Dear,

No problem
Premier client did go as low as 4.3% rare case. Usually they are blessed with loan acceptance even though DSR burst 300% or more.

Dear,

The rate for loan lesser than Rm200,000

4.65%-4.8% is good enuf. low loan amount usually fetch terrible interest rate. However, 4.75% still a good offer.

Dear,

1. If you top up, it will add debt to your ccris, hence purchasing RM900k property will be affected as your DSR calculation will include top up amount.

2. to go zero down, you can use EPF account 2 cash to pay off the down payment 10%.

3. However, it seems you are working at oversea with RM20K income. Are you purchasing sub sales or underconstruction property? If undercon property, nowadays developer are quite creative in enticing buyer with 10% rebate, 20% 40% rebate. It's like purchasing property for free.
If you are aiming for undercon that give out rebate >10%, you'll be alike buying the property for free.

4. Top up to pay off the down payment isn't a bad idea at all, just remember there is charges legal fees on loan, stamp duty fees on loan and valuation fees.

Given market value RM600,000
You can top up max
RM600,000* 85%= RM510,000

RM510,000 - 185,000= RM325,000 (cash out)

Top up is a better choice if given your exisitng bank offer a decent rate. As top up saved on the legal/stamp duty fees on SPA.
If the rate is terrible, mind as well refinance to a better bank while cash out. Have to compare the rate and the cost incurred.

5. May I know which bank is your loan currently under?

Dear,

I am able to check the value for you.

1. Top up is cash out within the same bank. Refinance is transfer the whole loan from bank A to bank B

2. Charges for Top up loan (legal loan + stamp duty loan + Valuation)
Charges for Refinance (legal loan, + legal SPA + stamp duty loan + stamp duty SPA + Valuation)

3. Residential

If you have 1 mortgage loan, your top up is 90%
If you have 2 mortgage loan, your top up is 90%
If you have 3 mortgage loan, your top up is 70%

4. Refinance of your outstanding will be based on 35 years max, cash out amount will be based on 10 years. (Bank calcualtion for your DSR loan approval)

However, in actual fact, you will be paying cash out and refinance installment based on 35 years max.

5. You can't purchase Rm900k 90% margin of finance with your current income. However, you can max out refinance cash out with HLB.

Dear,

Yes, this is called pure 3rd party loan.



1. If SPA name A
Borrower name B

Only 1 bank can perform such financing. Only one in the market.

2. The answer is YES.

Dear,

1. The MRTA is purchase from the bank or from outsource insurance agency firm?

2. If you have already sign Letter offer, MRTA/MRTT doesn't approved, it won't affect your loan. Except if Mrta is bundle with loan for special rate offer, then it will be affected. Call and ask your banker, you will get accurate answer for this.

Dear squall1987

Cons for taking 3rd party loan.

Borrower A, SPA chargor B

1.
A's ccris will have the loan commitment
lets say A and B decided to share the installment, if B decided default on the installment
if A unable to pay full loan, if he also default, his record in CCRIS will be terrible.
B Ccris record will still be in good shape.

2. A's ccris will have the debt, in future to apply for loan, he needs higher income.

3rd party loan is give and take la. Need trust. Hence, bank rules is Family members only allowed for such 3rd party financing.

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

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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

Dear call me random ,

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%

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

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.

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

Dear levey226,

1. Did you receive bonus on 2014?

2. Bank doesn't look at your share amount, there will only look at your shares dividend received as income calculation. Do give me your shares dividend receive

3. My calculation will based on your max hire purchase payment. It will be different, as bank has their own internal formula for it.

4. Based on my calculation, Yes there is way for you to purchase RM300,000 property. You are eligible, however, it will be best to give you assurance after I have check your CCRIS, CTOS and Income documentation first.

5. Mortgage consultant have to know all different banks policy in order to analyse comprehensively and holisticly. The accuracy of this loan analysis calculation is 99%. Hence, you are at good hand.



This post has been edited by Madgeniusfigo: Jan 8 2016, 04:05 PM

Dear,

1. With both net income RM6500, debt car Rm500. to get loan for RM598,000 property wouldn't be a problem. However, I need to look through you CCRIS, CTOS and income documents first.

2. I would advice you to put standard 10% downpayment for the housing property, and put the remaining (RM150,000-RM59,800)=RM90,200 into capital loan account instead of paying off right away. Your RM90,200 in capital account, you can reduce the interest same as you put RM150,000 to pay off your property. Moreover, you will be able to access you RM90,200 during emergency.

3. Loan 90% RM598,000 = RM538,200 /4.5%/35 years. Installment will be around RM2547/MONTH

4. Loan RM448,000 (Pay RM150K off) 4.5%/ 35years. Installment will be around RM2120/MONTH

5. Other charges include, legal loan fees, legal SPA fees, stamp duty loan fees, stamp duty spa fees. Total will be estimation range of RM20-30K.


If you need my service or help, don't be shy to contact me.



This post has been edited by Madgeniusfigo: Jan 11 2016, 12:35 AM

Dear,

1. This is the fees that they allow you to finance into loan, so that you could pay it off monthly.

2. For RM324K, the legal fees will be around RM10-20K

3. Legal fees are based on tier calculation on your loan amount.

Dear Chanlman,

1. Current market, there's few banks still offering good rate, UOB, AFFIN, RHB and Ambank. For the loan amount Rm400k. However, it really based on your profile income and debt commitment only I can suggest you with the right bank to finance with.

2. If you go through me, MRTA isn't compulsory, it is optionable. I would never force client in taking any deal that there aren't well informed and understood.

3. Yes, legal fees cost that I stated is just the ceiling cost, it can be negotiated.

4. If you need help, just contact me. I don't charge client on residential financing, so don't worry, I give my humble and holistic suggestion for the best packages.

Dear Progamer,

1. Based on your income Rm5000, I overstate your installment for housing loan and car loan. With this, your max loan eligibility is RM400,000

2. To be more accurate with my analysis, could you give me the actual credit limit (initial borrowed amount from bank) for housing loan and car loan?

3. If you plan to get loan of Rm400k and below for 2nd property with 90%, yes there's chances. However, before promising you moon and the sky, I would need to look through your ccris, ctos and income documentation before giving you my assurance.

4. My analysis is comprehensive and are within banks DSR guideline, you can look at bottom right section yellow highlight for max loan eligibility for each bank. Do becareful with someone overstating your loan max.

Dear ice-green-tea,

Q1. Yes and NO, some bank would only give financing when developer receive ADPL, some bank allows financing without ADPL. It really depends on the bank it self.

Q2. Now, we are based on base rate. Rate + spread = effective lending rate.

The safest measure is get the lowest spread rate as spread rate is fixed throughout loan tenure.

Bank nowadays are quite cunning, one month offering awesome base rate, next day, they will raise the base rate. Hence, you think you get the best rate but in actual fact it is a gimmick. What I recommend here is, go for the lowest spread rate, best service and packages. Rate are deemed to increase later on if economy plunge. Don't be surprised when your 4.4% rate became 4.5% in course of few months.

Q3. YES, you will get fined and penalty, because you need to compensate banks admin cost in structuring your financing. Penalty will go as low as RM2000 and as high as Rm10k. depends on the bank itself stated in your letter offer. Don't play play

Dear soulknight,

Just my 2cent. If you ever need help in financing your property, don't hesitate to contact me. I give my best service to you! haha