Good news for Malaysian who want to buy their first property !

Damn 3.5%

save about 20-30% installment per month.. ho liao..

Hoot another tower in solasta 💪

Haha.. great idea

Wait no more. Just du-it 😉😊

Sorry just asking regarding max financing of 3.5%, what is that mean? 3.5% fixed?

If u know how to calculate there is almost no advantage

If loan 40 years, monthly repayment RM1162.17,
(let said bank rate fix.. 3.5 percent for 40 years.. Which is unsure yet,

If loan 35 years, monthly repayment RM1373.68, 4.25 % currently cimb let said

If u minus this both.....

Net difference RM 211.00

Any this all exclude maintaince cost, cukai taksiran (if they rent perhaps they no need to prepare extra costing for this both) lower risk to bankruptcy

Exclude renovation, electricity bill, water bill n other hidden cost

RM 211 / RM 6.00 per meals can save 35 meals....The whole advantage is 11 days meals (3 meals) for B40 grp

Perhaps...

Anyway... Rm 200 ++👀 in KL living... Emmm

This post has been edited by dave1987: Aug 24 2019, 08:41 PM

Fresh grad salary RM3-4 now can enjoy lower interest rate bro.. big booster i guess.. If this BNM aid come earlier, it will more easier for me to sell off Kiara Kasih rumawip.. haha

good news

Yeah broo.. really good news..

Oni extra rm 200 pocket money, already can help to sell off ur condo 🤣

This post has been edited by dave1987: Aug 25 2019, 10:00 AM

5 years only

nowadays every ringgit counted...

so it's actually good news

Can I know the 4360 is based on net income or gross income ? Because I think the BNM got introduced before the loan approval is based on net income instead of gross income

Extra 200
If need to pay cukai takisran every half year, indah water n so soon will be a cost like rm 20 per month

nett is RM 180.00 per month

Agrh hidden cost

Extra 200 also not good?
Wow

1 year 2.4k
35 years = 84k

This post has been edited by heavensea: Aug 26 2019, 04:40 PM

Can apply as single borrower although I am married?

can boss... not married also can try.. Zuraida increase this requirement to stimulates fresg grad buy house.. you can use this fund to buy rumawip.. max RM300K.. grab it..

It's only eligible for the 1st property buyer?

Yup..

Depend on income I guess

Income below RM4360 can apply 3.5% financing rate.. income below RM10K can apply SRP(Cagamas) scheme..

all only for first home buyer..

1 limit to below 300k while another limit to below 500k, any for limit below 1m?

SRP Cagamas cannot be applied for RUMAWIP right?

Can.. 100% loan for rumawip all through cagamas..

but now can apply BNM affordable home fund also to get 3.5%..

But still, we have to pay the deposit first right? Then only we refund the deposit using 100% loan.

in case that I handle so far... no need to pay..

Can i have your whatapps no?

This post has been edited by Mr. HH: Sep 10 2019, 08:26 PM

From Bella Leana FB..

Household Income - BNM Funded Affordable Skim

Soalan:-
Bella, suami dah ada rumah tapi isteri belum ada.. kalau isteri nak beli rumah guna BNM affordable skim tu (Rate 3.5% 100% Margin) masih layak ke?

Jawapan:-
Isteri masih layak sebab tiada rumah lagi.

Soalan:-
Loan macam mana? 1 nama ke 2 nama?

Jawapan:-
1 nama sahaja sebab suami dah tak layak..

Soalan:-
Kalai gaji isteri tak cukup? Sebab komitmen dah tinggi?

Jawapan:-
Tak boleh lah apply skim ni.. DSR dan NDI still applicable..

Soalan:-
Gaji Isteri RM2,000
Gaji Suami RM3,000
Boleh tak nak apply skim ni atas nama isteri sahaja?

Jawapan:-
Tak boleh. Sebab household income untuk skim BNM ni RM4,360 sahaja

Soalan:-
Tapi yang nak apply loan Isteri sahaja..

Jawapan:-
Walaupun sorang je yang nak apply loan, tapi slip gaji pasangan yang terkini juga perlu di hantar sebab syarat nya Household Income..

Ooooooooo...

Gaiss!
Walaupun nak apply tu nama seorang sahaja, tetapi dari segi income tetap kena submit both payslip ya.. sebab household income..

Soalan:-
Boleh tak nak tipu cakap single walaupun sebenarnya dah kawen??

Jawapan:-
😱😱😱

Love,
Bella

#BNMFundedAffordableSkim
#BellaDanFinancing

My rumawip sold out already.. Kiara Kasih..

