Loan 350k
Today outstanding: 320k
Already served 6 years plus, 1500 monthly

6 x 12 x 1500 = 108k
108k - 30k = 78k

Bank already earned 78k interest from me, bloody hell
Gov should do sthg, how can house loan be so expensive...

U x sukak u bayar cash

Then stay in jungle build own hut

compound interest is the 8th greatest wonder of the world

That's how bank earn your money. If u got extra, just proceed with principal reduction.

if flexi loan. park all ur extra money inside

btw assuming you loan 350k at 4.15% with tenure 35 years. thats come about 1.6k a month. total interest paid to serve 35 years is 314k.

if u pay extra 1k a month, your tenure is cut off by 20 years roughly . you will settle your loan around 15 years with total interest paid roughly 120k.



This post has been edited by sheahann: Oct 10 2023, 09:34 AM

Unker ppr in 2013 buy only rm218k.

Monthly supposed to be rm1100 wonly.

But pay rm2k monthly now.

Currenlt principle left rm66k wonly.

Hope can fully settle within the next 2-3 years.

Just grow pubic hair ah TS?

now this is smart move

Want to ask ya if I put more money inside...it only reduces the loan duration right? Not the loan amount monthly right?

Friend...Bank also need to make money, to pay their staff and everyday expenses.

Nobody would give you loan if no profit.

I think the formula should be if you take a 350k loan, expect to be paying double the amount Loan + interest = 700k or more until your loan period ends.

First, banks are NOT your friends. Whether is GF, wife, or FWB, they will suck u dry like a vampire.

Second, banks are answerable to their shareholders. Profits are the only word they want to hear.

Third, don't ever commit to a loan if you're not prepared. Either save more or work 3 or more jobs to earn more income.

if maybank how to pay principal ?

it reduce the interest you need to pay for each month. in other word, your instalment contribute more toward principal amount

Siapa suruh miskin? Bank got point gun to your head to sign agreement?

loan sharks have their heyday over this

Aiyo.

Add in principal payment la...

I made the same mistake earlier

Please dump in more money until you unable to eat to settle loan first

x sukak... jadi slave to debt... sewa rumah jer la...

topkekk... pepolz nowadays during recession buy house,
90% downpayment... 10% loan... you go the other way for what??

Actually, there's nothing scary, if you dont plan to do early settlement.. whatever numbers shown, your installment numbers remain fixed (25/30 years or whatever duration you had chosen).

This post has been edited by zeese: Oct 10 2023, 09:34 AM

even org asli now complaining in kelantan due to pembalakan

jungle also getting less.

first time..?

bank: terima kasih

if have extra cash pay extra lor

That is why there is a movement where people prefer to just rent then own a property. Gives them a lot more freedom.

Same if you ask anyone else to loan you a lump sum 350K.
Of course your interest is levied to your principal sum owing 350k from day 1.

That's how it works because you bought a sum owing.

Principal reduction is the math here. All the best.

This post has been edited by jojolicia: Oct 10 2023, 09:49 AM

TS bodo ke buat bodo.

dah la miskin lagi mau buy rumah. sewa kan ade

owai

But the monthly amount dont change right?

yes it is the same

Redeem the loan kalau you tak suka bank untung banyak

House loan should follow car loan, max 9 years and fixed interest. Today bought Benz 300k loan 9 years also not this expensive. How come house loan interest so high than car?

kesian

gov have a vested interest with banks
they tax the transactions
and they tax the income of banks
buy something less than 100k
pay cash

borrow 100k, fully paid add 200k thats normal.


unless you convert into 4 year loan

not scary, just your income small

das why unker service first 5 year double payment
interest will be cut by alot by then

Rather than gomen do something, you can do something immediately.
Pay more than then minimum RM1500 that's required.
Try RM2000 or RM2500.
It will make a big difference on interest.

This.
Sorry bro, do excuse my itchy hand for clarity to your statement.

<it reduce the interest you need to pay for each month. in other word, your instalment contribute more toward principal reduction>

This post has been edited by jojolicia: Oct 10 2023, 09:46 AM

B40 don’t buy house. Just rent.

just wait till interest rate naik kaw2

Thats why unker buy 4 acres of land with pertanian status.........when cheap only cost 360k.....build house with 5 rooms 20X25 02 halls 30X25..02 parking garage....3 porch.....

all without the hassle of approval from local counsil because of the status of the land..........and best of all it only cost me 160k.....

Be like me.. every 100k disbursement during building. Pay up 90k. Let bank earn only the 10k principal interest. Then after collect key interest very low only

Kebodohan TS terselar

it just means you can settle loan faster if you keep that money park there.

I baru angkat a 530K loan, same deal RM2.5K/month. I plan to park lots of cash inside to reduce it. I think after few years i sekaligus settle.

the first half tenure of loan is mainly to pay the interest. after that only you'll start to see the principal amount reducing fast

High? Try taking a 30-year car loan for that 300k Merc and see how much interest you will pay.

You are the one who is sohigh.

Based on TS numbers, it seems like 36 year loan @ ~3.9% interest. Interest is always highest at earliest point of loan. At full repayment, one would have paid $306k in interest.

In order to reduce interest payable, consider take up shorter loan duration (max 15 years), higher repayment amount and/or lower loan quantum.

Otherwise, bank say thank you for working for bank.

