Avtually, OCBC's DSR limits have been reduced quite a bit since the beginning of the year. For this income, HLBB would be a better bet since it allows up to 85% DSR limit for any nett income above RM3000

What are your commitments like?

Quite right. OCBC was among those that had high DSR, up to 90%, but now it has been changed. Other banks simply maintained their DSR. Now HLBB's 85% has allowed many of my clients get the loans that they want. Alliance are okay too, but their documentations can be tedious for the clients.

edit: I can only speak for the banks that I am doing ya.

Hi All sifu's, I'm get 2 offer. haven't decided will go which bank, need some advise

Public Bank 3.65 (BR) + 0.70 (profit) = 4.35

Cimb Bank 4.0 (BR) + 0.40 (profit) = 4.4

which is that a good deal?

I was quoted 4.4% for housing loan. Is this a reasonable rate ?

Its bank dependent, usually for semi flexi's it will involve a savings account yes, but by putting money in the savings account, there will not be any interest offset by the amount in the savings account.

can anyone advise whats the main advantage of Islamic type loan compare to normal conventional...

thanks

Hi not all islamic loan is without lock in period, its depends with the bank ya. All islamic loan come with discount with the stamp duty however the legal fees charge might more expensive becuase need to prepare more documentation

Yes, it is advisable, if you are able to afford the premium. As you aged, the mlta premium will increased exponentially. If the premium quoted are reasonable to your financial health, why not?
As I have listed all the pros and Cons between this 2 assurance at somewhere above this post.
For MLTA protection, you can get exact protection of the outstanding loan amount, given that you are able to pay the premium. For RM680,000 loan, after 8 years, your loan is RM400,000, you can only purchased protection exact loan amount and 20years tenure. So that if anything happen, you are being insured of RM400,000 during death or permanent disability.

Your premium for RM480,000 insured will depends on  (age, amount insured, your health,.....) The older you gets, the higher amount insured will directly increase the premium amount.
The answer is YES. It's called mortgage LIFE term assurance. Life as in your life, it won't end when you sold of the property, so it is transferable.

Conclusion:

What to chose depends on what's your objectives

You can opt for MRTA

1. If you are tight in budget
2. Wish to reduce mortgage interest rate by pairing mrta with the loan (some allows)
3. Cash rich, knowing that your family has extended cash amount to cover the remaining installment or settle the loan when something happen to main borrower.
4. short term investment on this property, flipping in near 5 years future time being

You can opt for MLTA

1. If you want a comprehensive protection
2. an assurance of an amount to cover future outstanding amount.
3. Having family with kids.

Top up is allowed, for MLTA.

MLTA is insurance provided by bank. It comes with all kind of regulations.

First of all, when you top up another rm500k, you will actually be purchasing another policy for that rm500k.

1. You can only insured the total outstanding amount stated. Bank doesn't allowed you to insured more than that, if not, BNM will question them.

2. Let me clarify, MLTA (TERM) isn't attached to the people but the loan it self. Anyway, it is still transferable.

3. You can only insured max tenured according to your loan tenure of the loan.

4.Yes, MLTA policy will show up which property you bought and cover, because it is attached to your loan.

mortgage life "TERM" assurance

Minor correction:
- stamp duty on S&P is just a nominal fee of RM10/-
- Memorandum of transfer (MOT) is the one that follows the tiers ie 1st RM100k is 1%, next RM400k is 2% and the balance (that exceeded the RM500k) is 3%.

Minor correction:
- stamp duty on S&P is just a nominal fee of RM10/-
- Memorandum of transfer (MOT) is the one that follows the tiers ie 1st RM100k is 1%, next RM400k is 2% and the balance (that exceeded the RM500k) is 3%.

To make things clear, yes Stamp duty S&P as MOT is much accurate. You will pay for the MOT when transfer of title happens for Undercon project, it will take few years time until developer successfully applied strata/indiv title.

For subsales, you will straight away pay MOT and STAMP duty S&P.

Anyway, you will still pay the same amount at the beginning for subsales and undercon, because usually lawyer doesn't want any delay for the title payment when it is transferable, hence they will request the payment to be done all together.

The calculation part, yes it will be around that figure. Most accurately ask lawyer to quote and remember to ask for at least 30% of discount . Usually clients get 30-40% discount.

its together with the form ma

thanks bro hehe 

Maybank A/C : 5123 5260 4549

I got the A/C number when I subscribed for self -credit monitoring. Then the executive emailed me the details

Dear
1) You will need to pay for valuation fees and upstamping fees
  If you Top up RM550,000 property price.
  Estimation
  Valuation fees will be around RM1078
    Upstamping fees (old fees- new fees) new fees is around Rm2508. Just top up on the difference.

2) If you have 3 housing loan to begin with, your 3rd house TOP UP will be 70% eligibility.
    If you sold 1 house, you will left with 2 housing loan, which if you TOP UP, will be 90% eligilibity

3) It really depends on what is the interest rate you are currently being charged with. If the other bank offer a more delicious rate.

    If you refinance just to save 0.05%, it won't worth it.
    As, Refinance, you will need to pay Legal loan, stamp duty loan and valuation all over again. There's a cost for it, So it is better to calculate the total cost of refinance before opting for it.

Any reliable website where I can get the interest rates from all banks since loanstreet is not up to date?