Too generic , however a quick check from the loan calculator shall be as following for 30 years tenure 👇



Rule of thumb, the home loan instalment should be cap at 1/3 of your monthly salary .

Hence 1/3 = RM 2245, your monthly salary should be RM 6735.

There always other options :-

1) Go for unit below 300k according to affordability first, slowly upgrade to your dream house as the salary increases over time.

2) Use joint name & joint loan for the property purchase with your life partner/spouse/family

3) Go for longer loan tenure, drag as maximum as possible to lessen the monthly commitment

The main hindrance will be the upfront 10% down payment. Many will have missed out the 5% additional for the SPA, MOT & Loan Agreement. Total 15% upfront cash to be ready.

This post has been edited by nihility: Mar 1 2022, 06:17 AM

deleted. double posted

This post has been edited by nihility: Mar 1 2022, 05:58 AM

Go the Economy Faculty within your university, check if the Economy Faculty of your university is offering any Personal Finance Elective Course, enroll into that class. They will give you the real process of how to do purchase your house from location selection & financing + things to take into considerations.

For the 1st house, normally ppl will buy sub-sale ready to move in. If buy new unit, the monthly rental + loan servicing concurrently will suffocate the young buyer.