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 Mortgage Loan Package Inquiries, (Strictly NO Promotion Allowed)

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lifebalance
post Feb 29 2016, 05:31 PM

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QUOTE(devil_x @ Feb 29 2016, 05:27 PM)
hi. first time house buyer.

wanna ask sifus here, for housing loan of RM490, if the MLTA to be included in the loan financing, is RM17k is "ok" pricing? from advice from few friends, RM17k seems to be quite high (based on assumption that is should be around RM3k per RM150k loan).

im age 33, going for 35 yrs loan.
*
That's not MLTA, that's a MRTA. The cost of ownership is higher. I've pmed you an alternative
Yamma
post Feb 29 2016, 05:33 PM

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which bank offer the lowest interest rate for refinancing?
How bank compute the cash excess for the loan?

I'm looking to refinance my property
lifebalance
post Feb 29 2016, 05:39 PM

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QUOTE(Yamma @ Feb 29 2016, 05:33 PM)
which bank offer the lowest interest rate for refinancing?
How bank compute the cash excess for the loan?

I'm looking to refinance my property
*
Lowest 4.4% for interest rate

The cash excess is based on 80% - 90% of ur property market value

e.g Outstanding current loan @ 500k, market value @ 1.0 Mil, so it's 80% of the 1.0 Mil = 800k

So the cash excess is 800k - 500k = 300k

Feel free to whatsapp me on your requirement
Madgeniusfigo
post Feb 29 2016, 06:41 PM

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QUOTE(nxtpg @ Feb 28 2016, 09:34 PM)
loan settlement inquries

planning to settle a loan under HL islamic

can we just walk in to the bank and ask them for redemption sum and pay on the spot?

or do we need to give at least 1 month notice?

what will be the correct procedure?
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Dear nxtpg,

1. Walk in into the bank branch and inform them that you wanna settle the housing loan. THey will provide you form to fill in to get the redemption letter. take maybe week-month.

2. Sometimes there would need a lawyer to facilitate the settlement, so it is based on bank to bank basis.

This post has been edited by Madgeniusfigo: Feb 29 2016, 06:42 PM
Madgeniusfigo
post Feb 29 2016, 06:44 PM

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QUOTE(huaweie5830 @ Feb 29 2016, 12:04 AM)
Hi,

I first time buy prop,

It is a 2 units of commercial prop, shopping mall lot in kelantan, total value ard 900k

Paid 10% deposit, waiting to pay another 20% within next few weeks

Any banker who can meet up in kuala lumpur , pls pm me
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Dear huaweie5830,

1. Kelanatan property, have you get the value yet? most of the commercial property are malay rezab land.

2. It's always advisable to get loan approval before paying for the down payment. So that you are secured.

3. I can meet you around this week, do give me a call.
Madgeniusfigo
post Feb 29 2016, 06:45 PM

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QUOTE(cclay @ Feb 29 2016, 01:53 AM)
Any bros know when will the bank update CCRIS. Is it still on the 15th every month?
Just want to make sure that I got it correct before I submit loan application.. smile.gif
*
Dear cclay,

1. the ccris update has changed to around 10-11th date for updating.
Madgeniusfigo
post Feb 29 2016, 06:47 PM

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QUOTE(party @ Feb 29 2016, 02:13 AM)
1.Borrower
a.age = 29
b. No. of borrowers = 1
c. no. of housing loan = 0

2. Income (borrower)
a. Gross salary = RM4500
b. OT = Btw RM 100 - 300 due to stricter policy now.
c. Bonus performance (2 years bonus amount) -
2015 RM6.4k
2016 RM11k
4. Debt / commitment (borrower) indiv
a. Personal loan - borrow RM16k (int 20%) on July 2015. 4 years 6 months to go.
b. PTPTN - RM30k

4. Background
a. Occupation - Banking Shared Service Center
b. age - 29
c. currently staying at - rent room at bkt jalil

5. Property - None yet. Want to know what's the price range I should be targeting. Might look to buy this year.
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Dear party,

1. Based on your income and debt, Your max loan eligibility is RM723,000 for HLB. For other banks, do look at right bottom corner for yellow highlight for each bank.

