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Mortgage Loan Package Inquiries, (Strictly NO Promotion Allowed)
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zfc
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 Oct 21 2018, 08:12 AM
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Getting Started
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If I'm buying a property for investment and plan to sell it within 10 years, should I get MRTA or MLTA? I'm confused with these articles: https://uliasset.com/interesting-facts-mrta...know-buy-house/It mentioned "If you plan to buy a house for investment or “flipping”, taking up a short-term MRTA can save you a lot of cost." But another article: https://www.iproperty.com.my/guides/which-m...k-mrta-or-mlta/It mention under MLTA, "If you intend to keep the property for the short term or use it for investment, then it is the best policy as it is easily transferable". After that under tips and tricks it mentioned "If you plan to sell the property within a few years, do not purchase a mortgage insurance." So which option should I go? MRTA, MLTA or none? |
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zfc
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Oct 22 2018, 11:25 AM
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Getting Started
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QUOTE(lifebalance @ Oct 22 2018, 09:51 AM) MLTA over the long term is cheaper than MRTA. If just for short term <5 years and you got no more plans to take up further loans thereafter, then MRTA I thought MLTA is more expensive over the long term? Referring to this article. https://www.imoney.my/articles/mrta-vs-mlta-need |
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zfc
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Jun 6 2020, 08:22 AM
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Getting Started
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I am confused on what is the best way to save interest from home loan.
1) Pay more down payment, take as minimum loan as possible
2) Take the maximum loan and maximum duration (35 years). Pay more loan repayment every month.
All the way I thought option 1 is the best way but one of the banker told me option 2 is better. When we pay more loan repayment, ended up we will save more compared to option 1.
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zfc
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Jun 6 2020, 03:35 PM
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Getting Started
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QUOTE(Cyclopes @ Jun 6 2020, 12:32 PM) But your interest element will be very high and are will your cashflow in future sustain the higher monthly repayment? What about your other commitments? So you will suggest me to pay more down payment? |
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zfc
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Jun 9 2020, 10:22 PM
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Getting Started
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QUOTE(lifebalance @ Jun 6 2020, 11:46 AM) 2. Take a longer tenure so your dsr will maintain lower for future investments, and then pay higher installment monthly to reduce the interest from incurring. As long as you have never use your Epf for purchasing purposes, you can use it for your 2nd purchase But a lot of articles are encouraging us to pay more down payment. https://www.propertyguru.com.my/property-gu...-malaysia-18659https://ringgitplus.com/en/blog/home-loans/...wn-payment.htmlI can't find any article which recommend us to take the max load with max tenure, then pay more installments per month. |
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