See for yourself (keep note that approvals are subject to the bank's credit controllers) Let me know if you need anything else.



As for the documents:

a. For the bonuses, keep the bonus slips and make sure they tally with your EPF and bank statements. You would also need to prepare 2 year EA forms so the banks can verify that the company gives out bonuses regularly

b. For the tenancy agreement, keep it stamped and valid. If the tenancy agreement is about to end in about 2 months during the date of application, please get an extension letter signed by the tenant if possible. Some banks are picky about expiring tenancy agreement. The same goes if the stamped tenancy agreement has been expired, just get a signed tenancy agreement by all parties involved. It is also important that you keep track of the payments in your bank for the past 6 months.

1. Friend, bank wouldn't allowed, unless disguise......   I let your imagination run wild on this.

2. Criteria's to get 90% loan.

Bank Point of view
a) Given your background is strong (Profession, family, age, house line, education level, MNC company.. etc)

b) Your income is strong, with low debt service ratio. If your income let say is RM5000 and your debt commitment is Rm1000 and your new loan installment is Rm1000

Rm2000/Rm5000 = 40% DSR. This is consider low and shows strong financial backing to repay your loan.

c) You have a good and awesome CCris record without any default or arrears in due. 1 year of debt payment usage will increase your likeability by the bank. It shows your strong commitment debt payment.

d) If your financial health is weak, add a join borrower will increase your chances. As his her income will add into bank calculation, so is their debt and commitment, so beware.

etc...

There's lots of factors that are not known by the public, so it is best to let your agent to do due diligence on your profile and provide constructive suggestions before loan submit to the banks.

Jointly so afterall both dsr is consider within guideline. That's why when one parties dsr is burst we always advice joint name

1) It doesn't mean DSR lesser than 50% only will you receive 90% MOF. DSR is one of the many factors. Due to difference bank, different underwriter moresoever. But 50% DSR is good indicator for loan to approve.

2)If more than 90%, definitely will be rejected. Try think from banks point of view. If you have Rm4000 income, your DSR 90%, RM4000X90%= RM360. After paying for all your debt and commitment, you will have RM360 to survive with. That's completely unacceptable and illogic. So bank will decline as you will have the highest chances to default.

3) When DSR 50%, RM6000 income joint. Rm3000 Is enough both to survive for 1 month.

Usually we will think from our side, by try think from bank point of view and we will realize why we being rejected.

I hope I make things clear.

All you need to do is to get:

1. Letter of increment from your HR
2. New payslip
3. Bank statement that tally with the said payslip.

And I will write a recommendation to the credit controllers to use your new pay to calculate the DSR.

It can be done.
Letter of increment, payslips, bank statement to match the figure.
A good explanation to the department will be sufficient.

Depends on the salary and the bank. Should be between 60% to 90%. What is your gross salary, if you dont mind sharing? 

No problem on the lengthy question

1. The projected bonus is based on 4 x previous salary right? (for my cousin's yes. For mine, it will be 1 month on old pay (in June), 3 months on new pay (in Dec))

2. What is your EA income last year ya? Can you provide 2 years worth of EA for bonus purposes? (last year was 60k. Will not be able because I had not worked that long lol).

3. Can you break down your current commitments, types, tenure, and installment paid per month? (housing loan of 500k. Monthly commitment of RM2,400 for 30 years. my cousin's will be car loan of 9 years of 900 a month. And both of us have insurance of RM200 per month if thats relevant lol)

4. Can you tell me what is your targeted loan amount? (900k)

5. DO the same with your cousin, need his information too. (done jointly)

1. For 100% property, you and the cousin may not qualify due to the fact that:

a. Property price may be well above the RM500k limit
b. Maximum salary limits of RM5000 for single application and RM10,000 for joint application, of which both of you surpassed

2. Your DSR, and even combined DSR can easily reach 85%, a few banks offer above 80% DSR for this salary range, such as Al Rajhi, Hong Leong, RHB, and Alliance if I am not mistaken.

3. The calculation I presented bellow are with and without bonuses - if the credit controllers ask for 2 year EA forms to include current bonus payment we may not be able to include the bonuses, unless you apply in 2016 when this year's EA form would be ready then. I didn't include side income that may not be verified as some banks refuse to accept even side income.

4. I try not to promise the moon and the sky with the maximum loan that can be approved. Whatever I calculated is based on the guideline of a particular bank; there can be special cases where we can apply for approval (for example, cash payments received from side income, however approval is never guaranteed, so I exclude them). Look at the maximum loan amount and consider if the figure is good to your liking.

For income more than RM3000, the DSR would be around 70%-85%
For income less than RM3000, the DSR will be around 55%-60%
It really depends on which bank, different banks DSR threshold for each income group is different.

For you RM5,500 the DSR threshold will be 70-85%
1. Your bonus is performance bonus or contractual bonus?
2. Can provide last year EA?
3. is your tenancy stamped and valid?
4. For your commitment, can you list down:
-Hire purchase loan (Borrowed amount)*
-Housing loan (Borrowed amount)
-Personal loan (Credit limit)
-PTPTN (credit limit)
-Credit card (Outstanding)
-ASB loan ( credit limit)
- Overdraft ( Credit limit)

For better accuracy

5. For your cousin, pls do as above too.

6.For side income, receive by cash? Yes it can be done but need to explain nature of the business, as why the income receive by cash.

7. If both of your ccris, financial profile and DSR is within the threshold, 90% will be high. But need to work on the analysis first.

8. If this is your first property, you can go for 100%

9. How much of the property price you are purchasing?

With the above details.
-Income
from your rental, bonus and salary + your cousin.
Debt housing loan and car loan

-Your cousin's and your debt and commitment will be calculated together.

-If it is 2nd property for you and joint name with cousin. 100% won't be eligible.

-purchasing RM999,000 property with 90% margin of finance.

-The DSR will be 66%, not that bad. but below most of the bank threshold 70% DSR

-look at bottom right, 5 of the banks will be able to finance your loan amount.

-RM999k property, you will be paying RM4255 installment/ month

-It looks bright with the details given, but I shall not promised you with anything. Because I haven't seen the actual documents and your ccris.

-PTPTN debt will also be a factor, so it's better to tally with ccris before confirming you with 100% loan acceptance chances.

Hope that this info helps you.

Understood. What is the target price of the property? Combined with my calculation above we can find the answer.

If there is no set price, let me tell you that you would have a good chance of getting a 90% loan for a property that cost:

a) if both your income would include bonus - RM1.487m (90% of that is RM1.339m which is your joint maximum loan amount)
b) if both your income exclude the bonus - RM1.134m (90% of that is RM1.021m which is your joint maximum loan amount)

Remember, the margin of financing is usually set at 90% for most property purchases (for your 1st and 2nd properties), and is primarily limited by the borrowers' ability to borrow due to their DSR (debt-service ratio). I have calculated your DSR above and your maximum loan amount.