Yesterday i just book a new house launching using my name(abu) with rm2000 booking fee.
Everything when fine up until now. But suddenly i question myself.
I gonna used my wife(siti) loan(goverment loan).
so the question here is, is it ok?? Booked under abu name but used siti's loan.
The house obvioisly under her name.

Please clarify for me. Really need to know this ok or not..

i already open a thread but i think better ask here as this is loan specific thread.
hope somebody can answer me.

Hi,

Would like to know how banks assess credit scoring for home loan applicants?

If let say, I want to buy a property that is under construction, to be completed end of 2016:

- I have car loans that eat 16% into my NET income
- I have personal loans that eat 15% into my NET income but the tenures are ending by this year 2015.
- I have a 1st housing loan that takes 9% from my NET income
- I have outstanding credit card debts that totals almost the same as my monthly net income. I projected the outstanding balance will be settled this year 2015 based on my historical trend of repayments.

So my concern is, will bank consider to approve my application and will they factor my commitments that will end this year? Will bank consider that by next year, I will have so much room for the housing loan?

Thanks a lot!

Helloooo,

Thinking of buying a property in the range of RM1mil - RM1.5mil, combined loan.

Me and my hubs gross salary = RM14,400
2 Car loans (me and my hubs) = RM2k
House loan (me) = RM900
Insurance = RM200

Would like to know maximum loan amount we can stretch to apply that financier can easily approve?

Thanks guys

Its not that I disagree with cdspins but there is a difference between being able to qualify for a Loan to buy a house and able to keep up with the monthly instalments and maintain a minimum standard of living and also have some savings.

What is your other household expenses and what can you able to save right now. Assume that you can’t rent out the current house and want to keep it, can you afford 2-Loan instalments.

Also, bear in mind, what is your current take home pay. With a gross salary each of say RM7,000 a month, your EPF deduction is about RM770 and tax is about RM450 per month, so your take home pay is only about RM5,780 * 2 = RM11,560 per mth – 2K for Car Loan – RM900 Housing Loan = RM8,660 – RM200 for Insurance = RM8,460, say RM8000 per mth

Then how much you spend on Food, petrol, house maintenance.  Easily between RM2K to RM3K per mth right?

So, you have left between RM5,000 to RM6,000 per mth in surplus cash.  Is this correct

If you take a RM1 mln Housing Loan at say 4.60% for 35-yrs, the monthly instalment is RM4,800 per mth

If you shorten the tenure to 30-years, the instalment is about RM5,130 per mth

Remember, its about maintenance of the Loan, not qualifying for it which is more important

I used the calculator below

http://www.cimbbank.com.my/en/personal/pro...s/homeloan.html

KWSP of cz got partially, but still lack of..
let say my hse is 400k, still lack some before reach 40k (10% deposit).
no other way to loan 100%?
i saw website got some info about skim rumah pertama.
not sure is applicable or not, anybody applying before?

sorry ya.
how to calculate dsr?

hi, can we apply for the loan first then find a house to buy later? i'm planning to buy a second-hand house.

public bank told me if apply home loan without mrta, interest rate lowest will b 4.60.. is it true? Worth to buy mrta with 3.5k for 5 yrs to get lower interest rate? she cant guarantee how much lower the rate for buying mrta..

Proven if just wanna get lower interest rate, mrta is not reslly necessary..i got approval with 4.35% without mrta..

But then can i just check, if we buy mrta for 5 yrs, it only cover for 5 yrs rite? Its not covered for whole loan tenure rite? Unless we buy for whole loan tenure?

I would like to add, that with MRTA 5 years, or any tenure that is shorter than the full loan tenure, the coverage will not even be full if something happens to the persons covered. Refer to the image below. If a borrower takes an MRTA for 5 years coverage, and happens to pass-away at year 4 of the loan, the MRTA will only cover a limited portion of the loan (RM230,000 in this example), and the rest have to be settled by the beneficiary or the house will need to be sold.

