approve rate of 80-85% for 90% loan? Isnt that good enough?

approve loan margin 80-85% sorry to confuse you.

I need to know how is the MDTA/MRTA refund done?

My loan has been fully settled/account closed. MRTA is for 10 years. Now is the 6th year.

Do i have to write in on my own to the insurance provider (ING) or will the bank do all this? Loan was under PB.

who do third party besides MBB UOB HSBC?

RHB

OCBC CIMB RHB PBB

Hi,

Would like to ask you guys opinion on both islamic loans below:

Bank A:
Lock in period: No
Interest rate: 4.55%
Tenure: 35 years
MRTA: RM900++ for 7 years ( the minimum one)
Margin of Financing: 80% (144k)
Processing fee: RM200, after GST charged it comes out to be RM212

Bank B:
Lock in period: 3 years
Interest rate: 4.70%
Tenure: 30 years
MRTA: RM700++ for 5 years ( the minimum one)
Margin of Financing: 100% (150k)
Processing fee: No

Which one is better?

This post has been edited by goolie: Jun 11 2015, 10:02 PM

Maybank HomeEquity-i
Features & Benefits

Based on the principle of Musharakah Mutanaqisah (diminishing partnership via leasing)
No compounding of profit and other charges
No early settlement charge/ lock-in period penalty
Competitive financing rates and margin of financing
Lower monthly instalment with the longer payment period of up to 35 years or until the age of 70, whichever comes first
Higher financing eligibility of up to 70% of your gross income*
Higher financing margin of up to 100% of the value of the house (including capitalisation of related expenses such as MRTT contribution)
MRTT coverage, which settles your outstanding mortgage and transfers the title deed to your family in the event of death or total and permanent disability
20% reduction on stamp duty for new financing & waiver of conversion from Conventional facility
Convenient payment options of your instalment via Maybank and Maybank Islamic branches, ATMs, Kawanku Phone Banking, and online via Maybank2u.com
Minimal documentation compared to other home financing plans

Basic Details:
Financial Type: Maybank Islamic Loan
Interest Rate: 4.55%
Tenture: 20 years
Loan Amount:260,000


Above details is my home loan plan and the benefits I grab it from Maybank website. A few queries to clarify here, hope some professional banker can help to answer:

1. From the benefits it stated that no early settlement charge/ lock-in period penalty, this is also what my banker told me when I was applying the loan. Just curios, I got a saving account which is tie to the loan, which mean every month the monthly installment will be deducted from the saving account lets said RM 1700. If I want to pay extra how should I do that? Can it be like bank transfer or have to go down to the Maybank to do it?

2. My loan package include the MRTT total around RM4000, lets said if I pay up my loan within 10 years, will this MRTT able to get some refund? Heard some home insurance was able to do so.

3. 20% reduction on stamp duty, where can I check do I entitled to this benefit? This was my first time applying home loan.

Hi everyone, need advice. RHB is offering 4.45% for 500k home loan but when I told them I not planning to get MRTA, they say they have to increase d rate to 4.5%! Can like that one ar? Any other banks that doesn't force u to get MRTA?

CIMB, I got the same rate 4.45% without MRTA recently.

Can try Maybank or ambank for better offer without mrta

i got MBB 4.40% for loan amount 400k, without MRTA, but last 2 mths la

to any agents, pls pm your package for Savanna Executive Suites and let me know which bank to do represent. wish to secure home loan asap.

guys, it capped for the 3rd house 70% of loan, but what if 1st house is residential and 2nd is commercial, does the 3rd residential house still 70%?

"If a person has 2 or more existing residential mortgage loans, LTV is capped at 70% for the next housing loan

Bank Negara does not impose a LTV cap on commercial property loans. However, it is more common to get only 85% margin of finance as banks are more cautious in financing commercial properties.

http://loanstreet.com.my/learning-centre/m...4w8I.dpuf"

First house is residential second property is commercial third property is residential bank will counted as 2nd residential.

aiyo..... why the bankers no tell me this..... thanks ya

Can someone detail the current Gov benefits for first time home owners in Malaysia? And what are your eligibility requirements?

Thanks

First house below 500k entitle stamp duty discount 50%.

Or skim rumah pertamaku for 100% loan below is the criteria

http://www.srp.com.my/en/criteria.html

any hong leong bankers here??

Had answer your question, hope can solve your doubt with your mortgage loan