As per title, just for the purpose of discussion.

Would you, or are you spending more than 60% of your net income for home loan, and why?

How much would your ideal % of income be tucked away for home loan?

Anything above 50% of nett income just for loan repayments, for me that's living close to the edge already.

60% for home loan only, no.

But for starters, generally the millenials are having tough time, tend to fall into the 60+% bracket.
Salary will go up in time, maybe suffer for 2 years, then as salary goes up, things will be better?

This post has been edited by Michaelbyz23: Apr 12 2017, 08:52 PM

firstly, your question is wrong and not making any sense, please this close this thread and google DSR....

Mind further your explanation? My question was simple and simply for discussion purpose, on whether will you be willing to spend 60% of net income for home loan. Do I need to close my topic as per ordered by you, simply because I posted a discussion thread?
Please advise me, sifu
If it's wrong, or offensive, I apologize, you are free to hit the report button as well.

worth if salary above 10k

Mine 80% got for loan repayment 😂

me toooo

20% enough for other expenses?

if you want to gauge how many rich and poor pp in this forum, than your poll's question is make sense.

60% is affordable for high income but not low income.

This post has been edited by Nikmon: Apr 12 2017, 09:24 PM

Enof lo

i believe in work hard now relax later.. first few year is abit harder but at least at later age we can relax more.. if we dint give a go now with high commitments, then few years later our life will be more difficult..

Doubt the bank would approve the loan 270k wit juz 2.1k nett income nowadays

correct. 60% for person with 1.8k salary is madness. prob wont hv enough to eat. 60% of 20k on the other hand is still comfortable.

This is a very subjective question, if your annual income is like Lim Kok Thay, then you can well afford to spend more than 60% of your income on a home loan, as the balance income (after minus the home loan) is still tens of millions, and a small fraction of this is sufficient for you to sustain your living expenses.

On the other hand, if you income is 2k a month, if you pay 60% for home loan, the balance income is hardly sufficient to sustain a living.

In any event, please note that Bank Negara only allows around 30%-40% of one's income for payment of home loan, so even if you wish to use 60% of your income to pay your home loan, no bank will agree to this.

+1

imno,
everyone have to anticipate adverse future such as retrenchment, losing ability to work (touch wood) and etc.
don't say 60%, 50% also considered risky as putting own-self in the edge of cliff already; especially in current malai bole land economy/market which is bleak like Death Metal music.

What if monthly income RM3000 but have FD 500k and use the interest to pay housing loan?

FAMA fund leh 😂