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 Mortgage Loan Package Inquiries, (Strictly NO Promotion Allowed)

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Jasoncat
post Jan 5 2016, 09:59 AM

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QUOTE(lifebalance @ Jan 5 2016, 09:23 AM)
3rd party loan is where you deal with someone you might not have a permanent relationship e.g friend and friend, girlfriend and boyfriend vs father & son, mother & daughter, brother & brother.

So there is a risk of default and taking advantage of the other party should anyone of them chooses to default.
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While there is no written rule on how 3rd party loan is defined, the general or more widely accepted perception is that if the borrower(s) is/are different than that of the buyer(s) as registered on the S&P, then it falls under the 3rd party loan category - regardless whether there exist any blood relationship.

This post has been edited by Jasoncat: Jan 5 2016, 10:39 AM
lifebalance
post Jan 5 2016, 10:05 AM

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QUOTE(Jasoncat @ Jan 5 2016, 09:59 AM)
While there is no written rule on how 3rd party loan is defined, the general or more widely accepted perception is that if the borrower(s) is/are different than that of the buyer(s) as registered on the S&P, then it falls under the 3rd party loan category - regardless of the blood relationship.
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Yes, you're right smile.gif
akai82
post Jan 5 2016, 03:41 PM

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hi..seeking for any cimb banker here to do topup financing on my current loan..below is the detail:
1.house price = rm 162000
2.loan amount = rm146000
3.current market value = rm300000

LTV = 90% with max tenure 30year & above..tq
lifebalance
post Jan 5 2016, 05:30 PM

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QUOTE(akai82 @ Jan 5 2016, 03:41 PM)
hi..seeking for any cimb banker here to do topup financing on my current loan..below is the detail:
1.house price = rm 162000
2.loan amount = rm146000
3.current market value = rm300000

LTV = 90% with max tenure 30year & above..tq
*
Sure, I can help, please furnish more details e.g commitment and salary
Madgeniusfigo
post Jan 5 2016, 07:40 PM

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QUOTE(akai82 @ Jan 5 2016, 04:41 PM)
hi..seeking for any cimb banker here to do topup financing on my current loan..below is the detail:
1.house price = rm 162000
2.loan amount = rm146000
3.current market value = rm300000

LTV = 90% with max tenure 30year & above..tq
*
Dear akai82,

Yes, I can help you with this, however, I need more details regarding your case.

May I know your property details? So that I can help you check the value

1. Property type
2. Property full address
3. square feet
built up
land size
4. Renovation details and cost

-----------------------------------------------------------------------------------------------------------------------------------------------

Do provide me with below details so that I can calculate your loan eligibility and how much you can cash out.

1. If your age is less than 36 years of age, 35 years loan tenure is the max.

2. If you have less than 3 mortgage loan, 90% will be achievable


CODE
1.Borrower
-age
-No. of borrowers
-no. of housing loan

2. Income (borrower)
- Gross salary
A:
B:
-Variable income for business (6months latest)
"1.
2.
3.
4.
5.
6."
-OT
-Fixed allowance
-Variable Allowance (6months latest)
"1.
2.
3.
4.
5.
6."
-Bonus contractual (1 year bonus amount)
-Bonus performance (2 years bonus amount)
-Comission (6 months, each month amount from the earliest)
"1.
2.
3.
4.
5.
6."

3. Supporting income (borrower)
-Tenancy agreement rental (6months)
"1.
2.
3.
4.
5.
6."
-ASB ( 2 years total DIV)
-Shares dividend
-Fixed deposit

4. Debt / commitment (borrower) "joint or indiv"
-Hire purchase loan (Borrowed amount)*
-Housing loan (Borrowed amount) (Joint or indiv)
-Personal loan (Credit limit)
-PTPTN (credit limit)
-Credit card (Outstanding/usage)
-ASB loan ( credit limit)
- Overdraft ( Credit limit)

4. Background (borrower)
-Occupation
age
-currently staying at?

5. Property
- purchase price
-subsales or underconstruction
- freehold or leasehold
- 1 borrower or joint borrower
SUScall me random
post Jan 7 2016, 01:31 PM

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hi..

need advise here..

my take home pay is 3.8k
study loan settled, no other commitment.

what max loan i can get?
personal loan/property loan.

and do i get this right?
for house u can get 90% financing, for land 70%
if not, pls advise


tq
TSlucifah
post Jan 7 2016, 01:36 PM

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QUOTE(call me random @ Jan 7 2016, 01:31 PM)
hi..

need advise here..

my take home pay is 3.8k
study loan settled, no other commitment.

what max loan i can get?
personal loan/property loan.

and do i get this right?
for house u can get 90% financing, for land 70%
if not, pls advise
tq
*
your 3.8k is nett after minus statutory deductions eg epf & socso?
SUScall me random
post Jan 7 2016, 01:38 PM

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QUOTE(lucifah @ Jan 7 2016, 01:36 PM)
your 3.8k is nett after minus statutory deductions eg epf & socso?
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yes.. epf socso tax

non fixed allowance no need kira right?
Madgeniusfigo
post Jan 7 2016, 03:03 PM

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QUOTE(call me random @ Jan 7 2016, 02:31 PM)
hi..

need advise here..

my take home pay is 3.8k
study loan settled, no other commitment.

what max loan i can get?
personal loan/property loan.

and do i get this right?
for house u can get 90% financing, for land 70%
if not, pls advise
tq
*
Dear call me random laugh.gif ,

1. With your income, max loan eligible is RM630,000

2. You have no debt? not even credit cards? That's quite bad for credit scoring. Your ccris if no record, bank can't identify your payment pattern, hence they doesn't understand you and wouldn't finance you the loan when they don't understand you.

