as well which I'm currently taking it's loan last year, with 3.7%, extra rm10 maintenance fee, 70% capped interest, no MRTA/MLTA required and no lock in period.

[quote=fruxano,Mar 20 2020, 07:50 AM]



Thanks for the replies guys!

I received another offer from HSBC:
- Amount: 608k
- Tenure: 32years
- Rate: 3.7%
- with TRTC (RM130/month)

From my inexperienced calculations, the advantages compared to other offers:

1) the least monthly instalment: RM2.7k
2) less loan amount and tenure, hence less interest and loan finish faster
3) instead of lump sum MRTT, HSBC replaced it with TRTC. Similar to insurance with monthly premiums paid separately from monthly instalments to HSBC

Disadvantages:
1) Full-flexi. Addtional RM10 charge per month
2) Only 80% loan. So I need to fork out some of my EPF acc.2 to cover the downpayment
3) No cash for renovation when VP, unless I take out all of my EPF acc.2

Anyone has experience with HSBC? Care to share your experience? Thanks!

[/quot

Monthly repayment will still be RM2,700 +-, for if it's reduced amount of RM608k, instead of RM720K from HLB.
Choose that which gives you better cash flow management.
TRTC is reducing balance, and will only pay for the outstanding house loan, unlike MLTA where you get a full sum assured.

This post has been edited by Cyclopes: Mar 20 2020, 11:51 AM