Hi /k based on my previous topic regarding my housing loan, i have two offer concurrently

Basic Term Loan
Rate: 3.4% | Monthly: RM980
The amount remain for 35 years and have to pay lawyer fees on my own.

Semi Flexi Loan
Rate: to be confirm | Monthly: RM955
The amount fluctuate based on BLR and lawyer fees include in the loan.

Based on your experience for Semi Flexi Loan, is it possible for the monthly commitment increase up to 1.2K monthly.
Your comment and suggestion is highly appreciated

EDITED:
Sorry /k i think i got it wrongly, both loan amount are fluctuated too

This post has been edited by aPiT_OxyMoxy: Feb 17 2022, 12:30 PM

BNM expected to raise interest rate in tandem with US Fed. You take floating rate loan better think ten times

my preference yang fixed punya. sure kah 3.4% fixed for the next 35 years?

i will take semi flexi ;

can pay extra to reduce principal amount (last time need to go counter)

This post has been edited by fantasy1989: Feb 17 2022, 10:24 AM

My first housing loan is Semi Flexi Loan

Highest: RM325
Lowest RM250 which is now

My concern is that with salary increment like peanut, how to cope in the future if the amount fluctuate

if you really have financial constraints ..make sure you buy full term of MRTA ( alot ppl pinjam 35 years ; but MRTA just buy 10 or 15)

incase shit happen ; it wont be burden to your family

This post has been edited by fantasy1989: Feb 17 2022, 10:26 AM

If i may ask, how much is the different after you pay your principal amount.

are we allowed to continuously withdraw our KWSP for this or its just one time?

Based on the banker advice i took 30 years, so got 5 years left to pay on own expenses if anything happen.

If the rate is low enough, then don't pay back so fast

Channel the money for better use

but surely bank side also considered this right...? so the fixed rate also kinda 'priced in this uncertainty' already?

This post has been edited by viktorherald: Feb 17 2022, 10:28 AM

Based on the banker advice yeah it is, i haven't gone thru the full LO yet

Yup agree.

for my case the current rate is RM250 and i still pay RM350 as usual, the surplus they add in into another account.

Once the amount reach RM1,500 i can ask them to reduce the principal

later BNM increase rate few time a year 1.2k above is not a dream.

and 3.4% is not a bad rate. normal term loan around 5-7% depends on industry.

sure semi la . when u got extra can just dump in . unless for the next 35 years ur salary still remain and never get increase lol .

I don't understand your explanation

is it possible to add/increate the term afterwards?
only recently realize this "MRTA only 10yrs" thing

u meant MRTA? i remember can

but the pricing might more mahal because they will take your age as part of calculation

ask your banker

This post has been edited by fantasy1989: Feb 17 2022, 10:33 AM

35 years is a long time in this constantly changing world. With semi loan you have some flexibility to pay additional amount or withdraw from additional fund in the future.

if fixed rate cannot refinance then take semi