2.This is just initial estimation, not a confirmation, as I need to look at your CCRIS, CTOS and loan documentation before we can further proceed with it.

user posted image
Madgeniusfigo
post Feb 29 2016, 06:48 PM

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QUOTE(ponyznon @ Feb 29 2016, 10:07 AM)
Thanks fr the info
*
Dear,

No sweats! Hope that the information helps you.
Madgeniusfigo
post Feb 29 2016, 06:52 PM

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QUOTE(Yamma @ Feb 29 2016, 06:33 PM)
which bank offer the lowest interest rate for refinancing?
How bank compute the cash excess for the loan?

I'm looking to refinance my property
*
Dear,

1. Currently there's few banks still offering good rate, ambank rhb hlbb pbb and cimb. I'm like mentioning all the banks haha. However, few of the banks would look at your profile before giving you the rate. Ambank and RHB usually would give the lowest rate of all. HLBB,PBB, CIMB would also give a very good rate, given that your profile is in good shape.

2. I would recommend that before proceeding with any bank first, I would need to know what's your objectives for the refinancing. As each bank refinancing cash out has its own terms and condition.

3. Excess cash would be factor in DSR, lower DSR means higher your income, or debt commitment is low, whereby it will improve your credit scoring for better rate.

4. We can talk more indepth, just give me a call 016-868-1373
Madgeniusfigo
post Feb 29 2016, 06:56 PM

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QUOTE(devil_x @ Feb 29 2016, 06:27 PM)
hi. first time house buyer.

wanna ask sifus here, for housing loan of RM490, if the MLTA to be included in the loan financing, is RM17k is "ok" pricing? from advice from few friends, RM17k seems to be quite high (based on assumption that is should be around RM3k per RM150k loan).

im age 33, going for 35 yrs loan.
*
Dear devil_x

1. You are purchasing banks MRTA, which will lump into the loan amount. The total cost wouldn't be rm17k ONLY, as there's compound interest for 35 years, whereby RM17 would become RM33K++

2. Benefits

CODE
MRTA
1. REDUCING protection, when interest rate rise, the protection will be reduced and couldn't covered the total loan amount.
2. when you sell or refinance your property, MRTA policy will lapse. You will need to purchase a new one whereby factor in your current age, it will be even more expensive
3. It's only beneficial to the bank
4. Interest will be charged when finance into the loan amount
5. There's a time frame for the amount to be claimed when (death/TPD) occured. 2-4 years. With will writing 2-3 years.

MLTA
1. it is a term protection. Rm500k protection, after 35 years will still be Rm500k
2. When sell or refinance your proeprty, MLTA wouldn't lapse and will still be active.
3. It's beneficial to you
4. There's Hot cash receivable when you lapse the policy. Around 20 years, your cash value receivable will breakeven with total premium paid.
5. Death or TPD occured, it will take 7-30 days to receive the death benefit cash value


3. I would recommend you take different MLTA rather than lumping the amount into total loan amount. The MLTA I am introducing you will pay based on monthly/yearly basis, whereby you can cancel the policy anytime you feel your budget is tight.
It will protects you till 99 years of age.

4. I can adjsut the mlta based financial planning on your objectives. If you need free consultation help, just give me a call 016-868-1373

This post has been edited by Madgeniusfigo: Feb 29 2016, 07:04 PM
lifebalance
post Feb 29 2016, 06:59 PM

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QUOTE(Yamma @ Feb 29 2016, 05:33 PM)
which bank offer the lowest interest rate for refinancing?
How bank compute the cash excess for the loan?

I'm looking to refinance my property
*
I would also like to reiterate that taking a refinancing with normal bank will calculate based on 10 years DSR on cash out portion and 35 years on previous outstanding loan amount so the 10 years DSR on the extra cash out might eat up your DSR whereas AIA will provide up to 35 years calculation on both cash out and previous outstanding which will ease your approval for refinancing. The 35 years is subject to up to age 70 whichever comes first. Feel free to contact me via whatsapp or call to find out more.

