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Mortgage Loan Package Inquiries, (Strictly NO Promotion Allowed)
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pwf
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 Jun 30 2015, 10:10 PM
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Good day all,
I would like to to ask for advice on loan eligibility.
My details:
Age: 38
Gross annual income: SGD36K (About RM97K)
Credit card oustanding: RM50K (payment about RM3.5K/monthly)
Property details:
Type: Condo
Purchase price: RM300,000
I only intend to borrow only RM200,000
Currently the condo is on construction, I already pay almost RM100K.
This will be my first housing loan. I intend to take the longest loan period.
Would like to know if there is any other alternative.
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pwf
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Jun 30 2015, 10:29 PM
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Thank you. The credit card is from Malaysia bank. I will consider getting higher loan to offset the CC balance if possible. The important is that I need to get the RM200K loan. QUOTE(wild_card_my @ Jun 30 2015, 10:25 PM) Is the credit card taken from a Malaysian or Singaporean bank? If it is with a SG bank, we can exclude it from the calculation, hence allowing you to get a better loan. Alternatives to the plan, I suggest getting as much loan as possible at 90% or so and use the rebate (that you may be getting from the developer) to offset your CC balance that may incur a higher interest that the housing loan. But all said and done, here is the calculation for a 32-year loan tenure:  |
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pwf
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Jun 30 2015, 10:30 PM
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Nope, actually I have sign s&p for the condo. Its currently already on third payment. All 3 payment is paid for in cash together with my parent help. QUOTE(ims2628 @ Jun 30 2015, 10:26 PM) Ok no problem it's within dsr guideline  but you means this property is on construction? And previously you're dealing with developer for monthly installment? |
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