Hi all,

I have a question about home loan to ask. Let's say I currently have 2 properties now, one that doesnt require me to pay any loan, another one is serving a 80% loan from the bank, was wondering could I still be entitled to take a 90% loan from the bank for my 3rd property? Because I remembering some hearsay that I could only loan 70% of my house's value for the 3rd property.

Hope to get some advice from the sifu-sifus around here, thanks!

IMHO, you are overstretching your monthly commitments

What is your take home pay - less EPF, Tax, etc

If you take a 90% loan of RM1.5 mln = RM1.35 mln @ 4.5% for 35-years = RM6,400 per month. + RM1.7K for car loan + RM2K in joint expenses = RM10,100 which is already almost your Gross Pay

Also, you need some savings righ for emergency / one-off expenses / year end expenses

This is something you can afford to buy but CANNOT afford to maintain.

Was in the same shoes - saw a Semi D that I really loved but after crunching the numbers - cannot afford to live

Hi All,

I am in the midst of considering which bank loan package at the moment for my first house. I have applied for many banks (Not all of them) via contact from my agent so far, three replied but not much detail I got here cause I wasn't sure what is the correct questions/checklist when looking at the loan package. Three more banks pending due to their internal arrangement. Anyone kind to guide me where or what to check in mortgage offer letter? Such as MRTA (Some included some are not), Flexi / Semi-flexi. I understand about the BR and Spread terminology, but not different kind of packages.

Thanks.

Hi All,

Seeking some expert advice here as I got offered from few banks so far:-

Bank A: 3.65 + 0.90 = 4.45 (MOF: 90%, Tenure: 35 Years) + Sum $ MRTA
Bank B: 3.99 + 0.41 = 4.40 (MOF: 90%, Tenure: 35 Years) *No MRTA included
Bank C: 4.02 + 0.43 = 4.45 (MOF: 90%+5%, Tenure: 35 Years) + Sum $ MRTA

I am still waiting for another two banks but it seems that they may take quite long time to get back to me. Thanks.

Edit: Thanks Jasoncat on your earlier advise.

The calculation to calculate your commitment is called DSR(Debt Service Ratio).

First of all u need to know your income:
Income Basic pay      : RM2500
Fixed Allowance        : RM500
Total                        : RM3000
Commitment Car        : RM400
House                        : RM600
Credit Card                : RM100
Personel Loan/ASB    : RM100
New House                : RM900
Total                          : RM2100

SUM:  RM2100 / RM3000 = 70% As above illustration the DSR is 70% meaning that u can get the loan. if your DSR is above 70% i.e 70.01% u are mostly unable to get the loan, but certain bank accept dsr till 75%.

Credit card in this figure means monthly credit card expenditure? Or outstanding credit card loan? I.e. does the DSR computation take into account monthly expenditure like rent, groceries etc? Sorry if this question sounds really noob...haha

higher income means rm10k+ per month?

some banks calculate based on gross pay. eg : Citibank .

One example again is Aeon/RHB - they accept DSR more than 75% if your salary hits between 10-20k per month

what is the procedure to do early settlement of housing loan?

pay up all outstanding amount to bank or go thru lawyer and get them to setttle?

so in the end still need a lawyer to do a discharge?  redemption from bank alone is not enough in this case

Hi all,

Is it possible to use previous employment pay slip to be use when applying for loan?

Because I only started my current job early of this month... so need to wait for for another 3 month for the slip...

Or is the any other suggestion?

TQ

so is it enough if I provide my previous employment pay slip (3 month), current letter of offer and one month payslip of current job, EPF statement and bank statement?

Hello expert,

I wonder how much is base rate charged currently if i decided to apply islamic finance to purchase auction house?

My house is fully paid. Can I refinance the house? Appreciate the advice. Tq

Hi,

Would like to get some opinion on choosing which bank homeloan.

If BR % + spread % = Effective homeloan %, eg.
A Bank = 4% + 0.5% = 4.5%
B Bank = 3.8% + 0.7% = 4.5%

I understand that BR% may fluctuate, but spread% is fixed throughout the lifetime of loan. If A and B bank all have same Effective home, which should you choose given that both effective rates are the same?

Thanks in advance...

Although PTPTN may not appear in the CCRIS, its important for the Borrower to take it into consideration.

If your net cashflow is only say 800 after deducting PTPTN of 200, then the Max monthly repayment you can afford is only 800 and not 1000

I tried recently both PBB and alliance, only alliance willing to appeal for 4.40. PBB said best rate is 4.45.

I called up more than 10 banks, including harimau & 2 foreign bank, for loan amt RM 500k for subsale leasehold condo: only 4 said can-do and 1 said can appeal for 4.4 for loan above 500k (all 4 said can appeal if loan abt 1 mil - no commit on rate), rest said "no appeal, best rate.".

Reason given by no-do banks: property is leasehold more than 10 years without strata title. I learned something after 3rd no-do bank said that.

Not generalizing but real situation above; so what is the criteria for successful appeal? What is the criteria for giving lowest/best rate?

Oh yes, lastly, the rest of can-do bank said they are willing to appeal to match if can see offer letter.

4.55% is blr minus how much?

Any ppl here know about PTPTN in our ccris.

I'm going to apply housing loan but since 2009 my ptptn got many outstanding months cos I seldom to pay. If I go to BNM sure very big number appear in my ccris.

Anyone knows on how to clear this such thing before I go to apply loan? I just know about ptptn in ccris *sigh

If u ask me to pay the outstanding amount, mati la. Cash that I have just nice to pay deposit & other upfront payment.

Thanks @Jasoncat for prompt reply.
Have you experienced it before or just hearsay?
I read in PTPTN website that they will start to implement on 1st Jan 2015.