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Mortgage Loan Package Inquiries, (Strictly NO Promotion Allowed)
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squall1987
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 Dec 30 2015, 09:09 PM
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Getting Started
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QUOTE(Madgeniusfigo @ Dec 30 2015, 05:09 PM) Dear kerrigan_id 1. You will only need to pay valuation fees for subsales aka second hand property. You need to get the exact market valuation or more for the intended selling price of the property. 2. Usually you will be the one who bear the cost. However, some bank allowed you to finance the cost into your loan amount. Meaning to say, you doesn't need to pay all in one lump sum, paying it by mothly in stretch of your loan tenure. It would cost more due to compounding effect. It depends whether you want to service the cost upfront or by installment. Sorry, I am curious to know how much is the evaluation fee? |
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squall1987
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Dec 30 2015, 10:20 PM
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Getting Started
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Dear Madgeniusfigo,
(1) Would like to ask if currently I am holding a mortgage loan, but still serving its interest only (under construction). So my DSR will base on serving interest or base on full loan repayment amt?
(2) If i wish to purchase another property, how much more I can loan? May i know what information you needed to do calculation?
Thank you very much for your fast response
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squall1987
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Dec 31 2015, 09:10 AM
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Getting Started
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QUOTE(Madgeniusfigo @ Dec 31 2015, 09:01 AM) Dear Squall1987, 1. Your DSR will based on credit limit in your CCRIS, means your total loan borrowed with the bank, from the moment the loan executed. 2. I need your details as in below to calculate: CODE 1.Borrower
-age 29
-No. of borrowers 1
-no. of housing loan 1
2. Income (borrower)
- Gross salary 7600
-Variable income for business (6months latest) nil
"1.
2.
3.
4.
5.
6."
-OT
-Fixed allowance
-Variable Allowance (6months latest)
"1.
2.
3.
4.
5.
6."
-Bonus contractual (1 year bonus amount)
-Bonus performance (2 years bonus amount) 19k (2015) Only have 1 year, previous job none
-Comission (6 months, each month amount from the earliest)
"1.
2.
3.
4.
5.
6."
3. Supporting income (borrower) nil
-Tenancy agreement rental (6months) nil
"1.
2.
3.
4.
5.
6."
-ASB ( 2 years total DIV) nil
-Shares dividend nil
-Fixed deposit nil
4. Debt / commitment (borrower) "joint or indiv"
-Hire purchase loan (Borrowed amount)*
-Housing loan (Borrowed amount) (Joint or indiv) 534k (indiv)
-Personal loan (Credit limit)
-PTPTN (credit limit)
-Credit card (Outstanding/usage) 2k per mont
-ASB loan ( credit limit)
- Overdraft ( Credit limit)
4. Background (borrower)
-Occupation Senior Chemist
age 29
-currently staying at? P.J. parents hse
5. Property
- purchase price Roughly 600 k max
-subsales or underconstruction subsales
- freehold or leasehold leasehold
- 1 borrower or joint borrower 1 (if possible solely me)
 Hi Evan, Do let me know if you need further info from me. Thanks! |
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squall1987
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Dec 31 2015, 12:34 PM
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Getting Started
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QUOTE(Madgeniusfigo @ Dec 31 2015, 12:29 PM) Dear squall1987, 1. With your current income and debt/commitment. Your max loan eligible is RM377,000. 2. Purchasing Rm600,000 PROPERTY 90% margin of finance, won't be possible. 3. Your debt RM534,000 housing loan posed a huge commitment on you. You need to either: a) Increase your salary b) Joint borrow c) Tenancy Income from your Rm534,000 property  If my joint borrower is a contract worker how would that affect the application of loan? Joint borrower Gross salary is 6k. |
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squall1987
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Dec 31 2015, 05:25 PM
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Getting Started
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QUOTE(Madgeniusfigo @ Dec 31 2015, 05:13 PM) Dear, If joint borrower still in contract, must at least 3 months. Documentation need extra Job letter offer. 2. Does he have any debt commitments? Do list down a) hire purchase B) housing loan c credit card d Overdraft e personal loan Car loan - RM 500 per month House loan nil CC - No (it is better to apply one for CCRIS purposes?) Overdraft nil personal loan nil Thanks Evan |
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squall1987
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Jan 4 2016, 09:46 PM
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Getting Started
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QUOTE(Madgeniusfigo @ Jan 4 2016, 06:30 PM) Dear, Yes, this is called pure 3rd party loan.  1. If SPA name A Borrower name B Only 1 bank can perform such financing. Only one in the market. 2. The answer is YES.  What is the cons for taking 3rd party loan? |
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squall1987
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Jan 13 2016, 01:15 PM
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Getting Started
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QUOTE(Madgeniusfigo @ Jan 13 2016, 01:03 PM) Dear, 1. If you opt for zero entry cost, HSBC, the rate will be 4.6-4.7% 2. If you opt for other banks rate, it will be 4.4-4.45% rate. However, other banks would allow you to finance your legal fees, valuation into the loan amount too. You can finance max 5% of your loan amount ( 5% x Rm400k loan =RM20K). You can finance total 20k of your legal fees + valuation into your loan amount. Dear Madgeniusfigo, How to finance legal into loan amount for sub sales? How bank disburse money to lawyer? As far as i know there will be two layer, SnP lawyer and Loan document lawyer? I am a bit confuse here? As for your example, if 5% x Rm 400 k loan = 20k. if 20k is more than enough for legal fee, how bank may give back the extra to us? |
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squall1987
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Jan 13 2016, 01:46 PM
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Getting Started
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QUOTE(ims2628 @ Jan 13 2016, 01:35 PM) Bank only able finance legal fees for bank loan legal side. For subsales you can request to finance loan legal fees and valuation fees in maximum 5% from the purchase price. Some bank nowadays is smart they need submit finance loan legal fees along with lawyer firm quotation. Hi, Thanks for reply. Loan legal fee need 20k for RM 400k house? Why so expensive? I thought it will be 0.5% of loan amount? Does it include stamping fee? |
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squall1987
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Jan 13 2016, 04:51 PM
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Getting Started
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QUOTE(ims2628 @ Jan 13 2016, 04:46 PM) It doesn't sound logic loan legal for 400k prop need 20k. It's around 6-7k only. while valuation fees is around 1k+ Hi, May i know for property price at RM 560 K what will be the estimated SnP + Loan legal fee and all stamp duty? |
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