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

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Yakchew
post Jun 22 2022, 04:48 PM

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Hi guys who do I ask for the invoice for downpayment from? From the agent / developer side OR contact the lawyer?
sev66
post Jun 23 2022, 01:57 AM

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Hi all, got offer from Alliance while 1 offer only 70% and 1 rejected.

Islamic financing for 2nd house
spa price : RM1,154,888.00
Loan : RM1,039,399 (90.00%)
MRTT: RM34,608.00 cover 700k for 25years
Tenure: 32years
Rate: 3.10% (after appeal)
Instalment: RM4413

OK deal? What should i ask before sign the agreement? Any1 else got experience with Alliance? Thx

This post has been edited by sev66: Jun 23 2022, 01:58 AM
vinceleo
post Jun 23 2022, 07:07 AM

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Look ok IMO

QUOTE(sev66 @ Jun 23 2022, 01:57 AM)
Hi all, got offer from Alliance while 1 offer only 70% and 1 rejected.

Islamic financing for 2nd house
spa price : RM1,154,888.00
Loan : RM1,039,399 (90.00%)
MRTT: RM34,608.00 cover 700k for 25years
Tenure: 32years
Rate: 3.10% (after appeal)
Instalment: RM4413

OK deal? What should i ask before sign the agreement? Any1 else got experience with Alliance? Thx
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lifebalance
post Jun 23 2022, 10:57 AM

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QUOTE(sev66 @ Jun 23 2022, 01:57 AM)
Hi all, got offer from Alliance while 1 offer only 70% and 1 rejected.

Islamic financing for 2nd house
spa price : RM1,154,888.00
Loan : RM1,039,399 (90.00%)
MRTT: RM34,608.00 cover 700k for 25years
Tenure: 32years
Rate: 3.10% (after appeal)
Instalment: RM4413

OK deal? What should i ask before sign the agreement? Any1 else got experience with Alliance? Thx
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Looks fine
forever1979
post Jun 23 2022, 04:48 PM

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is the DSR a MUST factor to determine the loan ?


lifebalance
post Jun 23 2022, 04:51 PM

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QUOTE(forever1979 @ Jun 23 2022, 04:48 PM)
is the DSR a MUST factor to determine the loan ?
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Of course
briggs86
post Jun 23 2022, 06:40 PM

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Bank A ( HLB semi Flex)
Loan amount: RM 889,200
Tenure:33 years
3.05% monthly
Installment :RM 3,565
No insurance ( have to source insurance)

Bank B (RHB Ful Flex)
(option 1)
Loan Tenure: 35 years
Loan amount: RM 889,200 (90%)
CLTA finance in loan : RM 48,781
Total Loan amount : RM 937,981
Monthly repayment: RM 3,637
CLTA (level term schedule)
covered 626k 65% of loan 25 years

Option 2
cover 20 years , 854k fix level term (CLTA ) , Premium RM 44,298
RM 3,619

Option 3
Cover 10years RM 889,200 (90% of loan) + Premium RM 18,524 = RM 907,724
Installment RM 3,519

Shall i take offer Bank A then get for outsider insurance ? 1st time buying a home rclxub.gif

This post has been edited by briggs86: Jun 23 2022, 06:42 PM
kok_pun
post Jun 24 2022, 11:22 AM

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QUOTE(briggs86 @ Jun 23 2022, 06:40 PM)
Bank A ( HLB semi Flex)
Loan amount: RM 889,200
Tenure:33 years
3.05% monthly
Installment :RM 3,565
No insurance ( have to source insurance)

Bank B (RHB Ful Flex)
(option 1)
Loan Tenure: 35 years
Loan amount: RM 889,200 (90%)
CLTA finance in loan : RM 48,781
Total Loan amount : RM 937,981
Monthly repayment: RM 3,637
CLTA (level term schedule)
covered 626k 65% of loan 25 years

Option 2
cover 20 years , 854k fix level term (CLTA ) , Premium RM 44,298
RM 3,619

Option 3
Cover 10years RM 889,200 (90% of loan) + Premium RM 18,524 = RM 907,724
Installment RM 3,519

Shall i take offer Bank A then get for  outsider insurance ? 1st time buying a home  rclxub.gif
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IMHO,having some insurance is always good, but insurance bundling is always a bad idea as statically bank's average retention period is 7 years
nick_km P
post Jun 24 2022, 04:04 PM

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Hi sifus,

I am considering whether to take LPPSA loan or bank loan to finance my 1st property (not a PR1MA or PPAM house). The options are as below:

LPPSA

Loan Amount : RM 400,000
Tenure : 25 years
Insurance : RM 17,645 (including LHTO)
Interest Rate : 4% (Fixed for the entire tenure)
Monthly Instalment : RM2,205
No restrictions on advance payment

Bank (Semi-Flexi)

Loan Amount : RM 400,000
Tenure : 25 years
Insurance : RM 10,131 (MRTA 100% for the entire tenure)
Interest Rate : 3.05% (BR + 0.17%)
Monthly Instalment : RM1,956
Interest saved on advance payment up to 30% of outstanding balance

Any advice on which loan is more suitable for me at the moment? I am buying for own stay and currently have no plan to purchase a 2nd property in the near future.

