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> Mortgage Loan Package Inquiries, (Strictly NO Promotion Allowed)

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fankykwong
post Jun 18 2021, 06:40 PM

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Hi all, I'm purchasing my 1st house, its a subsale unit.

RHB Bank Full Flexi
Loan: RM754,000
MRTA: RM16,800 cover loan amount RM377,200
Interest rate: 3.3%

Do you guys think 3.3% is a good rate for this loan amount? and currently worth to buy subsale unit? since HOC extended till year end.
KamisF
post Jun 18 2021, 07:04 PM

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QUOTE(fankykwong @ Jun 18 2021, 06:40 PM)
Hi all, I'm purchasing my 1st house, its a subsale unit.

RHB Bank Full Flexi
Loan: RM754,000
MRTA: RM16,800 cover loan amount RM377,200
Interest rate: 3.3%

Do you guys think 3.3% is a good rate for this loan amount? and currently worth to buy subsale unit? since HOC extended till year end.
*
can try ask banker for lower rate, i ask my banker, got reduce from 3.2 to 3.15, 0.05 only but still better rate! 😅
ngph988
post Jun 18 2021, 07:24 PM

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QUOTE(firewir3 @ Jun 18 2021, 04:01 PM)
Thank you all for the advice sorry for the confusion some correction here as below

UOB : RM20,014.00 for MRTA 20years + 2 years = 22years (the mortgage advisor advise me to insured full amount for the first 2 years as the property is still in building progress not sure is this necessary?

Hong Leong : RM13,297.00 is MRTT : 20years since its under takaful normally will it cheaper?
*
Well, my suggestion is go for HLB since lower MRTA amount, the balance you may cover from your personal life insurance (if you have any)

QUOTE(fankykwong @ Jun 18 2021, 06:40 PM)
Hi all, I'm purchasing my 1st house, its a subsale unit.

RHB Bank Full Flexi
Loan: RM754,000
MRTA: RM16,800 cover loan amount RM377,200
Interest rate: 3.3%

Do you guys think 3.3% is a good rate for this loan amount? and currently worth to buy subsale unit? since HOC extended till year end.
*
I understand RHB is running for promo rate (should be around 3.15%), but 3.3% seems abit high, maybe can ask for appeal or get from other bank loan for better rate
lifebalance
post Jun 18 2021, 08:30 PM

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QUOTE(firewir3 @ Jun 18 2021, 04:01 PM)
Thank you all for the advice sorry for the confusion some correction here as below

UOB : RM20,014.00 for MRTA 20years + 2 years = 22years (the mortgage advisor advise me to insured full amount for the first 2 years as the property is still in building progress not sure is this necessary?

Hong Leong : RM13,297.00 is MRTT : 20years since its under takaful normally will it cheaper?
*
Either one is fine

QUOTE(fankykwong @ Jun 18 2021, 06:40 PM)
Hi all, I'm purchasing my 1st house, its a subsale unit.

RHB Bank Full Flexi
Loan: RM754,000
MRTA: RM16,800 cover loan amount RM377,200
Interest rate: 3.3%

Do you guys think 3.3% is a good rate for this loan amount? and currently worth to buy subsale unit? since HOC extended till year end.
*
Can request for lower
thebuyer P
post Jun 18 2021, 11:31 PM

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QUOTE(ngph988 @ Jun 15 2021, 01:41 AM)
Well,

First of all, different banks will have different policies from income calculation perspective, scorings and other policies.

May I know your financial background before I can conclude your loan eligibility, which bank has the highest chance to approve the loan and whats the best rate from the respective banks.

Age of respective borrower
Single name/Joint name (please indicate the number of borrower)

Salaried Employee
- Basic Salary in local currency
- Fixed Allowances
- Variable Allowances/Others
- Bonuses

Commission Earner
- Average 6 months commissions
- Income Tax Declaration for 2 years + Receipt of tax payment

Monthly commitment
- Housing loan
- Hire Purchase
- Personal Loan
- Credit card
- Other term loans
- PTPTN loan

Supporting document (optional)
- rental income, savings, FD, shares, dividends and etc

Property details
- Undercon/Subssale/Refinance
- Property Address
- Purchase price/Open Market Value
- Type of property (landed/condo/etc)
- Land size
- Built up (Applicable to high rise/Semi D/Bungalow)
- Any renovation and estimated costs

Since one of borrower is working in overseas, may I have the following info?
- Employment period in current overseas company
- Position holding in current company
- Nature of business of the company
- Any employment letter/confirmation letter from current company
- Where's the current location of company
Well, need some info before I can give you a thorough explanation derived from your income perspective. Usually i will calculate the DSR around 60-70% depending on income ranges.

