I'm sure this has already been asked before...I've asked elsewhere but the answers I've received are mixed...is there any benefit to taking a joint loan vs an individual one?
Mortgage Loan Package Inquiries, (Strictly NO Promotion Allowed)
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 Feb 27 2015, 11:54 AM
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Feb 27 2015, 12:27 PM
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#2
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QUOTE(ims2628 @ Feb 27 2015, 12:04 PM) But in the future the when in term of counting DSR, even joint name the loan amount will be counted as one which is increase in term of commitment, and the third house loan margin slash from 90% to 70% as you mention Hmm, what do you mean by the loan amount will be counted as one. Also, is there any way of accurately knowing my loan eligibility? Have a chat with my bank officer?  |
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Feb 27 2015, 01:02 PM
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QUOTE(ims2628 @ Feb 27 2015, 12:42 PM) For example A and B bought a condo RM600k, monthly repayment is around RM2.7k I see, so in future A will find it more difficult to apply for more loans since the bank will calculate his commitment as 2.7k on this condo. What about B though? Is B just like sort of a guarantor since bank doesn't assign him any commitment?for DSR calculation the for A commitment for this unit is RM2.7k instead of 1.35k, previously can be calculate as 1.35k since its joint name but nowadays most bank count RM2.7k for commitment even for joint name. |
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Feb 27 2015, 01:06 PM
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#4
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QUOTE(Jasoncat @ Feb 27 2015, 01:02 PM) I would like to add on... the DSR computation shall be based on net pay, i.e. after the statutory deductions for EPF, tax, socso. Credit card in this figure means monthly credit card expenditure? Or outstanding credit card loan? I.e. does the DSR computation take into account monthly expenditure like rent, groceries etc? Sorry if this question sounds really noob...hahaDSR can be even higher than 75% but that's for high income or high networth group. |
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Feb 27 2015, 02:03 PM
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#5
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Thanks a lot everyone, you've been a great help!
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