Thanks.
mushigen
post Jun 24 2022, 04:41 PM

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QUOTE(briggs86 @ Jun 23 2022, 06:40 PM)
Bank A ( HLB semi Flex)
Loan amount: RM 889,200
Tenure:33 years
3.05% monthly
Installment :RM 3,565
No insurance ( have to source insurance)

Bank B (RHB Ful Flex)
(option 1)
Loan Tenure: 35 years
Loan amount: RM 889,200 (90%)
CLTA finance in loan : RM 48,781
Total Loan amount : RM 937,981
Monthly repayment: RM 3,637
CLTA (level term schedule)
covered 626k 65% of loan 25 years

Option 2
cover 20 years , 854k fix level term (CLTA ) , Premium RM 44,298
RM 3,619

Option 3
Cover 10years RM 889,200 (90% of loan) + Premium RM 18,524 = RM 907,724
Installment RM 3,519

Shall i take offer Bank A then get for  outsider insurance ? 1st time buying a home  rclxub.gif
*
Does HLB semi-flexi still allow for just 30% offset on remaining loan principle? If you intend to pay in advance to lower your interest amount, you may want to check this out.

vinceleo
post Jun 24 2022, 05:27 PM

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Opt for the lower interest

QUOTE(nick_km @ Jun 24 2022, 04:04 PM)
Hi sifus,

I am considering whether to take LPPSA loan or bank loan to finance my 1st property (not a PR1MA or PPAM house). The options are as below:

LPPSA

Loan Amount : RM 400,000
Tenure : 25 years
Insurance : RM 17,645 (including LHTO)
Interest Rate : 4% (Fixed for the entire tenure)
Monthly Instalment : RM2,205
No restrictions on advance payment

Bank (Semi-Flexi)

Loan Amount : RM 400,000
Tenure : 25 years
Insurance : RM 10,131 (MRTA 100% for the entire tenure)
Interest Rate : 3.05% (BR + 0.17%)
Monthly Instalment : RM1,956
Interest saved on advance payment up to 30% of outstanding balance

Any advice on which loan is more suitable for me at the moment? I am buying for own stay and currently have no plan to purchase a 2nd property in the near future.

Thanks.
*
aeronlim
post Jun 24 2022, 06:37 PM

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May I know which bank currently offer the best mortgage rate?

Want to get the loan with best rate, semi flexi or full flexi will be okay as long as rate is attractive.
coolguy99
post Jun 25 2022, 10:16 AM

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QUOTE(aeronlim @ Jun 24 2022, 06:37 PM)
May I know which bank currently offer the best mortgage rate?

Want to get the loan with best rate, semi flexi or full flexi will be okay as long as rate is attractive.
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Try HLB and PBB. I applied for 4 banks including Rhb and mbb too but those two offered me the lowest rate
nick_km P
post Jun 25 2022, 10:42 AM

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QUOTE(vinceleo @ Jun 24 2022, 05:27 PM)
Opt for the lower interest
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Bank's interest rate is currently lower compared to LPPSA's fixed 4%.

However in the long run (25 years tenure), would the floating rate offered by banks be sort of a disadvantage compared to fixed rate should the OPR increases beyond 4%?

nick_km P
post Jun 25 2022, 10:45 AM

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QUOTE(coolguy99 @ Jun 25 2022, 10:16 AM)
Try HLB and PBB. I applied for 4 banks including Rhb and mbb too but those two offered me the lowest rate
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I received an offer from HLB which was BR + 0.17%.
Still waiting to hear back on PBB's application.
lifebalance
post Jun 25 2022, 10:47 AM

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QUOTE(nick_km @ Jun 24 2022, 04:04 PM)
Hi sifus,

I am considering whether to take LPPSA loan or bank loan to finance my 1st property (not a PR1MA or PPAM house). The options are as below:

LPPSA

Loan Amount : RM 400,000
Tenure : 25 years
Insurance : RM 17,645 (including LHTO)
Interest Rate : 4% (Fixed for the entire tenure)
Monthly Instalment : RM2,205
No restrictions on advance payment

Bank (Semi-Flexi)

Loan Amount : RM 400,000
Tenure : 25 years
Insurance : RM 10,131 (MRTA 100% for the entire tenure)
Interest Rate : 3.05% (BR + 0.17%)
Monthly Instalment : RM1,956
Interest saved on advance payment up to 30% of outstanding balance

Any advice on which loan is more suitable for me at the moment? I am buying for own stay and currently have no plan to purchase a 2nd property in the near future.

Thanks.
*
LPPSA if you're worried about interest hike in the future, otherwise, normal bank loans.
Heyboo P
post Jun 25 2022, 07:48 PM

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Hi,
looking for bankers that can offer me good housing loan rates for a condo valued at RM390k.
Kindly DM me. Thank you
vinceleo
post Jun 25 2022, 09:58 PM

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Take the lower one and manage the future hike if any when it happen, you can always refinance to more favorable term down the road

QUOTE(nick_km @ Jun 25 2022, 10:42 AM)
Bank's interest rate is currently lower compared to LPPSA's fixed 4%.

However in the long run (25 years tenure), would the floating rate offered by banks be sort of a disadvantage compared to fixed rate should the OPR increases beyond 4%?
*
myrancid
post Yesterday, 02:17 PM

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I’m looking to buy a small shop lot. Please let me know if there is anything I can negotiate the interest rate or takaful offered to me.

This post has been edited by myrancid: Yesterday, 02:18 PM

 

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