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 Mortgage Loan Package Inquiries, (Strictly NO Promotion Allowed)

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Madgeniusfigo
post Mar 13 2016, 07:40 PM

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QUOTE(xin @ Mar 13 2016, 04:42 PM)
I have a question, lets say i take a 90% loan amount of 500k and approved full flexi. And should i put in an extra 300k into the said loan account. It will reduce my interest right ? As so it means my montly installment will reduce am i right ? How do i calculate this ?
*
Dear Xin,

1. 90% Rm500k loan amount approved full flexi.

Credit extra Rm300k into the account.


2016 April
-loan approved RM500K, 4.5% interest.
- interest will be charge based on the RM500K loan through out loan tenure.
-installment payment estimate RM2500 (RM1500 interst + RM1000 capital)

2017 April
- loan outstanding balance is RM480k
-decided to credit RM300K into the full flexi account
-RM 480K-RM300K = RM180K
-interest 4.5% will charge based on the RM180K.
-installment payment estimate RM2500 (RM500 interst + RM2000 capital)

2. You will be paying more towards the capital and less to the interest. Hence saving more on the interest payment.

3. Monthly installment will stay the same.
Pink@pple
post Mar 14 2016, 09:54 AM

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Hi all, i am a new user here. I am planning to purchase a 2nd house and would like to check on my max loan eligibility. Could some experts here help me pls?

1.Borrower
a. age - 33
b. no. of borrower - 1
c. 1 existing housing loan

2. Income (borrower)
a. RM6300
b. Bonus contractual (1 mth) - RM6300 (divide into 12 mths added into monthly pay)

3. Debt / commitment (borrower)
a. Hire purchase loan - Individual
i. Borrowed amount - RM96K
ii. Current outstanding amount - RM80k
iii. Monthly installment - RM891

b. Housing loan- Individual
i. Borrowed amount - RM300K
ii. Monthly installment - RM1420

c. Credit card - No outstanding

4. Background (borrower)
a. Occupation - Assistant Manager
b. currently staying with parents

Thanks in advance. biggrin.gif
lifebalance
post Mar 14 2016, 10:00 AM

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QUOTE(Pink@pple @ Mar 14 2016, 09:54 AM)
Hi all, i am a new user here. I am planning to purchase a 2nd house and would like to check on my max loan eligibility. Could some experts here help me pls?

1.Borrower
a. age - 33
b. no. of borrower - 1
c. 1 existing housing loan

2. Income (borrower)
a. RM6300
b. Bonus contractual (1 mth) - RM6300 (divide into 12 mths added into monthly pay)

3. Debt / commitment (borrower)
a. Hire purchase loan - Individual
    i. Borrowed amount - RM96K
    ii. Current outstanding amount - RM80k
    iii. Monthly installment - RM891

b. Housing loan- Individual
    i. Borrowed amount - RM300K
    ii. Monthly installment - RM1420

c. Credit card - No outstanding

4. Background (borrower)
a. Occupation - Assistant Manager
b. currently staying with parents

Thanks in advance.  biggrin.gif
*
Hi,

Your nett income include bonus is about 5632

For your max loan eligibility, it would be around 520k loan amount, purchase price around 580k

Feel free to contact me further for any discussion.
Pink@pple
post Mar 14 2016, 10:12 AM

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QUOTE(lifebalance @ Mar 14 2016, 10:00 AM)
Hi,

Your nett income include bonus is about 5632

For your max loan eligibility, it would be around 520k loan amount, purchase price around 580k

Feel free to contact me further for any discussion.
*
Thanks for the prompt reply.
So, with all my current commitments taken into consideration, i am still eligible to get a loan for properties around 580K?

rclxms.gif
lifebalance
post Mar 14 2016, 10:14 AM

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QUOTE(Pink@pple @ Mar 14 2016, 10:12 AM)
Thanks for the prompt reply.
So, with all my current commitments taken into consideration, i am still eligible to get a loan for properties around 580K?

rclxms.gif
*
Yeap, 580k will be very max already. So maybe get around 570k to be safe.
S'aimer
post Mar 14 2016, 10:36 AM

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Dear Bro Madgeniusfigo,

Thank you for the information. Most appreciated! notworthy.gif


QUOTE(Madgeniusfigo @ Mar 13 2016, 08:26 PM)
Dear Sáimer,

1. If you need to have a full description of your MLTA, i can provide you.

2. The difference would be as below, laymen terms:

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

*
simisai
post Mar 14 2016, 10:39 AM

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.

