i will avoid cimb at all cost.

in 2015 they offer me 4.95%!! then this time round they offered 4.6%

gila

Scenario,
SPA Price : 567k
Downpayment: 150k + rebates

My expectation
Loan Amount: 350k @ 4.15% x 35 years
Monthly Commitment: RM1582

Bank offer (approved)
Loan Amount: 510k @ 4.15% x 35 years
Monthly Commitment: RM2305

Told the bank i only want to commit RM1.6k per month. The bank said, i can take up 510k and place the RM150k in the current account upon VP (instead of paying now to developer) and request the bank to bringthe commitment down from 2.3k --> 1.6k.

My question, can this be done? Reduce from 2.3k --> 1.6k upon VP.

it happened to me too.

the dev provided -10% rebate so i only need to apply for 90%. but the bank don't care about the -10% and want me to proof i have the 10% in hand to pay for downpayment. so FD+EPF+Bonds+UT+Stocks

but isn't it better if i put the 150k in FD to earn some interest first? i know i am paying progressive interest for the first 3++ years. but i think the interest earned in FD can cover the progressive interest paid right

on the side note, i dont think you should buy such expensive one for the 1st house.
4300 - 910 car - 2500 mortgage - 250 maintenance fees = you're left with 640 for makan+petrol+savings+insurance

unless you say someone else is paying then diff story

then your partner really love you le... no name in the property but willing to pay 1250 every month

since your car loan balance less than 10k... one shot clear and see if can get 90% margin lo...

if undercon project, 0.1% makes no diff.... 1st year maybe <RM100 only
i will take MBB, seems more stable on BR if i'm not wrong.

Hi Sifus,
House A Loan Amount : 298k
Interest 4.42% @ 35years
Commitment : 1,405
Loan Type : Semi-Flexi (already checked with bank, extra amount will be used to reduce principal)

What I am doing now
1. I am currently paying 1.7k so the tenure has been roughly shaved down to 24 years, target to finish paying by August 2042.
2. I am saving 1k per month in FD for House B (simple reno and the usual cost during VP), another 34 months to go i.e. May 2022.

What I plan to do
Instead of putting 1k into FD, I plan to put it into my House A's loan, making it 1.7k+1k=2.7k for the next 34 months to reduce the principal faster, and back to 1.7k on the 35th month. Meaning total I put 34k extra into the loan.


What I found out
1. By paying 2.7k for the next 34 months, my loan will be shaved down to 20 years and can finish by Aug 2038.
2. But since I need that 34k during House B's VP, I will need to withdraw that 34k out for that purposes (at the 35th month, around June 2022).
3. At June 2022, before withdrawing anything, my loan balance is 236k.

Is this correct?
1. After withdrawal of that 34k, does my loan balance go back to 236k+34k=270k?
2. It seems like after withdrawal, my loan tenure added back and will finish by May 2042. Which in total, after so many hassle, i only shortened the tenure by 3 months (August 2042 --> May 2042)?
3. Is my calculation incorrect? Or I should just drop this thought.

I hope I have provided enough data for the simulation. Just wanted to check with sifus if my calculations are correct and this method is not workable.


This post has been edited by diners: Aug 19 2019, 06:43 PM

i assume MBB is MRTA. is PBB's ODLTA? if yes, i'll take PBB.

if no, take the cheapest.

This post has been edited by diners: Aug 28 2019, 09:58 PM

It should read ODLTA. Overdraft level term assurance.

Something in between MRTA and MLTA.

The sum assured will remain the same throughout the tenure like MLTA but the beneficiary is the bank like MRTA. The premium can be paid one off and put into loan like MRTA as well.

The ODLTA I purchased was for 200k for 20years premium RM5000.

MBB HLBB 4.2%
PBB 4.15%

my friend apply MBB get 4.15%

the sum insured does not cover your loan amount also? unless you plan to let go after 10-15 years lah...

i think you should top up the coverage, or get a separate coverage on your loan (if intending for own stay)...

like 150k from bank, 400k from outside, much safer that way

if i read correctly,

take home 3800 - installment 2400 - credit card 1000 = balance 400.... can survive?

3.9% is quite high though.... imagine if the OPR increase back 0.5%, you are paying 4.4% compared to let's say those who got thier loans approved last year @ 4.15%

Consider not bad. My Guess, PBB? 😜

i'll opt for the PBB one...

is actually ok... means you are paying a little bit more principal... it doesn't matter anymore if you're planning to pay more monthly.... the extra will ultimately reduce your principal...