3. However, If you have strong saving amount in your bank account, it will help boost your credit scoring, because they view you as someone with good saving behavior.

4. If finance only land, margin of finance will be 50-60%.
If finance housing loan, it is 90%.
If finance land and construction can be 70-80%
user posted image
Madgeniusfigo
post Jan 7 2016, 03:05 PM

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From: Kuala Lumpur
QUOTE(call me random @ Jan 7 2016, 02:38 PM)
yes.. epf socso tax

non fixed allowance no need kira right?
*
Dear,

1. If allowance is in variable state, provide 6months of proof of allowance income. Some bank needs 3 months of proof, eventhough it is variable. Different bank different ball game, different method, different policy. Lol tongue.gif
SUScall me random
post Jan 7 2016, 03:07 PM

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QUOTE(Madgeniusfigo @ Jan 7 2016, 03:03 PM)
Dear call me random laugh.gif ,

1. With your income, max loan eligible is RM630,000

2. You have no debt? not even credit cards?  That's quite bad for credit scoring. Your ccris if no record, bank can't identify your payment pattern, hence they doesn't understand you and wouldn't finance you the loan when they don't understand you.

3. However, If you have strong saving amount in your bank account, it will help boost your credit scoring, because they view you as someone with good saving behavior.

4. If finance only land, margin of finance will be 50-60%.
If finance housing loan, it is 90%.
If finance land and construction can be 70-80%
user posted image
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got cc..


damn 50% only.. so ready cash amount governs la. nvm the loan amount

sweat.gif
SUScall me random
post Jan 7 2016, 03:10 PM

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QUOTE(Madgeniusfigo @ Jan 7 2016, 03:05 PM)
Dear,

1. If allowance is in variable state, provide 6months of proof of allowance income. Some bank needs 3 months of proof, eventhough it is variable. Different bank different ball game, different method, different policy. Lol tongue.gif
*
the allowance varies.. most of the time enough to offset the deductions lol
sometimes more sometimes less..

doesnt matter now.. need to calculate using cash amount i think.. hmm.gif

tq
sevendogz
post Jan 7 2016, 05:51 PM

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my income 5k, car loan settled, one flexi house loan RM300k fully covered for monthly deduction without interest
what is my max loan now?
lifebalance
post Jan 7 2016, 05:52 PM

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QUOTE(sevendogz @ Jan 7 2016, 05:51 PM)
my income 5k, car loan settled, one flexi house loan RM300k fully covered for monthly deduction without interest
what is my max loan now?
*
5k is gross or nett?

300k what is the installment ?
sevendogz
post Jan 7 2016, 05:55 PM

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QUOTE(lifebalance @ Jan 7 2016, 05:52 PM)
5k is gross or nett?

300k what is the installment ?
*
actually more than 5k nett
installment is around RM1200, but I already parked the whole sum there, in cash but haven't settle, just in case
kwaick
post Jan 7 2016, 06:19 PM

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any refinance package without moving cost?
lifebalance
post Jan 7 2016, 06:24 PM

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QUOTE(kwaick @ Jan 7 2016, 06:19 PM)
any refinance package without moving cost?
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AIA 4.99% with zero moving cost and no lock in period
Madgeniusfigo
post Jan 7 2016, 06:46 PM

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QUOTE(sevendogz @ Jan 7 2016, 06:55 PM)
actually more than 5k nett
installment is around RM1200, but I already parked the whole sum there, in cash but haven't settle, just in case
*
Dear sevendogz,

1. With your income, gross income should be around RM6000, debt commitment according to RM300K loan. Your max loan eligible is RM480,000. For other bank loan eligibility, do look at bottom right section, yellow highlight.

2. Housing loan commitment isn't based on your current installment payment, bank has their own calculation on your housing loan installment.

user posted image
Madgeniusfigo
post Jan 7 2016, 06:46 PM

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QUOTE(kwaick @ Jan 7 2016, 07:19 PM)
any refinance package without moving cost?
*
Dear,

HSBC, HAS ZERO MOVING COST, package.

RATE depends on your loan amount

1. May I know what's the market value for your property?

This post has been edited by Madgeniusfigo: Jan 7 2016, 06:47 PM
lifebalance
post Jan 7 2016, 06:53 PM

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QUOTE(sevendogz @ Jan 7 2016, 05:55 PM)
actually more than 5k nett
installment is around RM1200, but I already parked the whole sum there, in cash but haven't settle, just in case
*
Bro,

Your max loan is RM433,168.

RM1200 still considered a monthly commitment and I rate 0.65% for DSR for safe measure due to salary above 5k.

smile.gif
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