Not really advisable to apply loan after accepting a new job as it will affect your scoring assessment. Plus bank will look into company establishment for more than 2 years.

As low as 2.90% regardless conventional or Islamic loan. Have you check your loan eligibility before going for bidding?

As long as bank able to verify you as permanent staff through phone call verification.


Different bank will have different product setup. Generally your installment will be fixed (unless any BR or spread changes by bank/BNM) however the allocation towards principals and interests will be different when you place in advance payment.

only dividends will be calculated as supporting income. The liquid asset value merely treated as your personal net worth, for reference only.

High Net Worth criteria
- total assets value (fixed assets + liquid assets) more than 1 mil

Nowadays bank prefer at least 70% liquid assets and 30% assets value (both property free from encumbrance or encumbered with bank still acceptable by bank)

What's the benefits of High Net Worth
- Boost DSR up to max 150%

Value derived from encumbered property
- (Current Value x Margin set by bank) - Current Outstanding = net asset value

Usually we will calculate the DSR base on net income instead of gross income, after some statutory deductions and some other commitments.

Savings will only be supporting document, not a booster for your additional income. Have you thought of lowering the margin or find a co borrower?

Congratulations to you.

Yes, by lowering the margin means you need to pay more deposit.

May I know the following

- Age
- Monthly commitment from FI
- any co borrower to joint in?
- Lowest margin to secure loan, 70%?

Not necessarily needed to show the 10% but is better to have. Because that would affect your scoring hence affect your final margin and interests rate.

Mostly, because most of banks will have to do year end closing of their audited reports. But you still can apply loan as BAU.

1. if our combined take home pay is around 13.5k, what's the likely range of interest that's "good"?
- best rate is 2.90%

2. is a full flexi loan better even with the higher interest rates?
- in general, yes

3. is it better to go direct with a bank to apply or through the realtor's "value added service" who will help gather from diff banks at no cost (but they earn commission from the banks)? not sure if this will skew their recommendation
- if they are professionals, why not letting them to try?

4. is it ok to apply for 3-4 banks and choose the best package? how will it affect my ccris?
- still acceptable, try not more than 5 banks, otherwise banks may deem it as multiple submissions which may affect your margins and effective rate

5. is it better to go with the bank's legal panel to sort out the loan, SPA and MOT paperwork, or i can get the same service for less outside the bank?
- you may choose bank's full panel or preferred panel as loan lawyer, as for SPA you may select any firm or bank's panel as well

6. MRTA vs MLTA - what's the better option? and is it cheaper to get it from a different source instead of the bank offering the loan?
- depends on your financial needs, MRTA usually not able to cover full loan amount hence it is advisable to take MLTA. However, some banks may impose compulsory MRTA as the bundled package for better rates.

7. while my wife has 0 commitments, i took up some cash advance promos from some of my credit cards which are converted into 12/18 month instalments earlier this year that pushed my DSR to around 50-60%, how will this affect the loan outcome? besides these cc commitments i only have one car loan.
- try not to fully utilize the credit card as banks may think that you spending card lavishly, in the event you are not able to repay bank will have the risk of NPL. Hence, try to retain your total card usage below 70% of total approved limit.


It helps in someway but not really significant. Not in terms of your DSR.

This post has been edited by ngph988: Dec 6 2020, 01:27 AM

Hmm, DSR within but net disposable income (NDI) failed, anyone to joint name or reduce loan amount?

DSR was calculated base on 35 years repayment at 3% effective rate.

Let's see what's the end results from bank.

MBB about 3.0% - 3.05%, CIMB always slightly higher, 3.05% -3.2%

either from bonus slip + bank statement + EPF statement or EA form

You can find loan calculator, click on amortization and you'll see the allocation for principal and interests payment.

Base on the latest income to calculate, need to know your monthly income and current age to determine your loan eligibility

max loan tenure is 25-30 years, best rate in town is about 3.1%

there are pros and cons, i usually advise client to get max margin in case they might liquidate for emergency usage.

cons are you always pay for higher installment.

PBB, best rate in town 2.9%, first and second property always entitle for 90% margin however subject to approval.

This post has been edited by ngph988: Dec 8 2020, 08:57 AM

[quote=faizal87,Dec 8 2020, 11:17 AM]
[quote=ngph988,Dec 5 2020, 06:12 PM]
Not necessarily needed to show the 10% but is better to have. Because that would affect your scoring hence affect your final margin and interests rate.

owh thank you
my agent said MBB need at least to have min 10k in the saving to process loan application.not sure it is true or not

[quote]

There's a clause in MBB offer letter stated to present 10k savings in MBB account, but it doesn't mention how long does the 10k to be retained in the account

This post has been edited by ngph988: Dec 8 2020, 11:43 AM

A. Yes
B. No, is consumer require to notify bank to cancel application.
C. escalate to higher management if necessary

For first and second property, max margin is up to 90% however alot of banks are tighten their policy hence refinance + cash out only 80% max.

Rate is subject to your risk assessment and loan amount as well

1. Need at least 6 months to monitor your credit behaviour

2. As long as your current active income is able to sustain your commitments then you should be eligible. However, bank will conduct searches on current company and evaluate your credibility aka scoring. Should scoring failed, your application will be fail as well.

What is your current age and your monthly commitment?

Are you looking for joint name or single name application, i would recommend joint name as the risk will be mitigate to another party.

best is you can show 10% of deposit to the bank.

Just call the bank and ask for the final amount for settlement. Upon settlement, you may engage lawyer for redemption of title and transfer ownership from bank's name to your name.

What is your age, so as your wife?

And also current occupation?

More than 3 residential properties will entitled max margin up to 70% only, hence you may need to prove the source of deposits.

Max loan eligibility is close to 2.5 mil for joint name, given 35 years repayment with EIR 3% per annum

Do note that loan margin will capped at max 70% as you have exceeds more than 3 residential loans.

1. Only applies to residential property (with HDA). 3rd residential properties and above only eligible for max 70% financing and no entry costs financing except MRTA
2. You may request to waive MRTA however subject to approval. The effective rate may revise to a higher rate.
3. Legal fee for both SPA and Loan follow scales as below :

First RM 500k : 1%
For the subsequent RM 500k : 0.8%
For the subsequent RM 2mil : 0.7%
For the subsequent RM 2mil : 0.6%
For the subsequent RM 2.5mil : 0.5%

On top of that, you might need to take consideration of the stamp duty fees for both SPA and loans + valuation fees + misc fees.

Do check your loan eligibility first before you start to apply loan

This post has been edited by ngph988: Dec 15 2020, 10:36 PM