This guy really dunno how to use brain and see the calculation.
Dun tell ang mo you are asian mempersiasuikan

Correct. Many don't buy my suggestion in playing the 'zeroried' game specially if you are buying U/C. More so in highrise, one has 48 months to strategies and pan this out. Some said its a no brainer opportunity cost lost wor.

Even you don't get the net 0 by VP, it will be a milestone to achieve, say 30-50% total principal sum owing is good enough to collect your new keys

Believe me, the 'zeroried' leveraging game is very addictive (if you tasted the drug). In no time, you will be on your next leverage.

This post has been edited by jojolicia: Oct 10 2023, 10:09 AM

TS like my friend, said paid more than 10 years for housing loan, last few year go check principle only reduce less than 50k. Then kpkb.
Ask him pay more monthly, he keep quiet.

The best part is monthly TNB bill more than the housing loan

Got kids, 1 breeding dog, outside eat dont really care the price.
YOLO more important

apa lanjiao TNB bill more than housing loan

Unker also count unker House loan...
Loan 300, after finish 30 year...
Pay around 1 million....
Don't know how...

Duplicate...

This post has been edited by moiskyrie: Oct 10 2023, 10:09 AM

if the loan interest is less than epf interest, better park in epf.

kena cekik darah ke or kena forced signature?
walaupun hidup berpuluh tahun kalo ...

press X

kena scam on rates? typically its double only. loan 300k, pay around 600k

The banks are very sneaky. You pay more interest than principal the first 1/3 of the loan duration and then slowly reduce. That's why first 10 years your principal don't reduce much.

They know majority investors will sell off property within this period so they already earn enough from your interest. That's how banks are legal loan sharks.

Do you know how long bank need to wait to complete for yours to pay your loan?

BNM is play safe. US already stop interest hike and aiming for reduce interest rate next year. While Malaysia remains as pre-covid era at 3% OPR.

If interest naik also maybe max to 4%

Impossible unless got prawn behind rock.

Even average 8% interest rate for this loan pun won't need to pay so much.

Rent for life then.

Nobody owes you a living.

Takkan you expect them to cough up hundreds of thousands at risk of you not paying, only to earn peanuts when you sell?

But tanah status pertanian right

If you sell the house also under status pertanian? Not legit for residential development

lucky you... so little loan.

my loan last time 300k, now like multiple the loan amount, refinance and refinance....

so u flush before shit is it

sudah sign agreement baru nak check

bingai

If got extra buy bank shares.

This I agree. Gov should do something.

This will free up a huge sum for people's spending and in many ways will spur the economy also in the end.

Sometimes i don't understand those "buy properties for investment".

mostly making lost anyways. Property appreciation is practically none now.

Bank is legal ah long

TS speaking like only today he discovered gravity

alot of them are banging for capital gain
for example, a house priced at rm 300k, so they are "hoping" can sell it at 500k or higher in future time

suka suka apply and sign document without doing enough homework

padan muka ts

Bank also give high interest for FD. If not bank makan apa?

OPR still very low. Lucky already

im pretty sure there are some extra park in advance payment...did you check your statement to confirm that?

Don't know,
See dashboard show still own bank almost 1.1 million...
Already pay for 7 years....

Interest pre covid, but the amount need to pay more that pre covid......

Don't know...
Bank dashboard show I still own 1.1 million....
Borrow 300k...
Pay 7 years already.....

well...someone's gotta earn...

and the idea is ...not you.

U no money buy house, who borrow you money..??

for house loan, banks will always use your installment for interest first.

my mbb house loan pay for 10 years, principal also reduce little bit only.

Islamic loan? I was told Islamic loan displays different amount of balance compared to conventional but not sure how much difference.

cash is king problem solved

as long as you can rent out and your rental can cover loan you are not really losing in the long run

you buy off the plan brand new, then you going to take the depreciation hit la

Now Bang Nuar gonna remove the subsidy, then at least help us to reduce our house loan. Just set bank max can only charge 50% interest of the house loan amount. Problem solved, all happy

that's the standard mortgage calculation for fixed installments.
unless bank allowed you to have reducing installment, you can't have same fixed portion for interest and principal.

like how?

u can't exactly fix the interest rate

otherwise those Rating agencies like Standard & Poor will be after our ass, and downgrade us?

if your loan type is not Flexi or Semi-flexi then you cant...
If your loan are those flexi. you will see extra amt paid in online Maybank, loan screen

While we're at it, why not ask to increase our employer EPF contribution to 50% too?

pergi tinggal hutan la setan

kan ade rent . owai

If apply semi flexi loan 300k and put cash 300k park into that flexi loan acc then still will kena interest??
Emergency time still can cash out from that acc jz charge abit only .

math failed.

totally failed

IF ONLY they let u put 100% of your loan amount lol.

The standards are fixed by the banks. If they want to change it they can but they won't.

I'm saying they skew too much in the banks favor. You're paying around 90:10 interest vs principal during the first few years of the loan.

Many people have impression that housing loan is similar to hire purchase. The banks want profit but this is too greedy. If ah long do this everyone condemns but if banks then it is ok.

Then wat is the max % allow to park into flexi loan acc?

Bank daily profit is Rm22million ya. Almost Rm1mil every hour


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Now only u know.. u got take mco moratorium also?