Then don't buy it lo if it's going to cause you financial burden.

I'm not saying this to tease you but really please look into the overall financial management of yours and decide.

Guys,

Let say, gross salary rm6500/month
Car loan rm1200/month
No PL
No Mortgage

What is the loan eligibility?

Thanks

Hi

Based on your info

You should be eligible to about 570k for housing loan, feel free to let me know if you have any further questions

Will there be reduction of housing loan rate due to the decrease by BNM?

Good day Meonkutu11,

You max loan eligibility is RM 670,000 based on info given. However, in order for me to calculate more accurately, please provide me details as below.

Also, may i know if this property purchase falls into under construction or subsales. You will need to consider entry cost as well.

You will need to fork out for subsales

1. Valuation fees
2. Legal Loan fees
3 Legal SPA fees


1) Borrower

Age
No of borrowers
No of housing loan

2) Income

Basic pay
Fixed Allowance
Variable Allowance
OT
Bonus - contractual (1 year bonus amount)
Bonus - performance (2 years bonus amount)
Commission (latest 6 months comm slip calculated in average amount)

3. Supporting Document

Rental
ASB (2 years total DIV)
Shares/Dividend
Fixed Deposit

4. Monthly Commitment (Individual/Joint)

Housing loan
Hire Purchase loan 1200
Personal loan
PTPTN loan
Other Term loan such as Commercial Loan/ASB loan
Credit card
Overdraft


Cheers

Well, Maybank had reduced their Base rate from 3.20% to 3.00%. I suppose banks will take this opportunity to reduce their BR but increase their spread (aka Margin) in same time in order to maximize their profits. Just my 2 cents sahaja.

Yes mbb has decrease the interest rate from 3.2 to 3 but for new application no news yet

Dear,


1. Refinance isn't cheap!

2. So do opt for refinance with a clear objectives in mind, because the cost incurred is quite high.

Cheers

Dear

1. Based on the details given by you, Your max loan eligibility for each bank is as follow:
Rm
A*BANK 475,505.95
H*NG LE*NG 634,568.45
M*YBANK 475,505.95
*CBC 475,505.95
R*B 641,166.67
U*B 475,505.95
C*MB 528,526.79
AFF*N 559,047.62




2. The best bank to get the highest loan would be HLBB . However, each bank has it's own ball game
Different bank will calculate your income and debt accordingly based on each bank's different policy. Hence,
I would need to do a due diligence on your profile before suggesting the best bank to proceed with."

3. I would need to check you CCRIS, CTOS and income documentation before giving you any assurance.

If everything goes fine, 90% shouldn't be a problem for you."


4. It will be higher if you have

a. Bonus
b. Fixed deposit
c. Allowance or commission
d. Unit trust/ shares

Cheers

Dear,

1. Yes and No

2. Financial sector for housing loan practice Base rate. Bank has full autonomy whether to reduce their base rate according to OPR reduced. Hence if the bank decided to reduce their base rate like Maybank and ambank, the housing loan rate will decrease.

3. In succinct, it depends on the bank itself.

Cheers

Hi,

Im planning to purchase my 1st property for investment purpose but im not really clear on the eligibility as i heard some said 60% and others said 80% , hope u can help me on this.

My gross salary just RM3200
no other commitment and staying with parent.

Thks

Hi

Your eligibility to loan is 380k.

And you'll be eligible to get 50% discount on MOT for subsale property.

Feel free to let me know what other advise you need. Tq

Dear

1. Yes it's quite confusing as different bank has different dsr calculation

Some had 50% some 60,70,85

That's why you can see my calculation for different bank has different Max loan result.

2. Do you have at least credit card?

Please use multi quote function for 3 continous reply.

Ty.

Thanks Bro.

Thanks Bro.

Hi All,

I'm just thinking, is it actually possible to secure a loan first before having purchase order form? Because often times people submit their loans and then failed to secure a 90% loan hence gotta wait for booking refund which is really a lengthy process.. usually takes up to a month or more..

Normally you need booking form to submit for loan otherwise cannot as it serves as an intention to purchase.

This is a standard procedure

You can't get pre approve loan nowa days

I see, thanks! So to make sure can get the best deal, what do you recommend? Compile all the docs and submit to multiple banks? or look for a highly experience mortgage consultant?

Is up to your preference, you can submit to few banks to secure loan application. Alternatively, seek for an experienced mortgage consultant to guide your loan application, to let you understand the loan package and overall process.

If you need further assistance, I'm glad you to help you anytime.

Peace