As per the title, my nett income is rm4800, current commitment rm800 for car loan. Lets say if my house loan approved, is it advisable for me to commit rm2500 house loan installment?

you can live with RM1500 balance? other spending. that suicide man.

condo?
maintenance? water electiricity...
car maintenance?
gg

btw..i foresee loan being rejected as well

This post has been edited by sunami: Oct 3 2018, 11:24 PM

Ya i know.. i have done some optimistic calculations balance Rm1500 is very hard to survive..

Let it go bro, there are lot of things you should consider. too risky. or go consult with registered financial planner.

nope is subsale landed.. even though i have some savings enough for the 10% downpayment and SPA fees, i think i better follow the rule of thumb which is no more than 30% of nett income..

Will do bro.. Thanks for advise

30% is ok..but....
30% of 10k = 3k
30% of 4.8k = u do calculation lo..lel

ur monthly commitment or dsr < 60% so u do the maths...
loan will be rejected even before u got the chance to pay installment.. lel

my gf did offer to joint loan with me so that we have higher chance to get loan approve.. hard to let go because we both liked the property very much

if you can afford..go ahead..is a good things to start...
do you know what's time to buy prop?
not bubble burst time...
is the time when u can afford!

Thank you for advice mang .. i will discuss thoroughly with my partner and parents

i don't think that's an issue. it depends on how you managed your money only.
i committed to my first house @ 1.6k monthly when my nett salary only 2.8k
and currently committing to a second house @ 2k monthly, current nett salary 5.6k

i'm pretty sure your salary will go up every year right ? the only gamble is the interest rate. if it goes up, you pay more. plan ahead and do your budgeting wisely.

but your scenario is better than me.. 1600/2800 is only 57% DSR.. on the other hand mine is 3300/4800 is close to 69% which leaves me very little space to manage my balance money well

haha.. slightly better only la. just recently got a bit increment only. else DSR similar to yours also.
i'm taking calculation based on both installments. atm. 64% it's suicide i know but it might be worth later on.

but things to consider is, your car petrol+maintenance and your future maintenance + utilities for your house
so yeah... see what you can reduce lor. do a projection of income - exp for next 3 years +/- inflation all
if the figure you get is not so ideal, then i suggest you try to go for a lower priced place

sure bro, appreciate your advise

I don't think joint loan is a good idea. Anything happen later, payah ooo mau setel.

Dear bro, do u mean in case we broke up hard to settle isit?

Depending on banks, since your salary is more than 3k, they will allow 75%/80%/85% DSR
Maybank allows 85% from what ive heard

thanks for info bro.. but 69% also killing me edi.. RM1500 balance minus off spending like food petrol life insurance etc i just left RM300 every month

But since my gf (waifu material, she is the one ) is being supportive and take up a portion of the house loan installment then i think its possible for us to own the house

maybe you can break down the spending amount each month..and from there you can minus or deduct the spending..
so that you can have more saving for emergency usage..