Maximum effective interest rate 3.50%.
Under this initiative, someone managed to get 2.90% from CIMB for a rumah selangorku project (100k price apartment). 40 years tenure (480 months).
Here's the offer letter:




Best ever deal. Unbeatable.
Grab it if you are first home owner.

Huhu.. yeah.. rugi if not grab it.. the best deal of century..

Why is the legal fee so high? Over 3% of the loan amount. This is ridiculous- the facility agreement is a standard document.
It’s beyond exorbitant

Must it be a new project or can applicants apply for the loan for sub sale too

Thanks

new projet onlyy

Thanks mate

Can refer to this website for more details : housingwatch.my/04_financing.html

Thank you thank you so much

A friend of mine wants to buy a house. Sub sale. Leasehold flat in PJS 7. Sale price is rm 170k. What options does he have. Monthly salary is 3k.

Thanks

Government of the day is more on developer side.. not much we can do..

is it possible to apply for this if let's say income is from overseas?


anyone did this before?

is this flexi or fixed?

This post has been edited by Pain4UrsinZ: Sep 23 2019, 02:46 PM

Fixed

confirmed ah ?

confirmed with my banker that this is fixed, i got 2.9% from CIMB bank.

the fund very fast will finish, govt extended from 1b to 3b according to my banker.

oh yes, i also wanted to ask, usually the 'Legal Fee' (sometimes called 'Valuation Fee') is how much ya?

Say for example a RM500k high rise property in KL.

Now everyone got 2.9% from CIMB.. promo rate

fixed not really tempting.. if semi flexi.. holia wey..

at 2.9% interest rate, can't really complain haha.

and it will be foolish to settle early imo, use excess cash to put in FD also better than settling early. imo la.

Refinancing can get this rate also???

Another example. Someone got it for PPA1M project priced at 240k.
RHB bank. 100% loan.
Can include legal fees & MRTT inside.

Best deal ever.

Very tempting. Rm995 only per month. Which ppa1m project is this?
I got one ppam mercu jalil price Rm245k. Thinking gonna do the same.

I thought ppam no longer avail in kl

PPA1M Vista OUG

3.5% very high.. now Cimb got 2.9% promo.. if he smart, he choose cimb..

https://www.cimbbank.com.my/en/personal/pre...able-homes.html

Ya but my name in the waiting list of ppam mercu jalil. I just go to the project site today, seems far from my office. 22km away. Still thinking about it.

I'm applying for this scheme with mbb. Trying my luck!

For those who apply for this scheme, how long does it takes for bank to approved your application?

Was told that the 2.9 was their base rate. On top of that they impose a variable rate which can go up to, but not exceed total 3.50%. All the same tbh.

3.5% too low ady

RM211 is already a saving.

The rest of the calculations are irrelevant whether buyer takes BNM HL Assist or normal loan.

I would be happy if someone gives me RM211 every month to help settle my loan.

This post has been edited by mini orchard: Oct 18 2019, 08:51 AM

maintaince cost is more than 211 for sure.. Basically still no difference

flexi loan still the best

but 211 still mean a lot to certain group of people.

This post has been edited by Pain4UrsinZ: Oct 18 2019, 09:30 AM

If no savings, still to take out from pocket RM211. It wont drop from sky.

Why no diff?

Meaning normal loan less pay maint?

This post has been edited by mini orchard: Oct 18 2019, 09:58 AM

What do you mean by no difference? Rm211 and you said no difference.

Who says RM 211 does not make a difference!? You are living in M40 life, you will NEVER know how much this RM211 can help them!

IF you do the math, RM 211 is 15% of RM 1373. THAT'S A LOT. ! I have witness myself, colleague in my company (KL) cook and bring their lunch to work everyday which cost like RM3-5? Rice + vege + meat.

People really dont appreciate how govt helps them. what you expect? RM 1300 monthly instalment become RM650? 50% reduction?

Haha so true. Rm211 is alot. 211 x 35 then do your maths.

I got offer from rhb

RHB approved under Islamic Loan
Loan amount = RM198,000
MRTT= RM13,004
Legal Fee=RM3,960
Total = RM214,964
Tenure=39 years
Interest Rate=3.5%
Monthly Instalment= RM843

Why the mrtt is so high? Im 31 years old btw. Plan to go for 35 years only.

never heard of MRTT, is it same as MRTA? If yes, this is very expensive.. I would opt for MRTA for your case, cheapest out there

RM211 for T20 of course no feel.

😆😆😆👍👍👍

I mean u see.. If you rent house.... U no need to pay maintenance of rm211

Becoz of u owing the house... Yes.. You got a cheaper rate.. Rm 211...

