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Mortgage Loan Package Inquiries, (Strictly NO Promotion Allowed)
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lifebalance
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 Jan 11 2016, 05:37 PM
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QUOTE(ZiyiIsmyIdol @ Jan 11 2016, 05:25 PM) Dear Gurus, I am looking to secure a home loan, which is my first property. The developer Sime Darby don't have agent selling hence i need to look for my ownself for banker to finance. Contacted one of contact given, was told need to pay RM50 for CCRIS check? Is this true? My details as follow: 1. Income RM7.4k (take home after deductions is RM6.1k) 2. Car loan repayment RM1020 monthly 3. Credit card debt RM14,000 4. Plan to use EPF for first home, Acc 2 around RM40k Property: 1. Price is RM830,000 2. After developer discounts is RM745,000 Would I be able to secure this amount of loan? Any help greatly appreciated. Hi bro, ur loan include 10% + 40k or this 40k is inside the 10% ? If it's 10% + 40k then your loan just can pass, if it's the other way round then sorry ... very hard to pass, commitment too high. CCRIS u have to go bank negara to print for FREE This post has been edited by lifebalance: Jan 11 2016, 05:50 PM |
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lifebalance
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Jan 11 2016, 05:52 PM
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QUOTE(ZiyiIsmyIdol @ Jan 11 2016, 05:49 PM) Hi Keith, I don't really understand the 10%+40k / 40k inside 10%? Any way to reduce my commitments just by lowering my CC outstanding amount? That means usually you pay 10% downpayment for the property, this 40k is used in this 10% payment ? That means 10% of 745000 = 670,500 RM745,000 - 670,500 = 74,500, you're using the 40k in this 74,500 right ? It will be good if you can use some money to offset the credit card outstanding balance. |
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lifebalance
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Jan 11 2016, 06:22 PM
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QUOTE(ZiyiIsmyIdol @ Jan 11 2016, 06:00 PM) Just found my note back from  Unit price is RM828,800 Developer discount is 5% and RM30,000 (so total discount is rm41,440 + rm30,000 = RM71,440 Price after discount is RM757,360 I need to pay rm5,000 as booking fees. So, the 90% loan, is it 90% of RM828,800 or is it 90% of RM757,360? How much CC outstanding balance should I clear? 2-3k enough? 90% of rm757k Cc balance I think if you leave it outstanding 2 to 3k should be fine. Best if don't owe a cent If you can reduce it then can pass loan already |
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lifebalance
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Jan 11 2016, 11:19 PM
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QUOTE(Corrupted Spirits @ Jan 11 2016, 11:08 PM) Hi guys, I would like to know the amount bank can offer for housing loan based on my income. Gross Salary RM 2440 1 month bonus every year Car Loan RM 425 Insurance RM 200 PTPTN RM 250 Credit Card Outstanding RM 3000 Partner Income Gross Salary RM 2669 Non-fix allowance RM 300+ Contractual Bonus 2 months 2015 bonus 1.5 months 2014 bonus 1 month Car Loan RM 550 PTPTN RM 350 Insurance RM 240 Personal Loan RM 450 Credit Card Outstanding RM 2000 If 2 of us would like to apply for First House Scheme (100% loan), what is the maximum amount we can get? Thanks in advance! About RM250k - RM390k, to be safe, try to get around 300k, going 390k would stretch the DSR very tight. This post has been edited by lifebalance: Jan 11 2016, 11:20 PM |
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lifebalance
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Jan 12 2016, 09:15 AM
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QUOTE(Corrupted Spirits @ Jan 12 2016, 06:29 AM) Hi, thanks for the advice. If we clear our credit card balance and also personal loan, would we be able to get 400k loan? I do have a FD amounting 85k (joint name with mum) as well Hi, 400k loan can do if you settle off the CC and PL. Feel free to contact me. Keith |
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lifebalance
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Jan 12 2016, 05:54 PM
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QUOTE(kusyah @ Jan 12 2016, 05:35 PM) Dear Madgeniusfigo If I have 2 existing mortgage loan and would like to remortgage 3rd property which is free from encumbrances, is it also MOF 70% only? If yes, is there any other possible way to get MOF 90%? unless u fully settle either 1 of ur first or 2nd property only can. |
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lifebalance
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Jan 13 2016, 09:54 AM
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QUOTE(ask_dino @ Jan 13 2016, 09:48 AM) Hi madgeniusfigo or anybody that can help, I would like to know the amount bank can offer for my 2nd property housing loan based on my income and my wife Gross Salary RM 5200 2015 bonus about about 4 month 1st house loan RM500k (under my name) Credit Card Outstanding RM 3000 Personal loan RM307 left Partner Income Gross Salary RM 3700 PTPTN RM10k Personal loan RM15k What is the max value of house that we can get? Thanks in advance! What's your monthly installment for 1st house loan 500k and PTPTN 10k outstanding monthly paying how much ? Personal loan RM15k monthly paying how much ? Personal loan RM307 monthly how much ? If need faster result can call me or leave me ur contact |
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lifebalance
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Jan 13 2016, 12:21 PM
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QUOTE(ask_dino @ Jan 13 2016, 11:24 AM) Updated info on my post as follows: Gross Salary RM 5200 2015 bonus about about 4 month 1st house loan RM500k (under my name) will be paying RM2.3k per month (currently paying interest as house undercon) Credit Card Outstanding RM 3000 (target to pay full by Feb or March) Partner (Wife) Income Gross Salary RM 3700 PTPTN RM10k paying RM200 per month Personal loan RM15k paying RM280 per month Can buy up to 660k |
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lifebalance
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Jan 13 2016, 01:06 PM
