Hi, i am first time house buyer. Right now im interested with two different houses, one is more expensive about 100k but near to city centre. So i put booking fee for both houses and submit loan for both. Eventually i will only pick one, haven’t decided which one.


Will this affect my loan approval because i’m submitting for both houses? I dont want to wait because HOC is ending june. Hence why submit both. Should i withdraw either one to increase my chances? I can only afford one house as of now.

That's how they do loan compression

what is loan compression? nub here

no, just submit both.

How much is your monthly income, commitments ,housing loan amount, percentage of loan(e.g.100% or 90/80/70% ), property number?

If you have disposable income to cover for the both loan: you should not worry about approval.

At certain times , if both applications are not submitted to the same bank, banks would assume the loan would be applied for a same property even-though it is different: if this case applies(amount of loan should be almost similar for the both properties), you should not worry about the loan approval.

Loan compression is when you are only eligible for a single 500k property (500k for example) but u submitted two or three or even 10 property. 10 property means 500k x 10 = 5M loan compressed using your 500k eligibility.

A safe loan compression is when you can afford to pay, let say you are eligible for a 500k property but you buy a 300k property with a 200k property. Actually this one is not really compressed lah, we call it multi submission, we do this to avoid 70% margin for the 3rd property, or for your case want to take advantage as a first home buyer - can waive stamp duty or take Skim Rumah Pertamaku got 100% margin.

A risky one is when you buy beyond your affordability. Get ready kena lelong.

actually for my case here, i just want to buy one house. its just that i have two options. preferably i want to take the more expensive one but afraid got rejected. so i have two options and submit both. given good rate, might take the more expensive one. might fail both also

Ok. If thats the case, presuming both property submitted to the same bank:
If only eligible for either one, then the banker will ask which unit u want and which to cancel. Booking for canceled unit will be returned. If cancel both unit, booking for both will burn.

If each unit submit to same or different bank:
Either bank may approve or reject. If both bank approve, then you have to take both unit. If want to cancel any or both unit, the booking for the canceled unit will burn.