But the maintenance cost is a must costing to pay...
For the owner of the house..

It actually killing n risky for those in bottom line of salary n miscalculated this portion

Owning = maintainance cost
Renting = no maintainance cost

Perhaps u can do aso the math for maintenance cost also, if u owing a house...

Maintaince cost x 12 month x 40 years

.. Maintainance cost increase every 2 to 3 years..

Then why show the calculations for the two different type of loan?

Straight away say not wise to own house because of maintainance. Better to rent ... no maintainance.

To be squatter is better ... No need to pay at all !

This post has been edited by mini orchard: Oct 18 2019, 04:25 PM

Lol.. If don't show the calculations n hidden costs involved, scare people don't get the meaning, posting become no value..

Go to sleep.

Good nite.

This post has been edited by mini orchard: Oct 18 2019, 07:46 PM

Mrta / mrtt is the same. mrtt for islamic loan meanwhile mrta is conventional.

If got the BNM loan, just take it.. Govt spend RM1 billion to pay for you.. definitely better loh.. My cousin got 2.9%, cimb, 35years, 300K rumawip inspiria, pay only rm1200++ per month.. so good.

That’s the price of owning a house. U are telling people that rm211 not worth because it has no impact on monthly savings.. but you are so wrong.

He gets to own a house for commiting monthly ! And you sounds like renting a house don’t cost him money. Try rent a a 3 bedder in Klang valley, easily cost u 1.5k for a decent condo.

https://www.iproperty.com.my/guides/critica...n-overlook-ctr/

Maybe this one will be more details with self explanatory



Let’s assume you bought a really good condominium, something where the mortgage is lower than the rent. Your monthly mortgage payment is RM2,500 but your rental income is RM3,200. That’s a profit of RM700. Surely this is great right? Not likely because you’ve forgotten about other costs. Here are just some of the other costs you may have overlooked:

1. Taxes (assessment and quick rent)
2. Joint Management Body fees (for strata property)
3. Annual improvements & maintenance (repainting, replacing furniture, repairs, etc)
4. Memorandum of Transfer (MOT) on stamp duty (for new purchases)
5. Mortgage Insurance

If these costs work out to an additional RM700 per month, your net income is zero, which is still good. However, if they exceed RM700, then you’re negatively geared..

Copywright to writer

This post has been edited by dave1987: Oct 26 2019, 12:55 PM

This topic is about BNM Assist Housing Loan.


NOTHING to do with cost of owning a home.

Open a new thread and you can write till sunset.

This post has been edited by mini orchard: Oct 26 2019, 01:44 PM

Stick back to the topic please.

Anyway, I have already accept the RHB offer for BNM affordable housing scheme, will sign the offer letter by next week.

This is the rate :

Loan amount = RM198,000
MRTT = RM9,153
Legal Fee = RM3,960
Total = RM211,113
Tenure = 30 years
Interest Rate = 3.5%
Monthly Instalment = RM948

I'm going for 30 year only even they offer 39 years. If 39 years = RM843 Monthly. I'm okay with anything less than 1k per month.

Hi,

Anyone know if MRTT is compulsory for the BNM first home loan 3.5% for Home financing?

Not stated anywhere under BNM FAQ that its compulsory but banks will most likely make it mandatory.

Anyway my Islamic BNM fund loan with RHB just got approved

RHB (Step Up Payment)

Home Value= RM300,000.00
Legal Fee Finance Limit: RM5,600
Full Mortgage Reducing Term Takaful: RM16,529
Total Financing Amount: RM322,129.00
Financing rate: Fixed 3.50%p.a.
Financing Tenure: 40 years
First 5 Years Monthly Instalment: RM958
6th Year Onwards Monthly Instalment: RM1,332

Why is there a big jump 1st 5 years 900++
To 6th year till 40 year = RM1300++

That's a big increase.
Something is not right here.

Yup it was intentional on my end. Was offered the 'standard' package which is basically flat rate for the entire tenure but I went for the alternative 'step up' package for personal reasons.

For this package first 5 years basically all goes into interest payment (which is why its soo low) and 6th year onwards is when principal deduction gradually increases (which is when monthly payment picks up).

Never know can opt for step up payment. I think it's very good choice. The first 5 years is less than 1k only for 300k house. If I know about this earlier, i will apply for 300k house (skyawani iv).

how to convert to step up payment??

hi can i know that your RHB loan is Term loan or Semi Flexi or Full Flexi loan ?

I also wanted to know.

It's term loan / fixed 3.50%.

interest so low.. not worth it early settlement...