Hello, my wife & I are currently looking to buy our first home. Currently, we're interested in a house with price around 350k (join loan) due to be conpleted around 2020. The thing is, the agent checked our mortgage eligibility & find out we are able to afford up to around 530k & bank calculator (cimb, hsbc) on their website backs this up too.

Hence, we're thinking to raise up a bit of our budget to around 450-480k

Is it worth it to maximise our mortgage loan? Based on our career progress, we are 90% sure we can afford up to that much (with kids, cars, sacrifice a bit on unnecessary vacation & dinner outside)

Though I'm as the first name, my record of loan, salary, epf everything is good. Different to my wife, her epf statement from her company isn't very good (3-4 months back pay) while all others is good. Will this effected our application?

Anybody's input here is highly appreciated

Many do this and for many reason too. Are you increasing budget to purchase bigger house or simply taking the extra money after dealing with the agent/owner?

If its the later, what is your plan with that 'extra'? Modify house or dump it for returns? As long as the investment is above the calculated interest, sound good tbh.

If you are want to look for a better property based on your new loan amount, go ahead.

Remember, what loan calculator shows is not equal loan approval. It doesnt take into consideration ccris and ctos.

This post has been edited by mini orchard: Mar 27 2018, 09:24 AM

Our intention is to choose bigger house. Say previously we only looks for intermediate terrace, now we're considering a corner unit.

So, in your opinion, it is best to just max out the loan?

Yes, that is what we're thinking now. Maybe a corner unit instead of intermediate. We're not thinking to take the max amount as shown in the calculator. Maybe less around 50-70k

Where is the house ? Cheap at < 500K for a corner lot ? Is it double storey also ?

Negeri Sembilan bro.. A little towards Port Dickson

epf if miss one month...kacau worr

Really ka bro? Adoi..