hi guys, can u guys share wat current rate of loan nowadays ?

last year i got 4.3% for 300k total loan.
this year i got 5.25% for 150K total loan.

i know the rate will be higher if the loan amount is smaller, but i think the rate is quite high.

that rate is before the BLR increase last year, after that i got 4.55%.

4.3 for 300k with mrta, this rate i got before the BLR increase and change to BR.

after BLR increase, now it increase to 4.55%. fyi, this is my 1st housing loan and 2nd loan. my 1st loan is asb, so i dont hv much commitment.

this year i want to buy another house. but offered 5.25% for 150k, which i think very high. this is from cimb. other bank still pending approval.

guys, want check with u.
i hv received LO( letter of offer) from 1 bank, others still pending approval and 1 of the bank just approved today. i want to compare all banks 1st before accept the offer.

there is 14 day validity of this LO, if already exceed it , then mean the offer no longer valid ? how if i want to accept that loan but its already exceed the validity date?

ok, i just checked with the LO,
CIMB - 14 days from the date of the letter
maybank - 14days from date of approval( i just got the sms from maybank today, didnt received yet the LO

here just my 2cent please correct me if im wrong.

1. no loan commitment, mean quite hard for bank to trust ur financial since ur record so 'clean' and no record on ccris. so i suggest u take credit card and use it for fuel, groceries and make sure pay full amount every month. this will appear on ur ccris with good record

2. income not fixed, if u run ur own business and not fixed salary person, normally bank want to some proof of ur income eg bank statement they require for 6 months. make sure the record is good.

loan eligibility with 8k salary for 556k, i think should be no problem.

use this web loan calculator instead, much better tools

http://loanstreet.com.my/calculator/home-l...cost-calculator

i just want to share me experience.
1. i take 100% first house scheme for own stay because i can save up the 10% for my next purchase.
i spend around 5% from house price for legal fee. the total monthly is lil bit high side, but at least i still have some money left because i dont need to pay 10%.

2. since i have some money left from my 1st purchase, i purchase another house for investment, this time i need to pay 10% for downpayment + 5% for legal fee. the ROI from this house should able to cover my 1st house high installment, even just lil bit.

This post has been edited by megahertz: Aug 31 2015, 01:43 PM

if u still underprobation, quite hard for bank to approve. but if im not mistaken, gov will take 2 years to confirm rite?

get a credit card, pay for groceries fuel etc, pay full amount every month just to built ur credit record.
then wait untill u get confirmation, then only u apply.

@Andicom, just take note, even if u take skim rumah pertamaku, u still need cash for legal fee etc which roughly 5% from house price
house price = rm100k
10% downpayment = rm10k ( with agent, normally they asking 3% as booking fee 1st, 7% paid when sign S&P)
S&P & stamp duty legal fee = less than 3k ( normally u need pay urself, not include in the loan)
loan & stamp duty legal fee = less than 3k ( can request to include in the loan, depend on bank)
valuation fee = less than 1k ( can request to include in the loan, depend on bank)

u need cash around 5k at least. btw, last time i heard from banker quite hard to get this scheme, so please be careful if u failed to get this scheme, and get normal bank loan with MOF 90% instead, u need to prepare 10%.


to eligible to get this scheme, please refer here, i just took it from bank islam website:
“My First Home Scheme”
This scheme provides the financing facility for the purchase of residential property value RM100,000 up to RM500,000.
Financing tenure is up to 35 years or age 65, whichever is earlier.
Margin of financing is up to 100% against SPA/OMV, whichever is lower + 5% for MRTT and LTHT.
Eligibility criteria:
Malaysian citizen
Young adults, age not exceeding 40 years old
First time home buyer for owner occupation
Single customer’s income not exceeding RM5,000 per month and for joint customers, the combined monthly income must not exceed RM10,000* (*regardless single or joint applicants, the monthly income for respective individual customer must not exceed RM5,000)
Customer must be gainfully employed

for rough estimate, u need cash at least around 15% of ur house price if u able to get 90% loan.
10% for downpayment
5-6 % for S&P and loan legal fee, MOT,stamp duty etc, valuation fee

please note for some bank and for subsale, u can put the legal fee/loan stamp duty and valuation fee included in the total loan of 90% while u need to pay urself for 10% and S&P legal fee

last time i bought a house using this scheme from bank islam.
this is from the bank islam website: http://www.bankislam.com.my/en/Pages/BaitiHomeFinancing.aspx

“My First Home Scheme”
This scheme is to cater the purchase of residential property value RM100,00 up to RM400,000.
Financing tenure up to 35 years or age 65, whichever is earlier.
Margin of Financing Up to 100% against SPA/OMV, whichever is lower + 5% for MRTT and LTHT.


Eligibility criteria:
Malaysia citizen
Young adults, age not exceeding 35 years old
First time buyer for home occupied
Single customer income not exceeding RM5,000 per month and for joint customer income not exceeding RM10,000 per month
Customer must be gainfully employed

so to answer ur question, u should eligible for this loan.
for the legal fee, i only need to pay myself for S&P legal fee, loan legal fee, valuation. but for MRTT i put into the housing loan. this is depend on banks as diff bank might not allowed u to do this.
so basically i get financed 100% plus 5% for the MRTT.

This post has been edited by megahertz: Oct 22 2015, 02:34 PM

@diversity how to bank in the money? got any acc bank etc ?
and how about this Surat Pemberitahuan / Notification Letter ? where can i get it ?
quite confusing about the flow cos doesnt mentioned much in the website

hi guys, sorry if wrong topic, i need to find MRTT for my house loan.
prefer Etiqa, can any 1 here help me via pm ? thanks guys

hi guys, i got a question about refinancing.
here is my details

1st house - LTV100% - own name and loan only me
2nd house - LTV90% - joint name and loan with wife ( joint loan)
3rd house - LTV70% - joint name, but loan only me ( 3rd party loan)

so im thinking to do refinancing on 2nd house, still joint name but loan only under me,
here is my question
- how much LTV i will get for refinancing? izit 70% since now i hv 3 housing loan?. based on BNM guideline.
- i need to pay for new loan agreement and valuation fee rite ? snp still same.

thanks.

thanksfor answer.

the loan agreement should be no problem. the main problem is i need to topup cash to do refinancing

- bought on 2015 170k, 35years tenure.
- current outstanding 160k,
- total loan 163k. ( deposit 10%, zero moving package)
- current MV aroud 200k.

70% of 200k = rm140k, so i need to topup around 20k more just to clear my wife name on the loan.

is my calculation is correct ? then i hv no choice, need to wait for the MV going up.

all my props less than 3 years. and my reason to refinance on 2nd house is to clear my wife name on it, so that she will have LTV90 quota back.

yeah.

thanks all for answer.