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 Mortgage Loan Package Inquiries, (Strictly NO Promotion Allowed)

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dvinez
post Oct 5 2015, 03:58 PM

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QUOTE(rainderain @ Oct 5 2015, 12:09 PM)
Dear All,

I got a question..Lets say my loan tenure is 35 years ,monthly is around rm900,I pay 1500 every month for the instalment and the differences of rm 600 ,do i need to inform my bankers to allocate it under my principal?what is the disadvantage if i din inform?
*
mine currently with RHB Islamic loan not sure which package
if want to pay more need to inform, and increment per RM1K basis
dvinez
post Oct 5 2015, 05:06 PM

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need some advice notworthy.gif

lets say if i am to purchase a property slightly above my reach
no problem for loan approval, but more on disposal income/expenses later

can still i pump in downpayment after purchase completed?
i possible i can sell off my other house later lower down the monthly installment, i dont want to risk my current lifestyle

thank you
dvinez
post Oct 6 2015, 09:04 AM

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QUOTE(Madgeniusfigo @ Oct 5 2015, 08:31 PM)
QUOTE
(dvinez @ Oct 5 2015, 06:06 PM)
need some advice notworthy.gif

lets say if i am to purchase a property slightly above my reach
no problem for loan approval, but more on disposal income/expenses later

??
If you say slightly above your reach, means that you couldn't afford that property installment. How will you be eligible for the loan approval? hmm.gif

Bank DSR highest for Rm3000 above income bracket is 85%.


can still i pump in downpayment after purchase completed?
if possible i can sell off my other house later lower down the monthly installment, i dont want to risk my current lifestyle

thank you


You need to pay down payment when you sign S&P.
Or
You mark up the price, if it is subsales, if you get a higher value for your property, but you will still need to pay downpayment when you sign S&P.
*
seriously did u read it?
i have no problem on loan approval, i just dont want to sacrifice my current living standard
i am just wondering after everything settled, can i still pump in lump sump to lower down the installment hmm.gif
dvinez
post Apr 1 2016, 12:36 PM

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QUOTE(lifebalance @ Mar 13 2016, 03:49 PM)
Assuming your loan is 35 years. Your installment should be 2366 if the interest rate is 4.5%

Putting 300k into the account would effectively means that your interest payable would reduce lower. A higher portion of your monthly installment from the 2366 per month will be used to pay on your principle rather than on the bank interest.

But you'll still be paying the rm2366 every month. Just that your loan tenure will be effectively reduced.

Before 300k
2366
491 goes to principle, 1875 goes to interest

After 300k
2366
1620 goes to principle, 746 goes to interest.

Effectively, you have reduced your loan by roughly 306+- months
*
Hi Keith,

As above case, is it possible to lower down monthly installment by pump in 300K instead of reducing the loan tenure? notworthy.gif
dvinez
post Apr 22 2016, 05:51 PM

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QUOTE(Madgeniusfigo @ Apr 22 2016, 02:46 PM)
QUOTE(lifebalance @ Apr 22 2016, 03:03 PM)

Need some advice regarding refinance/topup. notworthy.gif

EG:

Bought - 200K
Current Price - 500K
Loan Left - 100K


If refinance, my loan amount can go up to 500K. Or lower if I want.
Lets say I refinance it at 500K, total loan is now 500K and monthly installment will increase. I will get 400K cash from it.

Lets say I intend to take the 400K and dump it into another property.

1) After that can I sell off my property at 500K later and clear the loan?

2) If I do not sell the property, which will be cheaper?
a) property installment after refinance + property installment with huge downpayment from refinance
b) current installment + new property installment

3) Is it a good way to get another property? Or better using own cash.

Thank you so much in advance. thumbsup.gif



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