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QUOTE(kwaick @ Jan 13 2016, 12:41 PM) Thanks! any lower interest?? 4.99% ia the lowest now and it's fixed rate unlike other banks like hsbc is base on fluctuating rate so the interest rate will increase indefinitely. Cash out financing is based on 35 years as opposed to 10 years bank calculations You'll have peace of mind on the interest rate. This post has been edited by lifebalance: Jan 13 2016, 01:10 PM |
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lifebalance
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Jan 13 2016, 05:00 PM
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QUOTE(squall1987 @ Jan 13 2016, 01:15 PM) Dear Madgeniusfigo, How to finance legal into loan amount for sub sales? How bank disburse money to lawyer? As far as i know there will be two layer, SnP lawyer and Loan document lawyer? I am a bit confuse here? As for your example, if 5% x Rm 400 k loan = 20k. if 20k is more than enough for legal fee, how bank may give back the extra to us? there won't be extra, they will give extra 5%, if it doesn't exceed then there is no extra loan amount given, the 5% is just a buffer |
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lifebalance
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Jan 13 2016, 05:02 PM
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QUOTE(squall1987 @ Jan 13 2016, 04:51 PM) Hi, May i know for property price at RM 560 K what will be the estimated SnP + Loan legal fee and all stamp duty? SPA about 15k Loan about 7k |
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lifebalance
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Jan 13 2016, 05:03 PM
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QUOTE(jeff85@ @ Jan 13 2016, 02:25 PM) Hi Guys, I wish to refinance my mortgage loan. Currently I own 2 houses (2 mortgage is OCBC and UOB). I wish to refinance my first house to margin 90%. Is it possible? Any banker can make it margin 90% on refinance mortgage pls pm me. My favorite bank as below: -OCBC -Maybank -Public Thanks. The remortgage will depend on ur salary, commitment and credit background, will need to study ur background first to answer u accurately |
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lifebalance
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Jan 15 2016, 12:13 AM
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QUOTE(putra23 @ Jan 14 2016, 03:14 PM) What is the difference between Maybank Islamic loan and Maybank MaxiHome loan? I'm told the effective rate is the same. There is no lock-in period for Islamic but 3 years for conventional. If so, why would people choose Maxihome over Islamic? There are higher fees being charged in the legal fees, about 20% more. |
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lifebalance
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Jan 16 2016, 02:12 PM
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QUOTE(kusyah @ Jan 15 2016, 07:58 PM) Suprisingly I got MOF 90% for remortgage the 3rd house. I do not know why, but I just keep quite la, don't want to create unnecessary issue :-). Monday will sign the offer letter. Becareful if it's the mistake of the bank to release that money after they have discovered such error. They will demand you to return back the extra financing for not disclosing such error. |
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lifebalance
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Jan 18 2016, 05:15 PM
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QUOTE(charlz @ Jan 18 2016, 04:15 PM) Can someone advise how is the best way to prove to bank that I collect rental income from my property without having a holding Sdn. Bhd. company? Say I have a second property under my own name and I collect rental from it. I would like to use the rental income to help me secure another loan for another property. I am already a salaried employee paying income tax. Hence, will the rental income be taxed as well? Thanks! you don't have to have a company under your name to claim that rental income. You just need standard tenancy agreement and make sure the rental income is more than 3 months. Then make sure rental income goes to your bank account monthly and use the 3 months bank statement as proof of rental income. Then you'll be able to use the rental in the loan application as extra income. |
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lifebalance
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Jan 18 2016, 05:24 PM
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QUOTE(charlz @ Jan 18 2016, 05:13 PM) Stamped by who? Thanks for the feedback. Stamp by LHDN |
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lifebalance
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Jan 18 2016, 05:34 PM
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QUOTE(charlz @ Jan 18 2016, 05:31 PM) My rental income is RM1,700 any idea how much is the LHDN stamping fee? 1 year around RM72, 2/3 years around RM144 |
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lifebalance
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Jan 18 2016, 09:37 PM
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QUOTE(sukabasa @ Jan 18 2016, 08:07 PM) hi, work at sg salary sgd 3000 and without any commitment/debt now. May I know easy to get 600k house loan or not? Property price 780k thank you No problem for 600k loan at all. repament is about 2.8k with plenty to spare. Remember to have atleast some bank facilities like credit card though you work in SG. |
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lifebalance
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Jan 19 2016, 05:29 PM
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QUOTE(vigossan @ Jan 19 2016, 05:23 PM) question. is it possible for me to make joint loan with non-family person(e.g : friends)? which bank allow it? yes you may, it's considered 3rd party loan. |
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lifebalance
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Jan 19 2016, 05:57 PM
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QUOTE(vigossan @ Jan 19 2016, 05:50 PM) can you describe a bit what is 3rd party loan? the second name will still registered on ccris? insurance is 50/50 like normal joint loan? 3rd party means the person in SNP is not the same as the loan borrower. insurance can also 50/50 in joint loan. Second name will register into CCRIS. a 3rd party loan will be based on trust that neither one of the party should choose to "default" the loan otherwise either 1 of them will be in deep trouble to pay off the installment if they can't afford especially if there is no obligation like a deep relationship (family member) vs (friends). |
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