regarding the mortgage loan, if loan release till 70% only, i gotta pay the interest 1st? The house by right should be ready in Dec'20, but they delay it to Mar'21 due to CMCO in Oct'20. Then MCO started in Jan'21 =.="

Related question: Can I request the bank to start my monthly instalment repayment without the loan being fully disbursed so I don't waste money on progressive interests?

Hello,

Hope this is the right place to ask his >_>

I have a home loan from Public Bank for a new property development. Initially I was told I'll receive a letter when I should start repayment for the home loan.

Recently I received a letter from the developers stating that the first phase of the development is complete and 10% of the payment is expected.
I believe the payment for this would be released by the bank (contacted the lawyer but still waiting for a call back).

I'm not sure if I'm suppose to start with the repayment already, since I didn't receive any letter from the bank so far.

Thank you. One more question, PB replied need another joint name to approve my name and my banker said can get 2.9%.
Im in a dilemma on thinking should I go this route to secure a 0.1% lower rate but sacrifice my wife quota?
Any sifu advice is much appreciated! 

Hi all, let's say my net salary around RM1340, how much loan amount can borrow

yeah a little bit   Just want to know how much that i can borrow :confused:

Interesting. I wonder why. What type of fixed rate are they charging for AIA now anyway (rough estimate)? Seems like it'd be good to lock down a rate while OPR is at record lows?

Question on joint name loan scenario

Husband already max DSR, no more quota
Wife low DSR, can easily get 1.5m loan

If wife alone can get the loan, instead intentionally joint loan with husband so that the Ccris commitment become halved, allowing the wife more DSR quota in future to buy another house

Does this work?

Tq

Hi sifu's and guys, first house buyer here 🐭

Need some advice on first house loan

Info:
*RMM house sell at 104k by scientex
*loan provider only public bank and maybank
*public bank islamic loan approved while maybank stilk on process
*this RMM house is not much left(hot sale)

Loan:
*public bank islamic
*loan approved 90%
*loan amount rm100 460 inclusive Mrtt
*interest rate 3.4%
*monthly payment rm410

Question :
1. Is the loan rate is normal? Can be category as lowest rate?
2. Can i apply to withdraw kwsp/epf for 10% downpayment?
3. Any other advice regarding buying first house and loan?

Appreciate your kindness sharing, thank you 🙏🏻💸💸🐒

for no 2, the time limit to withdraw for 10% deposit is within 3 years or have to be done earlier?

Hello guys, is it normal for bank to reject loan application if employment less than 2 years? In my case, it’s only 5 months of employment.

Thanks for helping, Victorian!

Unfortunately yes, it’s my first job as before this covid period, I just work as freelancer.

So joint name is the only way to secure the loan right? Guarantor wouldn’t work as well?

Is it compulsory to include the joint borrower name in the property name as well? Thanks in advanced for helping

Would it be advised to submit loan application to other banks at the same time?

One of the banker had rejected to process the loan and mentioned the reason of less than two years of employment.

I’m wondering if I get my family member to be my joint borrower, any pro and cons out of this aspect?

Thanks again in advanced

Hello experts,
Currently i have one housing loan under OCBC
rate:3.15% (loan amount 270k balance)

I am planning to refinance to cash out money and change to better rate package
Market value: 400-430k
is possible to get loan 90% with new interest rate 2.9 with MRTA or 3.0% without MRTA?

personal details
27 years old, single
3.6k montly salary
supporting document: FD 20k, 30k in share market,RM700 montly rental income
commitment: ptptn 39k, current housing loan 270k

Any good services banker can be introduced ?

Hi sifus, if I want to upgrade my house (buying a second house under construction) while still paying installments for the first house, does it help if I tell the bank I will sell the first house once I move into the new house?
assuming my salary can only afford one house to stay within the DSR limit.

or must I sell my current house first then only I can go for a loan for a second house?

I am buying a first house scheme

Facility amount : RM 270,000
MRTA : RM 12,987
Tenure : 35 Yrs
Margin of Finance : 100%
Interest rate : 3.3%
Monthly instalment amount : RM 1,138
Facility amount : RM 270,000
MRTA : RM 8,540
Tenure : 35 Yrs
Margin of Finance : 90%
Interest rate : 3.15%

I ask the mortgate agent they say my house loan too low so interest rate is higher. is it true? as i thought i could get 3% interest rate at 100% loan for first home buyer

Hi sifu, can help me decide which loan to accept.

Got approval by 4 bank but I shortlist 2 as only this 2 offer 100%.
why is mrtt price too much difference or is it normal?

Bank A:

SPA : RM 250,000
MRTT : RM 11,235 (cover for 35+2years construction)
Total Facility : RM 261,235
Tenure : 35 Yrs
Interest rate : 3.20%
Monthly instalment amount : RM 1,035

Bank B:

SPA : RM 250,000
MRTT : RM 8,800
Total Facility : RM 258,800
Tenure : 35 Yrs
Interest rate : 3.15%
Monthly instalment amount : RM 1,018
what is contracted profit rate & why does it make selling price so high, what does it mean?
[attachmentid=10962059]
Thanks in advance

hi guys, can 2 brothers joint loan to buy a house but only 1 brother name in the SPA?

Got quote from pbb this week

360k
2.9% for 33years
Insurance mlta 6k (cover 360k full for 10 years)

Not great but good enough for me.

Dear forumers,

Good day to all. I have a very technical question in mind. Recently I’ve just got my housing loan approved with few banks. Below are some of the details:-

Bank A:
BR (2.27) + spread (0.58) = 2.85%

Bank B:
BR (2.63) + spread (0.22) = 2.85%

Question:

Assuming everything in the offer is the same, it seems like the interest rates are equal. However, due to the revised Reference Rate Framework which will take effect by 1 Aug 2022, which will replace the current BR with a standardized SBR across all banks, shall we take into consideration the difference in the current spread ie. 0.58 against 0.22 into our decision making process?

I will leave the link to BNM’s revised Reference Rate Framework here for your references.
https://www.bnm.gov.my/documents/20124/9380...uide_RRF_EN.pdf

Just in case the link doesn’t work, can just do a quick search via google.

Important note:
It states very clearly that BR and BLR loans taken prior to 1 Aug 2022 will continue to be priced against the BR and BLR until the loan is fully repaid. HOWEVER, it also states that at the end of the day, the BR and BLR will all move EXACTLY IN TANDEM WITH THE OPR (where the SBR is tied to). Refer to the illustration provided in the link.

Which also means all BR and BLR quoted currently will continue to be termed the same, BUT it will follow suit against the newly quoted SBR. On a side note, it also mentioned that banks are not allowed to simply vary the spread above the SBR during the entire loan tenure, unless there is a change in your credit risk profile ie. if you fail to service your loan on time.

Hence, does that mean the offer from Bank B is a safer bet given the circumstances?

Feel free to discuss.