For those who want to know more about the difference between MRTA vs MLTA are welcome to take a look here: http://imgur.com/a/C4dAj




Not necessarily. In my experience the sales agent would want avoid that clause, and for the more expensive properties, full refunds of booking fees can be rather rare. Always make sure everything is black and white before committing.

Dear sifu, need advise regarding my first loan disbursement

My loan not yet able to disburse and causeing late payment(I think developer will penalty me)

Story:
1. Check with loan lawyer the status on 06 July, lawyer feedback will issue loan advise letter to bank

2. Check with Loan lawyer the status on 13 July, lawyer feedback advise letter sent to bank on 07 Jul, pending bank payment.
Call banker and lawyer to get latest update,

1. Loan officer help me check in their system show my loan pending latest land search from lawyer firm - 21 July

2. Lawyer feedback they not aware the bank officer request for latest bank search. I get the lawyer to contact to bank on this matter.- 21 July

Call to lawyer again today - 22 July
1. Lawyer feedback to me the bank officer just back from rAya holiday and had check with her. Below are the reason given by the lawyer.

a) bank officer update remark in system pending land search and go Raya holiday.

b) lawyer claim that their system not reflect to the latest status set by bank officer. There is system inconsistent issue(they use same system) and they not aware bank require new land search untill I told them.

Question:
In this case, who fault isit that causing me late payment? What can I do?

Can I argue and get waive in late payment?

For 2,
Coz for semi-flexi we will open an savings acc for the loan, and the money put in the savings will automatically offset the interest in daily basis. is n't it that way ? or any technical term i should use for that particular savings acc.

how long normally ambank take to reply to a loan interest appeal? ambank is really inefficient... oredi waited for more than 3 weeks for loan approval, now asked the agent to appeal for better interest, the agent is not replying me when i will get a reply.. and my time to sign for s&P due soon..... wish they r more considerate and work harder to improve their work efficiency..it makes a whole lots of diff to their customers.... from counter processing to loan matter, they r slow like toitoise... they have nv failed to make me feel angry with their inefficiency every time i attended to their bank or deal with their agent...

what the developer told me is that they must get the money before i sign snp, hence I need to sign loan offer letter, then only bank send documents to lawyer and after all the legal documentation only developer will get money from bank... no?? she told me penalty is full amount of the house price divide by 365 times 10% per dy... so depends on how many dys delay..this project developer is first time developer, possible they do things differently?
felt bad abt keeping pbb waiting and asking her to hold the app when its possible i may not even take their loan..

Ic..its oredi under construction even before it was launched...still checking with the bank developer how things work...its very confusing...
Can i just ask, if bank unable to disburse money on time, possible i can pay for the money by cash first? Since im actually just taking 80% loan..bank won cover for the full amount anyway...

Hi, I would like to ask for advice on loan eligibility.

My details:

Age: 29
Monthly income : Not fixed (around RM8k)
Loan commitment : No


Property details :-
Selling price : RM556,000

Thank you.

i want to ask how about if add joint name?the join person salary net income rm17xx but previously got loan car (already settle) & now is still loan another house (joint name)

what is the acceptable DSR by banks? 50%-70%?

Hi

I need your guys opinion. I in the midst of purchasing my second house which cost 800k ( superlink ). My loan had been approve.Due to current economy situation, should i proceed with this purchase or hold until our economy recover.

- my first house ( apartment ) due to complete feb next year. Monthly payment around 1700

- if i proceed with second house purchase, it will be for my own stay. I will sell/rent first house. First house Located  at shah alam near tesco/aeon.

- second house monthly installment is around 4000. My concern is, if i cant gent people to rent/buy the first house. Its under leasehold/bumilot status ( hard to sell i think )

- i dont think i can pay both house ( assuming no ppl want to rent first house )

Should i proceed or hold first.

Thanks. Too bad, need wait longer for second purchase then. By the time got enough salary, the house price may gone up again...