Fresh Grad's 1st property for potential investment, need advice given from experience people
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 Sep 10 2015, 12:44 PM
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#1
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Senior Member
2,173 posts Joined: May 2010  
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Hi guys, hopefully any loan consultants/property consultants here can give some advise. I'm not a fresh grad, just wondering what's the maximum that I can borrow from bank for my first property. For example, my gross salary is 5k, current commitment is 1.6k for a car. What's the price of a property that I can afford? Thanks.
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Sep 10 2015, 01:19 PM
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#2
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Senior Member
2,173 posts Joined: May 2010
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QUOTE(cdspins @ Sep 10 2015, 01:17 PM) Actually there is another thread on mortgage in this section. But anyway, let's do a quick calculation. Assuming you have no other loans other than hire purchase. BNM guide is not more than 70% of your income to service dept, meaning you will have 1.9k for mortgage (3.5k minus of 1.6k) Hmm... 1.9k for a 30 years loan at current interest rate will be about 400k loan amount. Thanks bro, more or less I know roughly what I should be looking at now! |
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