Hi guys, i have bought my 1st and 2nd house, now i aim to get 3rd house

As far as i now, for 3rd house the financing is up to 70%

May i know how if there's anyway i can get finance up to 90%

I heard before for joint name with spouse can get finance up to 90%

Later can change back to individual name

Your advice is highly appreciated

This post has been edited by aPiT_OxyMoxy: Nov 7 2023, 11:33 AM

No, unless commercial title house? My 3rd house approved with 90% loan but then was revised to 70% once signed off the agreement.

Correction, it's 3rd financing instead of 3rd house so long you have existing 2 financing
/ mortgage then 3rd residential will be max 70%. Not recommended for joint loan as it typically used up 1 90% quota unless it's to boost the financing margin

Workaround is to refinance to AXX to release your 90% LTV

may i know what's the cause they change back to 70%? is it because 3rd house?

ya, was a third house. So auto capped at 70%

i see, thanks for sharing

If your 1st house and 2nd house settlement either one you can still entitled 90%

You can refinance 1 of the property under bank loan to insurance company loan, will take off 1proeprty from ccris then enable you take 90% Loan.

Consolidate your 2 property loan into 1 loan, so that you have second 90% quota. But need strong dsr and timing

This is so far what I know to get 90%.

Workaround is to refinance to AXX to release your 90% LTV

[/quote]

Yes.
It is true.
Use AXX as financier will get 90% LTV

Good idea, never thought of consolidate loan

[quote=sjteh,Nov 7 2023, 02:37 PM]
Workaround is to refinance to AXX to release your 90% LTV

[/quote]

Yes.
It is true.
Use AXX as financier will get 90% LTV

[/quote]

may i know what AXX stand for

Bro
from which financial or banking provided this services consolidation?

solution 1:
take out all money from ur and ur wife EPF acc2 + ur cash to settle 1 of the current house loan
den you can get 90% for ur third house loan

solution 2:
use ur wife name to buy the house and getting the loan, if ur wife got any car loan /personal loan or watever loan, settle it so ur wife finance profile can hit the monthly repayment after deduct that 10% deposit

solution 3:
work harder, get that 30% downpayment ready, cut ur entertainment, cut all expenses, wifi downgrade to lowest package, save $ save $ save $

Thanks for the advice, i'm looking at first solution, instead of adding up new loan, settle 1 first

[quote=aPiT_OxyMoxy,Nov 7 2023, 01:52 PM]
Yes.
It is true.
Use AXX as financier will get 90% LTV

[/quote]

may i know what AXX stand for

[/quote]

Insurance financial AIX…….
Similar route with a famous local chubby chubby youtube property KOL

Anyone knows if the 3rd house 70% rule also applies to service apartment considering it’s commercial land?

Yes, Its Commercial under HDA (housing development act)

only sovo, sofo, office lot suite, shoplot, those under commercial land without HDA, mean maximum 85% loan can be applied. is the real commercial title property without used your 3rd property 70% rule

Wondering how people can buy so many properties (besides compression method). Keep refinancing or cash rich?

30% rebate project, or pure cormmercial title property for DSR quota 3rd property 70%

for income / DSR wise, Rental cover installment by all mean. so the things will be like this

Example:

Installment 2000

Rental 2200

real cost can be exception from tax
loan interest
maintenance fee
misc cost involved for rental business

Just not declared all the cost, so you take pure rental income 2200 x 80% (6month with stamping spa)

1760 extra income
2000 loan - 1760 = 240, you just spent 240 for 1 property

just an example, if you can make the rental even higher, then you are able covered the DSR, so by this matter DSR calculation game, you can unlimited leverage bank loan.
so the effort will be where to find this kind of property.

and need to bear the over leverage bank loan game risk.

- delete - duplicated post from above

This post has been edited by Aldo-Kirosu: Nov 7 2023, 11:20 PM

it depends on the bank on this for some bank they only take 50% from the rental income

for my case i markup my rental, make it 3 month statement, with tenancy agreement and LHDN stamping

it works for me to get 2nd house to lower down my DSR

now my challenges is to get 3rd house, maybe i need to do full settlement 1st house or top-up loan

and one new suggestion is loan consolidation