The loan calculator from property website is merely a reference thus it may vary.

Age
Single name/Joint name (please indicate the number of borrower)

Salaried Employee
- Basic Salary
- Fixed Allowances
- Variable Allowances/Others
- Bonuses

Commission Earner
- Average 6 months commissions
- Income Tax Declaration for 2 years + Receipt of tax payment

Self employed
- Year of establishment
- Nature of Business
- Type of company setup (Sole prop, partnerships, Sdn Bhd, LLP)
- Average 6 months credited amount in company bank statement
- 2 years income tax declaration + proof of payment

Monthly commitment
- Housing loan
- Hire Purchase
- Personal Loan
- Credit card
- Other term loans
- PTPTN loan

Supporting document (optional)
- rental income, savings, FD, shares, dividends and etc

Property details
- Undercon/Subssale/Refinance
- Property Address
- Purchase price/Open Market Value
- Type of property (landed/condo/etc)
- Land size
- Built up (Applicable to high rise/Semi D/Bungalow)
- Any renovation and estimated costs
*
- Both of us are 25y/o, already placed a booking fee for a subsale unit priced at RM490k
- Single borrowing for RHB, but must do joint loan for HLB
- Spouse RM8k nett, me RM3.7k nett
- ASB loan, credit card limit RM10k monthly. We always pay on time
- High rise condo

Thank you sifus.

lifebalance
post Jun 18 2021, 11:33 PM

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QUOTE(thebuyer @ Jun 18 2021, 11:31 PM)
- Both of us are 25y/o, already placed a booking fee for a subsale unit priced at RM490k
- Single borrowing for RHB, but must do joint loan for HLB
- Spouse RM8k nett, me RM3.7k nett
- ASB loan, credit card limit RM10k monthly. We always pay on time
- High rise condo

Thank you sifus.
*
Looks fine to me
ngph988
post Jun 19 2021, 11:01 AM

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QUOTE(thebuyer @ Jun 18 2021, 11:31 PM)
- Both of us are 25y/o, already placed a booking fee for a subsale unit priced at RM490k
- Single borrowing for RHB, but must do joint loan for HLB
- Spouse RM8k nett, me RM3.7k nett
- ASB loan, credit card limit RM10k monthly. We always pay on time
- High rise condo

Thank you sifus.
*
Loan should not be any issue. HLB best rate should be around 2.95% with min MRTA whilst RHB should be around 3.15%
hlmilk112
post Jun 19 2021, 12:55 PM

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Hi all,
personal details:
-age 43.
-monthly 6k income spouse 0 (housewife)
-no commitment.
-one medium cost apartment (fully paid and settle).

wanna know:
-loan 500k possible?
-max loan tenure can go?
-best rate?
lifebalance
post Jun 19 2021, 01:31 PM

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QUOTE(hlmilk112 @ Jun 19 2021, 12:55 PM)
Hi all,
personal details:
-age 43.
-monthly 6k income spouse 0 (housewife)
-no commitment.
-one medium cost apartment (fully paid and settle).

wanna know:
-loan 500k possible?
-max loan tenure can go?
-best rate?
*
CODE
-loan 500k possible?

Looks fine to me

CODE
-max loan tenure can go?

27 years

CODE
-best rate?

Depends, 2.95 - 3.15
ngph988
post Jun 19 2021, 02:00 PM

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QUOTE(hlmilk112 @ Jun 19 2021, 12:55 PM)
Hi all,
personal details:
-age 43.
-monthly 6k income spouse 0 (housewife)
-no commitment.
-one medium cost apartment (fully paid and settle).

wanna know:
-loan 500k possible?
-max loan tenure can go?
-best rate?
*
Loan amount should be any issue, max loan tenure up to 27 years for residential property whilst commercial property max tenure up to 20-25 years.

