Dear Lucifah,

Great, hope it helps

Dear,

The imminent difference between those two package is Conventional vs islamic loan.

There's underlying difference between this 2, lets dissect it.

1. Islamic loan, you are required to pay extra 20% on the legal loan because for islamic loan, you are required to sign few more extra documentation, hence it translate into higher stamp duty fees.

2. islamic loan nowadays, most of the banks offered BBA instead of musyarakah mustanaqisah. BBA follows traditional loan structure whereby Letter offer will show total payment including interest, hence you will see a massive amount stated in your letter offer. However, there's ceiling rate 9.99% for your loan. Then what if you settle your loan earlier, what happen to the stated total payment amount stated in my letter offer? How much rebate will I received at the end? Letter offer doesn't state clearly the calculation for the rebate, hence it is quite vague.

For musyarakah mustanaqisah, it follow according the conventional loan struture.

3. Islamic loan offered by most of the banks are sermi flexi only, only Alliance banks offer full flexi islamic loan.



4. Not all islamic loan offered by bank are lock in period waived, RHB has 3 years lock in period for their islamic loan. Weird but facts.

5. In the end, islamic loan do offered a better alternative package, but with 20% in stamp duty cost, and the offered package isn't standard across banks. Hence, you have to be aware.

This post has been edited by Madgeniusfigo: Jan 14 2016, 11:50 PM

My bad, typo. On Legal loan not stamp duty
Stamp duty 20% off, Not many bank provide 20% off anymore.

This post has been edited by Madgeniusfigo: Jan 15 2016, 01:41 AM

Dear Charlz,

For rental income, different bank have different way of validating it, however, I will teach you few fundamental steps to strengthen your rental validation.

1. Make sure your tenancy agreement is stamped.

2. Make sure every month the rental fees are bank in to you consistently for at least 3 months.

3. Best is 6 months bank in consistently.

4. More secured is by paying tax for rental income too.


For OCBC, you just need no.1 then your tenancy income is verified,

For Ambank, no.1 and no.2

for the rest of the banks no.1 no.2 no.3 or no.4

Dear,

1. BBA is an old product.

2. Seller won't pay for your stamp duty or legal fees. You are the one who are going to pay for that fees.

3. Islamic loan is good in a way, OCBC does provide a comprehensive islamic loan with good deal, however, the rate for OCBC nowadays is terrible. Al raji have a good package too but the loan approval is terrible.

4. RHB islamic loan is MM, however it has 3 years lock in period.

5. However, if you are ok with semi flexi, and opt for no lock in period. Islamic loan is an alright package.

Dear,

LHDN department to stamped and verify the tenancy agreement.

Dear,

Just follow the below table charges.

Dear sukabasa,

1. With your income and no debt, you definitely can afford a RM780K property. Your max loan eligibility is RM1,000,000. However, without any debt or commitment will reduce your credit scoring badly, as bank couldn't analyse your debt payment patter or they don't understand you at all. Mostly bank would reject applicants with clear CCRIS.

2. Most of the banks would slash margin when it comes to malaysian working at singapore.

3. However, clean ccris with high saving income shown in bank statement or have value assets under you would help improve your credit scoring.

My solution is,

a. stick with OCBC bank, they highly welcome malaysian working at singapore
b. If you have strong income saving in bank, or you have shares, FD, unit trust, do provide me the document, as this will improve your credit scoring aka increase loan approval chances.

I don't promise you with loan approval.

Dear,

1. bank had already poured in admin cost, agent commission and etc etc... Hence, by cancelling the deal, after signing letter offer. You will be charge a penalty fees of RM1000-RM5000 (depends on the bank)

2. The penalty cost is stipulated in your Letter offer, read it up.

Dear, to answer this.

1. Yes and NO.

2. Bank rules and regulation says that, only family members only able to become joint borrower. (spouse, parents, siblings, in law). STANDARD ACROSS banks

3. However, non closed family member, Yes it can be done. But it isn't appropriate for me to write it here! haha





3rd party is as above.



Dear, as stated, it can be done but in a non legal way.

Dear

Yes, Ocbc have flexi loan.

1. Ocbc is the only one with pure 3rd party loan.

2. If you need help just ring my number , I don't charge for residential loan.

Dear,

what's your loan amount that you gonna refinance?

Dear,

1. Your max loan eligibility is RM630,000 for HLBB. The rest loan eligibile for different bank do look at right bottom section yellow highlight.

It is approximately RM700K property price max.

2. 90% loan eligibility is possible, however I need to look at your CCRIS, CTOS and income doc beforehand.

Dear

Dear kwaick,

For the loan amount you stated Rm400k

Legal loan fees will be around Rm4000-RM8000
Valuation will be Rm800-Rm1000

Dear setia82,

1. Give you 2 rate scenario

a)
-35 years loan tenure
-4.5% rate
-460k loan

Monthly installment would be RM2176.98

b)
-35 years loan tenure
-4.5% rate
-460k loan

Monthly installment would be RM2162.76


2.

Gross income at least RM4000, without commitment and debt.


3.
Loan agreement total cost could be RM9000-RM12,000

Dear, sorry for the late reply.


1. You sure it is zero moving cost?

Your banker mislead you, this isn't zero moving cost. This means lock in period 3 years, if refinance within 3years will pay penalty of 2%.

IF refinance after 3 years, no penalty charges.


*Note* Ambank doesn't have zero moving cost.
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1. It is a good offer.

2. The best would be 4.35%, however, 4.38% consider good.

3. If you are employee, semi flexi would suit you. However, if you constantly have huge cash flow in and out, full flexi would be good.

4. MRTA will never be the best protection option, however, since you have already included it, just take it.

Dear Philyong,

Morning.

I could help you with the home loan process, submission, analysis and so on. However, you have the right to chose, should you take my service. I will briefly explain how my service works.

1. My company is the panel for Ambanks, HLBB, RHB, MBB, HSBC, AFFIN, OCBC, PBB, CIMB and UOB. I don't charge you for residential loan as we get the commission from the bank. However, I will assist you from zero to one. I will analyze your profile, help you do some adjustment on it and select the right banks that suits your objectives and criteria.

Moreover, I won't force you to take any products and rest assure, no surprises from my side. I will make sure I explained comprehensively on the products you chosen and make sure you have every idea in what you are doing.

I will analyze your profile, meet you up and explain everything aka educating then I will help you submit while monitor throughout the process. I have a league of team (Lawyer, valuer, admin) that will support your loan success.

2. If you are looking for low rates, I will recommend you to take ambank, rhb and uob. Other banks do provide low rate but are very subjective depending on your profile, too many surprises. IMHO, the tide has turn,MBB will be the one that are very subjective in giving you the rate, MBB approval is hard and the rates given is terrible. Reason is their mortgage portfolio has reach the ceiling and they are reducing investment in mortgage loan.

3. If you still have any inquiries, feel free to ask

Dear,

Usually, some bank need some process to retrieve your bank statement.
I leave this detail to RHB banker to explain to you.

However, If you wanted to apply for housing loan, bank statement is one of the many document for you to tally your pay slips income.

1. You can just alt + Print from your online bank statement to get a good picture of your bank statement transaction history.

2. Or you can just tally your payslips income with your EPF.

Your banker should know tricks to hasten your document procurement for him/her to submit loan.

When problems occur, we can opt to swim alternative route across it.

Dear

If you are using Maybank2u, the trick is simple.

1. View your transaction history, Click CTRL+P, change it save as PDF. walaa, you have a beautiful PDF bank statement.

2. If your salary is non fixed, need 3 months, if it is variable, differ by months, 6 months is needed.