This post has been edited by simisai: May 20 2016, 02:15 PM
lifebalance
post Mar 14 2016, 10:51 AM

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QUOTE(simisai @ Mar 14 2016, 10:39 AM)
Hi,

Seeing how prices have dropped in certain area, i am currently interested in buying a subsale unit. I have never owned a house before, but i do have some loans (personal loan, hire purchase) as well as outstanding credit cards. I am currently in my mid 30s, making around 80k per year (gross, excluding bonuses which range from around 1 to 4 months).

I was wondering what's the possibility of getting a 90% loan and if there's a max loan eligibility for me? Thank you.
*
Hi

You will need to provide these info for me

Gross pay
Nett pay
Rental
ASB
Bonus 2 years total

Commitment
House monthly
Car monthly
Credit Card outstanding
Personal Loan
PTPTN

Feel free to PM me the info if you need privacy.
tplus1
post Mar 14 2016, 01:54 PM

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Hi, I am curious about the scheme rumah pertamaku.
I am certainly eligible for it, but how do i apply for it? there is only limited info on the website.

By having around 40k as downpayment and the rumah pertamaku scheme, what is my expected loan? lets say if I only want to commit around 1k per month.

Been doing a lot of homework lately.. Will be a great help if sifus can answer my questions!
lifebalance
post Mar 14 2016, 01:59 PM

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Joined: Nov 2014
QUOTE(tplus1 @ Mar 14 2016, 01:54 PM)
Hi, I am curious about the scheme rumah pertamaku.
I am certainly eligible for it, but how do i apply for it? there is only limited info on the website.

By having around 40k as downpayment and the rumah pertamaku scheme, what is my expected loan? lets say if I only want to commit around 1k per month.

Been doing a lot of homework lately.. Will be a great help if sifus can answer my questions!
*
Banks to banks have different criteria but most of them must have these in place

Eligibility

Individuals aged 18 years to 40 years only
Malaysian citizen only
First time home buyer only
Single borrower/customer gross income not exceeding RM5,000/month
Joint obligors gross household income not exceeding RM10,000/month (based on gross maximum income of RM5,000/month per obligor)
Payment amount must not be more than 1/3 of monthly income
Business owners/directors/partners/sole-proprietorship are not allowed
Property value from RM100,000 - RM500,000

In order to assess how much you can afford, will need you to provide me these info.

Gross pay
Nett pay
Rental
ASB
Bonus 2 years total

Commitment
House monthly
Car monthly
Credit Card outstanding
Personal Loan
PTPTN

Assuming if you want to only pay for 1000 installment. Assuming 35 years loan with 4.5% interest. Your loan amount will be RM210k or purchase price at RM234k
propusers
post Mar 14 2016, 03:26 PM

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let say I am having a joint loan with 1 sibling at Alliance Bank now. Monthly installment 1K.

planning to apply my own house loan.
when calculate DSR, Alliance Bank will take 1K or 500 as my commitment?
If I apply loan from other banks, other bank will take 1K or 500 as my commitment?

This post has been edited by propusers: Mar 14 2016, 03:27 PM
lifebalance
post Mar 14 2016, 03:28 PM

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QUOTE(propusers @ Mar 14 2016, 03:26 PM)
let say I am having a joint loan with 1 sibling at Alliance Bank now. Monthly installment 1K.

planning to apply my own house loan.
when calculate DSR, Alliance Bank will take 1K or 500 as my commitment?
If I apply loan from other banks, other bank will take 1K or 500 as my commitment?
*
Some banks will take your commitment as 100% which is RM1000, some will look at it as RM500.

I will sort out for you which are the banks that does such things.

Meanwhile if you need any assessment on how much loan you are eligible, you can let me know again.
Madgeniusfigo
post Mar 14 2016, 03:47 PM

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Senior Member
1,451 posts

Joined: Oct 2014
From: Kuala Lumpur
QUOTE(Pink@pple @ Mar 14 2016, 10:54 AM)
Hi all, i am a new user here. I am planning to purchase a 2nd house and would like to check on my max loan eligibility. Could some experts here help me pls?

1.Borrower
a. age - 33
b. no. of borrower - 1
c. 1 existing housing loan

2. Income (borrower)
a. RM6300
b. Bonus contractual (1 mth) - RM6300 (divide into 12 mths added into monthly pay)

3. Debt / commitment (borrower)
a. Hire purchase loan - Individual
    i. Borrowed amount - RM96K
    ii. Current outstanding amount - RM80k
    iii. Monthly installment - RM891

b. Housing loan- Individual
    i. Borrowed amount - RM300K
    ii. Monthly installment - RM1420

c. Credit card - No outstanding

4. Background (borrower)
a. Occupation - Assistant Manager
b. currently staying with parents

Thanks in advance.  biggrin.gif
*
Dear Pink,

1. Thanks for following my format of writing down the details, very concise and I can accurately analyze your details.

2. You mean the contractual bonus RM6300 had already added into your gross income RM6300?

3. However, based on your information. Your max loan eligibility is RM328,000 for HLBB. the rest of the banks do look at right bottom corner yellow highlight.

