Greeting,
Firstly i'm first time home buyer. Been studying for 5 pages here and found only 1 TS open discuss about First time home buyer. Or most of the first time buyer too shy to ask ?

I'm confident a lot SIFU here can help me with my hell lot of question.

Sorry if those bother any of you.

1. How can i check the property value ? Must walk in bank ?

2. As per question no.1 , im currently looking at Kelana Puteri Leasehold with around 70Y (RM400k+) @ Kelana Jaya , and SD Apartment Freehold (RM280k+) @ Bandar Sri Damansara.

3. My income after deduction is RM3500 , my wife is also around that figure. So our total monthly income is RM6800-7000.

4. Have proper EA form and also EA from my part time insurance, around RM13k/year. Both also did file into annual income tax.

5. She got no monthly commitment and or any out standing with bank.

6. Me, i got RM14k out standing with Citibank CC. Monthly repayment RM1.3k.
RM10k out standing with HongLeong P.Loan, monthly repayment RM550.

7. What is the maximum amount we can get from bank ?

8. So bank will only offer loan % base on bank property value ? If the property seller offer RM400k, and bank value RM300k , is there any possible bank will offer RM400k because of me and my wife total income eligible that amount of total or more ? Or in this case i will have to apply for FirstHomeScheme ?

9. If bank only approve 90%, can we pay with our EPF for the remain 10% ? And how ?

10. Understanding that first time buyer will have discount on all other fees, how to apply ? Or just tell the lawyer im first time buyer and they will give discount ?

1. Engage estage agent more easier. Walk in bank also can

2. the price seems able to match with Bank Value. so no worries. To confirm. I can assist u to check the Bank Value.

3. with that combine income loan can up to 900k-950k

4. good

5. good

6. 14k from what credit limit? ensure to below 50% from credit limit. if 14k out of 20k. credit score not so good.

7. with that combine income loan can up to 900k-950k

8. normal case. bank only can finance 90% from Bank Value. to apply first home scheme also can. but the interest rate not so good.

9. yes you can. but need to nego with owner whether they are willing to wait for the balance via epf. try to nego like this.

3% booking
0% during sign snp
7% via epf withdrawal.

so, u only pay upfront 3% only.

bear in mind. for the first house. epf account 2 can withdraw 10%+10%. for example, the house is 400k.

u can withdraw up to 40k+40k, and your partner also 40k+40k. ( subject to amount is enough in epf account2 )

10. discount 50% at S&P Stamp Duty only. for example house price 400k. S&P stamp duty is 7k. for your case is 3.5k only which is include in your lawyer fees.

total lawyer fees for 400k is around 12.5k. for your case is around 9k only ( which is 50% discount on S&P stamp duty )

fazli

Thanks sifu. Are you a banker or agent ? Can pm me ur number ?

property agent bro. PM you already

1. check with banker or JPPH
2. see 1.
3,4, 5 & 6. Bank will assess the risks. probably first party charge. Joint property.
7. probably >800k if joint
8. can. pm me
9. yes. acc 2
10.yes. for both transfer and loan stamp duty 50%. Additional discount for other legal fees and disbursements as well.