Keen on purchasing my first house, 385k condo, completion early 2022.
90% loans approved by mbb, hlb, still waiting response from other banks

mbb 4.2% interest
90% loan + 1.23% mrta

hlb 1st 2 years 4.03% , then 4.25%, mrta additional 8k

interest rate unchanged if not taking mrta.

As I know mrta is not compulsory and is a form of insurance. What do you guys think? It's about additional RM20 each month. I plan to upgrade to a bigger house after staying about 5-6 years.

I also got calls from insurance agent friend who is promoting her own mrta/mlta packages. Is it better to go with bank than with insurance company?

Thanks

Insurance friend said is better to take mlta or some other form of house insurance instead of mrta since you can transfer it to future houses but mrta cannot transfer and stuck with the same house.

I read some threads here where other people say banks insist on taking mrta otherwise rate no good, haha so I confused. Maybe is up to the branch/banker.

thanks, will ask the bank. they didn't tell me about this surrender value. If the mrta is financed into the loan as additional 1.23% over 35 years, basically after 5 years when house is sold I won't need to pay that 30 years balance of mrta?