Rate wise around 2.95% and above. Subject to your scoring.

Do take note that due to clean CCRIS record, bank is not able to study your payment behavior hence scoring may affect your loan margin and interest rate. I highly recommend you to show your liquid assets to the bank or joint name during loan application.
banoriginal
post Jun 20 2021, 01:29 PM

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Hi all,
personal details:
-age 30.
-monthly net salary 4.3k
-side business income 3k
-housing loan joint name 1.3k
-car loan 400

for this profile loan 550k possible?

This post has been edited by banoriginal: Jun 20 2021, 04:21 PM
lifebalance
post Jun 20 2021, 02:01 PM

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QUOTE(banoriginal @ Jun 20 2021, 01:29 PM)
Hi all,
personal details:
-age 30.
-monthly net salary 4.3k
-side business income 3k
-housing loan joint name 1.3k
-car loan 400

for this profile loan 600k possible?
*
Not recommended.
ngph988
post Jun 21 2021, 09:48 AM

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QUOTE(banoriginal @ Jun 20 2021, 01:29 PM)
Hi all,
personal details:
-age 30.
-monthly net salary 4.3k
-side business income 3k
-housing loan joint name 1.3k
-car loan 400

for this profile loan 550k possible?
*
Loan eligibility is around 430k (excluding side business income), do you have any proof of side income?
- Latest 6 months proof of business income (contract, income slip and etc)
- Latest 6 months of bank statement
- Latest 2 years income tax declaration of business income (Borang B or CP58)
sleyer
post Jun 21 2021, 08:30 PM

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hai,

if i brought house and snp done, loan done, house still on development current progression 35% expected done on end of 2022..

my question is:-
1-can i cancel the purchase ?
2- can i change the other property price lower than before??
3- what is the consequences ???

This post has been edited by sleyer: Jun 21 2021, 08:39 PM
icecreamcake
post Jun 21 2021, 08:37 PM

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hi sifus,

my loan just disbursement from bank to developer. how do i know when started to pay the loan interest ? the bank will send any monthly statement ?
lifebalance
post Jun 21 2021, 11:13 PM

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QUOTE(sleyer @ Jun 21 2021, 08:30 PM)
hai,

if i brought house and snp done, loan done, house still on development current progression 35% expected done on end of 2022.. 

my question is:-
1-can i cancel the purchase ?
2- can i change the other property price lower than before??
3- what is the consequences ???
*
1.nope can't until it's completed

QUOTE(icecreamcake @ Jun 21 2021, 08:37 PM)
hi sifus,

my loan just disbursement from bank to developer. how do i know when started to pay the loan interest ? the bank will send any monthly statement ?
*
Bank will notify you
sleyer
post Jun 21 2021, 11:57 PM

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QUOTE(lifebalance @ Jun 21 2021, 11:13 PM)
1.nope can't until it's completed
Bank will notify you
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can explain more?? if need to wait until complete that mean i need to sold it?
lifebalance
post Jun 21 2021, 11:59 PM

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QUOTE(sleyer @ Jun 21 2021, 11:57 PM)
can explain more?? if need to wait until complete that mean i need to sold it?
*
You can't sell or do anything with it until the property is completed.
sleyer
post Jun 22 2021, 12:04 PM

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QUOTE(lifebalance @ Jun 21 2021, 11:59 PM)
You can't sell or do anything with it until the property is completed.
*
due to covid.. my income are effected.. cant afford to pay monthly commitment

after house are complete.. what option i have ??? can share pls
vinceleo
post Jun 22 2021, 12:24 PM

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Better to approach your bank now given progress only 35% very unlikely to complete by end 2022 given construction will be non-essential business, there is some leeway from bank for those with income disruption during pandemic. To dispose property, timeline of at least 6 months require that will add to your stress around the income disruption

QUOTE(sleyer @ Jun 22 2021, 12:04 PM)
due to covid.. my income are effected.. cant afford to pay monthly commitment

after house are complete.. what option i have ??? can share pls
*

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