4. Based on your information, 90% shouldn't be a problem, however, I would need to look at your CCRIS, CTOS and income documentation before giving you any assurance

5. Do becareful of other overstating your max loan eligibility. rolleyes.gif

user posted image
Madgeniusfigo
post Mar 14 2016, 03:47 PM

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Joined: Oct 2014
From: Kuala Lumpur
QUOTE(S'aimer @ Mar 14 2016, 11:36 AM)
Dear Bro Madgeniusfigo,

Thank you for the information. Most appreciated! notworthy.gif
*
Dear

Hope that it helps! biggrin.gif biggrin.gif
Madgeniusfigo
post Mar 14 2016, 03:48 PM

Regular
******
Senior Member
1,451 posts

Joined: Oct 2014
From: Kuala Lumpur
QUOTE(simisai @ Mar 14 2016, 11:39 AM)
Hi,

Seeing how prices have dropped in certain area, i am currently interested in buying a subsale unit. I have never owned a house before, but i do have some loans (personal loan, hire purchase) as well as outstanding credit cards. I am currently in my mid 30s, making around 80k per year (gross, excluding bonuses which range from around 1 to 4 months).

I was wondering what's the possibility of getting a 90% loan and if there's a max loan eligibility for me? Thank you.
*
Dear simisai,

In order for me to accurately analyze your max loan eligibility, do provide me with below details:

CODE
1.Borrower
a.age
b. No. of borrowers
c. no. of housing loan

2. Income (borrower)
a. Gross salary
A:
B:
b.Variable income for business (6months latest)
"1.
2.
3.
4.
5.
6."
c. OT
d. Fixed allowance
e. Variable Allowance (6months latest)
"1.
2.
3.
4.
5.
6."
f. Bonus contractual (1 year bonus amount)
g. Bonus performance (2 years bonus amount)
h. 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."
i. ASB ( 2 years total DIV)
j. Shares dividend
k. Fixed deposit

4. Debt / commitment (borrower) "joint or indiv"
a. Hire purchase loan (Borrowed amount)*
b. Housing loan (Borrowed amount) (Joint or indiv)
c. Personal loan (Credit limit)
d. PTPTN (credit limit)
e. Credit card (Outstanding/usage)
f. ASB loan ( credit limit)
g. Overdraft ( Credit limit)

4. Background (borrower)
a. Occupation
b. age
c. currently staying at?

5. Property
a. purchase price
b. subsales or underconstruction
c. freehold or leasehold
d. 1 borrower or joint borrower
e. Strata title or master title
Madgeniusfigo
post Mar 14 2016, 03:50 PM

Regular
******
Senior Member
1,451 posts

Joined: Oct 2014
From: Kuala Lumpur
QUOTE(tplus1 @ Mar 14 2016, 02:54 PM)
Hi, I am curious about the scheme rumah pertamaku.
I am certainly eligible for it, but how do i apply for it? there is only limited info on the website.

By having around 40k as downpayment and the rumah pertamaku scheme, what is my expected loan? lets say if I only want to commit around 1k per month.

Been doing a lot of homework lately.. Will be a great help if sifus can answer my questions!
*
Dear,

1. This scheme you have to hit certain criteria

a. Rm5k-10k income based on whether you are joint borrow or indiv borrower

b. prop should range between 100k-500k

c. Your DSR shouldn't exceed 60%

2. I would help you to calculate your profile whether you are eligible for this scheme, do provide me with below details:

CODE
1.Borrower
a.age
b. No. of borrowers
c. no. of housing loan

2. Income (borrower)
a. Gross salary
A:
B:
b.Variable income for business (6months latest)
"1.
2.
3.
4.
5.
6."
c. OT
d. Fixed allowance
e. Variable Allowance (6months latest)
"1.
2.
3.
4.
5.
6."
f. Bonus contractual (1 year bonus amount)
g. Bonus performance (2 years bonus amount)
h. 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."
i. ASB ( 2 years total DIV)
j. Shares dividend
k. Fixed deposit

4. Debt / commitment (borrower) "joint or indiv"
a. Hire purchase loan (Borrowed amount)*
b. Housing loan (Borrowed amount) (Joint or indiv)
c. Personal loan (Credit limit)
d. PTPTN (credit limit)
e. Credit card (Outstanding/usage)
f. ASB loan ( credit limit)
g. Overdraft ( Credit limit)

