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 Useful links related to property, compiling links, please contribute :)

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faizalmn
post Nov 12 2012, 09:14 AM

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Joined: Jan 2008
From: Kuala Lumpur
QUOTE(ak1985 @ Sep 13 2012, 01:23 AM)
This app is developed by me.
I couldn't find any app designed for Malaysian home buyer, so I made one.

App: Malaysia Home Loan Calculator
Price: FREE
iTunes page link: Download from iTunes
Region: MY
Version: 1.0
Filesize: 1.0MB
Requirements: Universal app, iOS 5 and above
Developer: Agmo Studio Sdn Bhd (My company)

user posted image  user posted image
user posted image  user posted image
user posted image

Malaysia Home Loan Calculator is designed for Malaysia home buyer or foreign property investor based on latest rules and regulations in Malaysia. It is the first all-in-one offline home loan calculator for Malaysia, which includes loan repayment calculation, amortization schedule by year and month, legal fee calculation, Sales and Purchase agreement and loan agreement stamp duty calculation, EPF withdrawal calculator. It also provides latest property news for reference.

Features:
Home loan calculator:
1. Calculate monthly repayment, total payment and total interest paid based on loan amount, interest and length of mortgage
2. Detail amortization schedule in monthly and yearly basis are provided as well, which shows the principal paid, interest paid and balance for each month

Legal fee calculator:
1. Calculate S&P agreement and loan agreement legal fee based on property price
2. Calculate S&P stamp duty based on property price
3. Calculate loan stamp duty based on property price
4. Calculate the total legal fee and stamp duty required based on property price

EPF withdrawal calculator:
1. Calculate eligible fund can be withdraw based on property price, loan amount and balance in account

News:
1. Show latest property news in Malaysia, powered by www.iproperty.com.my

Other:
1. Fully offline for all calculators, no Internet connection is required

Email: myhomeloancalculator@agmostudio.com
Facebook: https://www.facebook.com/AgmoStudio
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Well done bro! However I just run this program on a few of my mortgages. Out of curiosity, where's the discrepancy come from? I also use mortgage calculator at http://loanstreet.com.my/ , and it turns out the same. Even though I have entered all info needed (interest rate, loan tenure, down payment, etc), it couldn't even compute the exact monthly installment I'm paying. The difference is about 1 5% more than what I am paying now. So when I run the amortization, 15% difference makes a lot of difference in 10 years. Pls give me a hand ... TQ icon_question.gif
faizalmn
post Nov 12 2012, 09:53 PM

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Junior Member
62 posts

Joined: Jan 2008
From: Kuala Lumpur
QUOTE(METALRAGE @ Nov 12 2012, 05:53 PM)
If you don't mind, what are the details of your loan? We'll crunch it to see where the discrepancy lies
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I got a few. But one of them is RM 150,150 with 15 years tenure, 100% financing margin, 6.95% interest rate. The result i got from http://loanstreet.com.my/ is RM 1,345 for monthly installment, total payment of RM 242,171.44 and total interest of RM 92,021.44;

Whereas the real payment that I make is RM 1,305 and the total payment that I'm gonna make if I complete the 15 years tenure is only RM 227k ++. Sorry the difference is not as much as 15%, it's about 4%. TQ
faizalmn
post Nov 15 2012, 01:58 PM

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Junior Member
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Joined: Jan 2008
From: Kuala Lumpur
QUOTE(METALRAGE @ Nov 15 2012, 10:52 AM)
1) Does your contract state 15 years, or 180 months? (Or is it 188 months?)
2) Any instalment holidays from this bank? (Some banks practice this)
3) Any tiered interest for the duration of the loan? (1st year x interest 3rd year y interest 5th year onwards z interest)

You could ask the bank why there is a discrepancy. But in any case, the good news is that this discrepancy is in your favor smile.gif
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Thanks for your response! smile.gif

1) Yes, it is exactly 180 months.
2) No installment holidays.
3) Is it a fixed 6.95% regardless of BLR/BFR rate.

So is there any other reason why there is discrepancy? I'll try to work out on other mortgages from other banks and see whether the calculation turns out the same.
faizalmn
post Nov 27 2012, 01:06 PM

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From: Kuala Lumpur
QUOTE(METALRAGE @ Nov 27 2012, 12:17 PM)
Faizal, so what are your findings like? It is intriguing.
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The result is still the same.
I got a financing of RM 150,150 @ 6.95% fixed rate @ 180 months tenure.
My installment per month is RM 1,305
faizalmn
post Nov 27 2012, 01:43 PM

Getting Started
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Junior Member
62 posts

Joined: Jan 2008
From: Kuala Lumpur
QUOTE(METALRAGE @ Nov 27 2012, 01:31 PM)
Did they explain how they arrived at RM1,305?
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They didn't. I've been paying like 9 years now!
faizalmn
post Dec 7 2012, 10:42 PM

Getting Started
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Junior Member
62 posts

Joined: Jan 2008
From: Kuala Lumpur
QUOTE(fezy @ Dec 7 2012, 02:55 PM)
well... isn't it better that you paid lower? :-p

the only explanation i got is, THOUGH it is said that your loan amount is rm150,150 @100% MOF, BUT didn't you pay 3% to the vendor upon you signing the SPA?
So, i assumed actual drawdown was only 97% of the purchase price.
and wallah! at 97% price, installment = rm1305-03.
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Thanks Fezy. Actually I did pay the 10% down payment amounted RM 15,015. However since I was entitled for 100% MOF, they refunded the 10% down payment I had paid. So my financing is at the purchase price.
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