Mortgage Loan Package Inquiries, (Strictly NO Promotion Allowed)
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 Jun 20 2018, 05:09 PM
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#21
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All Stars
13,783 posts Joined: Jan 2006 From: stress & confuse world   
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got a letter from bank that i will be serving monthly installment soon but isn't it i will be paying interest first until my house VP?
my property undercon and just released 1st 10% to developer |
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Jun 20 2018, 05:25 PM
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#22
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All Stars
13,783 posts Joined: Jan 2006 From: stress & confuse world
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got it sorted  This post has been edited by hihihehe: Jun 20 2018, 10:21 PM |
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Aug 6 2018, 11:22 AM
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#23
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All Stars
13,783 posts Joined: Jan 2006 From: stress & confuse world
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does interest payment different every month?
10% has been disbursed to developer and 2nd month interest charged way higher than first month  |
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Sep 28 2022, 07:32 PM
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#24
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All Stars
13,783 posts Joined: Jan 2006 From: stress & confuse world
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could be a stupid question but anyone can advise this?
eg: 1. applied rm600k loan with 4.0% interest rate for 35 years (around rm2.6k per month) for under-con condo 2. started paying progressive interest (say rm1k interest per month) for 5 years 3. after vp, the loan amount will be the loan balance x 4.0% for 30 years? hope you guys know what i mean 3. vp in 5th year |
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Sep 28 2022, 10:10 PM
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#25
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All Stars
13,783 posts Joined: Jan 2006 From: stress & confuse world
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QUOTE(mini orchard @ Sep 28 2022, 09:38 PM) If not mistaken, 35 years is from VP date or 3 years after SnP date whichever earlier. then my monthly payment is kinda weirdIf the property cannot vp as per SnP agreement date, meaning a delay, borrower have to start the monthly instalment payment. Progressive interest payment is not included in the 35 years.  based on the calculation, i should been paying around rm2.6k per month with 4.1% previously. then the rate dropped/increased in these 2 years and showing 3.72% in my loan but i actually paying rm2.7k now |
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Sep 29 2022, 10:35 AM
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#26
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All Stars
13,783 posts Joined: Jan 2006 From: stress & confuse world
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QUOTE(mini orchard @ Sep 28 2022, 10:26 PM) Did you applied for any moratorium during mco ? Depending on banks, some include the moratoriium in the monthly repayment now. ohh you might have the point here even though the moratorium for my progressive interestBest is to call the bank or visit the branch to clarify. i will do a call with them to clarify then |
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Nov 23 2022, 10:48 AM
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#27
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All Stars
13,783 posts Joined: Jan 2006 From: stress & confuse world
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QUOTE(Rinth @ Nov 21 2022, 03:02 PM) well you can look at your online banking too....for me my RHB loan it is shown 420 installment all along even i pay progressive interest...untill full disbursement then only start reducing with each monthly installment (principal + interest) same. the progressive interest doesn't really reduce the loan amountand the interest rate that is signed during undercon will only take effect after full disbursement too |
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Nov 23 2022, 02:47 PM
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#28
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All Stars
13,783 posts Joined: Jan 2006 From: stress & confuse world
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QUOTE(mini orchard @ Nov 23 2022, 12:25 PM) Progressive interest DONT reduce loan amount. but progressive interest will reduce loan interest payment?In accounting treatment, when interest is charged is debited to account. When borrower pays, is credited to account. The nett effect is ZERO. |
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Nov 28 2025, 02:21 PM
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#29
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All Stars
13,783 posts Joined: Jan 2006 From: stress & confuse world
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those with public bank, does the loan terms in summary showing the total tenure i signed up or is the remaining terms?
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