4. Background (borrower)
a. Occupation
b. age
c. currently staying at?

5. Property
a. purchase price
b. subsales or underconstruction
c. freehold or leasehold
d. 1 borrower or joint borrower
e. Strata title or master title
Madgeniusfigo
post Mar 14 2016, 03:51 PM

Regular
******
Senior Member
1,451 posts

Joined: Oct 2014
From: Kuala Lumpur
QUOTE(propusers @ Mar 14 2016, 04:26 PM)
let say I am having a joint loan with 1 sibling at Alliance Bank now. Monthly installment 1K.

planning to apply my own house loan.
when calculate DSR, Alliance Bank will take 1K or 500 as my commitment?
If I apply loan from other banks, other bank will take 1K or 500 as my commitment?
*
Dear propusers,

1. Bank would usually calculate debt based on your borrowed amount. Lets say the RM1K installment housliang loan borrowed is RM200K joint name.

Banks would calculate your debt based on RM100K instead of RM200K, because it's joint name.

It's the same throughout every banks.
Pink@pple
post Mar 15 2016, 08:49 AM

New Member
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Junior Member
10 posts

Joined: Mar 2016
QUOTE(Madgeniusfigo @ Mar 14 2016, 03:47 PM)
Dear Pink,

1. Thanks for following my format of writing down the details, very concise and I can accurately analyze your details.

2. You mean the contractual bonus RM6300 had already added into your gross income RM6300?

3. However, based on your information. Your max loan eligibility is RM328,000 for HLBB. the rest of the banks do look at right bottom corner yellow highlight.

4. Based on your information, 90% shouldn't be a problem, however, I would need to look at your CCRIS, CTOS and income documentation before giving you any assurance

5. Do becareful of other overstating your max loan eligibility. rolleyes.gif 

http://i.pictr.com/y4vxc2a2t7.png 
*
Hi Madgeniusfigo,

The gross income RM6300 stated earlier has not been added with my contractual bonus yet. Every month my total salary amount is RM6825 (RM6300 + RM525 (1/12 of my contractual bonus)) before minus EPF & other deductions.

I also noticed that i made a mistake, the borrow amount for my car loan is actually RM78K (RM96K is added with 9 yrs interest). doh.gif

Just a question, how come in your calculation table, the debt & commitment for my housing loan & car loan amount is much higher than what im actually paying now (Housing loan - RM1420; Car loan - RM891)?

With that amount, after deducting it with my nett income, the balance will become a lot lesser.

Based on your analysis, except for HLBB (RM328,000), the result for other banks doesn't look positive at all. Infact, even at RM328,000 range it's actually quite difficult to get a property in KL/PJ area too.. sweat.gif cry.gif


This post has been edited by Pink@pple: Mar 15 2016, 09:04 AM
lifebalance
post Mar 15 2016, 09:02 AM

Licensed Financial Planner & Financial Adviser's Rep.
********
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10,162 posts

Joined: Nov 2014
QUOTE(Pink@pple @ Mar 15 2016, 08:49 AM)
Hi Madgeniusfigo,
Thanks for the info.
The gross income RM6300 stated earlier has not been added with my contractual bonus yet. Every month my total salary amount is RM6825 (RM6300 + RM525 (1/12 of my contractual bonus)) before minus EPF & other deductions.
Just a question, how come in your calculation table, the debts & commitment for housing loan & car loan amount is much higher than what im actually paying now (Housing loan - RM1420; Car loan - RM891) ? With the amount, after deducting it with my nett income, the balance will become a lot lesser.
Hmm...based on your analysis, except for HLBB (RM328,000), the result for other banks doesn't look positive at all. Infact, even at RM328,000 range it's difficult to get a property in KL/PJ area too..  sweat.gif    cry.gif
*
Dear Pink@pple,

Please becareful of certain advisors giving wrong info and accusing others of doing it. As I've stated earlier, your loan eligibility 520k maximum.

However I'll suggest to take a loan somewhere about 510k. Keep some buffer for things like insurance and legal fees.
cybpsych
post Mar 15 2016, 09:05 AM

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Joined: Jan 2003
QUOTE(Madgeniusfigo @ Mar 13 2016, 07:26 PM)
Dear Sáimer,

1. If you need to have a full description of your MLTA, i can provide you.

2. The difference would be as below, laymen terms:

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

*
tumpang question.

if MLTA is beneficial to buyer, what's the benefits of MRTA then?

for MLTA, death/tpd benefit, how much do my spouse/nominee receives? if the prop is joint name (me+spouse), the spouse can get death/tpd benefit from MTLA?
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