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Mortgage Loan Package Inquiries, (Strictly NO Promotion Allowed)
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ClessRV
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  Apr 5 2016, 01:27 PM
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I have some questions regarding house loan,
My name is not in the S&P, but during refinancing, my parents put my name together with the loan as the first name (I think this is a third party loan?), is it still consider my first house?
and can I do a new loan for that house that will have a new S&P with my name on it? (like I'm buying over the house)
Thank you.
Got this from another thread:
SPA = A,B,C
Borrower = A,B,C
1st party charge
SPA = A,B,C
Borrower = A,C
3rd party charge
SPA = A,B,C
Borrower = D
3rd Party Charge
but I think my situation is like this:
SPA = B,C
Borrower = A,B,C
3rd Party Charge?
This post has been edited by ClessRV: Apr 5 2016, 01:34 PM
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ClessRV
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Apr 5 2016, 01:45 PM
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QUOTE(lifebalance @ Apr 5 2016, 01:35 PM) Hi Since your name didn't appear in the spa and Title charged to the bank. You can still entitle to get your rebate for your first property for stamp duty. Thanks for the respond, I am trying to buy over the house, and the current market price is around RM400k-RM450k, is it possible to make a full loan (or 90%) and cover all the previous loan? Given that if I am eligible, will the previous loan affect my application? |
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ClessRV
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Apr 5 2016, 03:38 PM
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QUOTE(lifebalance @ Apr 5 2016, 01:51 PM) You will be affected in the loan side since you share the commitment in this existing property you refinanced under 3 person name. Banks will perceive you share 1/3 of the commitment. Please let me know these details to check on your eligibility Age - 31Gross pay - RM4.9kNett pay - RM4.4kRental - None ASB - RM60kBonus 2 years total - RM2k? (Gov)Commitment monthly House - RM1050Car - None (Settle) Personal loan - RM568/m (RM48k outs) Credit Card (outstanding) - RM11k (but can be settle using my personal loan, still have some leftover) PTPTN - None (Settle) |
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ClessRV
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Apr 5 2016, 04:49 PM
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QUOTE(lifebalance @ Apr 5 2016, 03:49 PM) Age - 31 Gross pay - RM4.9k Nett pay - RM4.4k Rental - None ASB - RM60k Bonus 2 years total - RM2k? (Gov) Commitment monthly House - RM1050 Car - None (Settle) Personal loan - RM568/m (RM48k outs) Credit Card (outstanding) - RM11k (but can be settle using my personal loan, still have some leftover) PTPTN - None (Settle) Assuming your housng loan under 3 ppl is 1050, each will be RM350. CC is about 550 per month. Total commitment is about 1468 per month ASB 7% is about 4200 per year or 350 per month. If you don't settle off your credit card. Your loan amount you can borrow is RM480k or purchase price 530k Should you pay off your 11k credit card debt, you can loan up to 590k or purchase price 650k. Feel free to whatsapp your details  Thank you very much, I assume that you are based on the AIA loan? |
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