This post has been edited by lifebalance: Feb 29 2016, 07:44 PM
Madgeniusfigo
post Feb 29 2016, 06:59 PM

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QUOTE(MR_alien @ Feb 29 2016, 05:32 PM)
1st time buying commercial property here
want to ask whats the average interest rate would be these days for the mortgage loan
*
Dear Mr_alien,

1. For the rate, it will based on your loan amount that you are borrowing.

<RM500K 4.65-4.8%
RM500K-RM750K 4.6-4.75%
RM750K - 1.5MIL 4.4-4.6%

It's around the range, but could be lower, as most of the rate could be lowered. If your profile is very good, the rate can be appealed and lowered.
Madgeniusfigo
post Feb 29 2016, 07:00 PM

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QUOTE(maru @ Feb 29 2016, 03:17 PM)
anyone is SC banker ?
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Dear Maru, biggrin.gif

1. Yes, anything that I could help and assist you regarding SC policy or guideline?
Madgeniusfigo
post Feb 29 2016, 07:03 PM

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QUOTE(yunbo @ Feb 29 2016, 12:04 PM)
Hi all,

My relative’s loan got rejected few years ago because the developer is blacklisted by the banks… may I know any factors related to the property that might lead to the loan being rejected?

I plan to purchase a property in the next few months, and a bit daunting hearing some negative cases. Hope sifu here can share & shed some advice

I'm sorry if this was asked & answered previously
*
Dear yunbo,

1. There's lots of factors for bank to reject financing.

a. bad area
b. developer insolvent
c. hill slope
d. near graveyard
etc etc

2. Before placing any booking form fees or downpayment., you can request banker to help you check whether certain area able to finance the property or project.

3. after you getting the green light, only then you secure the housing loan, then only you pay for the downpayment.

4. Nothing to worry, if you have done all the prep and homework. If you need any assistant in this, just give me a friendly call 016-868-1373
Madgeniusfigo
post Feb 29 2016, 07:33 PM

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QUOTE(lifebalance @ Feb 29 2016, 07:59 PM)
I would also like to reiterate that taking a refinancing with normal bank will calculate based on 10 years DSR whereas AIA will provide up to 35 years calculation which will ease your approval for refinancing. Feel free to contact me via whatsapp or call to find out more.
*
Very misleading.
lifebalance
post Feb 29 2016, 07:34 PM

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QUOTE(Madgeniusfigo @ Feb 29 2016, 07:33 PM)
Very misleading.
*
Kindly elaborate & justify on proof

This post has been edited by lifebalance: Feb 29 2016, 07:35 PM
teanu
post Feb 29 2016, 08:42 PM

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Hi guys, i have a quick question on the loan margin eligibility by banks/msia law.

Previously, my parents had bought properties under the joint name of me and my brother. They had applied loans for these. There was a total of 2 properties but the first one have been sold already.

The question is if i decide to buy my own property now. Am i subjected to the 70% loan margin? Or am i still eligible for the 90% one since the 1st property was sold?


Thanks.
cclay
post Feb 29 2016, 08:46 PM

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QUOTE(Madgeniusfigo @ Feb 29 2016, 06:45 PM)
Dear cclay,

1. the ccris update has changed to around 10-11th date for updating.
*
Noted. Thanks! smile.gif
cclay
post Feb 29 2016, 08:50 PM

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QUOTE(Jasoncat @ Feb 29 2016, 01:15 AM)
Latest by 10th of every month the banks need to submit their month end loan position to BNM.  The 15th deadline was a thing in the past for quite long.
*
Noted. Thanks, bro! smile.gif
cclay
post Feb 29 2016, 08:51 PM

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QUOTE(lifebalance @ Feb 29 2016, 01:00 AM)
Some say it's 11th, some say 15th, I stick with 15th until further confirmation.
*
Thanks! smile.gif
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