Need help from all property gurus

I’m planning to buy a small shop lot priced at RM 140,000. I’ll pay a RM 60,000 deposit, so I only need to borrow RM 80,000.

My question is: if I take a 5-year loan at RM 1,500 per month, is that the same as paying RM 1,500 per month on a 35-year loan? In other words, would the total cost and interest charges be identical, or how would they differ?

hello this is Meybank mortgage services, how can i help

well the loan amount for rm1500 35 years loan will be much larger, that is usually mean for property priced at rm330k or something.

Hmm.. simple maths even ignoring interest… 1500x12x5 =90,000…. 1500x12x35=630,000… did i misunderstand the question ??

Total interest amount will be much larger for 35y loan, but your monthly installment will be much lower. Just go find some loan calculator on the internet and punch in your numbers.

property loan you can take a 10 year loan but settle it in 5 years without paying extra interest as the interest is calculated on your balance, unlike hire purchase you take 7 yar loan pay off in 2 years yet you still need to pay all the extra interest of the 7 year loan.

5 year loan 1,500- you need to put down a higher downpayment, you finish paying earlier, you pay less interest
35 years loan 1,500- you put down a lower downpayment, you finish paying later, you pay more interest

better buy up cash and save documenta8and legal fees

u ask banker u still confuse desway u ask here right

haha

u better don't fomo if u still no sure anything

high risk high return

bank lend you 35 years mean high risk

so 35 years loan is more expensive

Where in god's name u find these shop? 140k? Even lapsap shoplits here in tmalim also cost 400k - 500k not including those facing main road

Can I know what the rental income will be?

Buy from fama possible.🤣

Bank penipu scammer, Bank should work to get you more money not the other way round.

- Dreamer101

Let me rephrase:

For a 5-year loan, I would pay RM 1,500 per month. If instead I take a 35-year loan but voluntarily pay RM 1,500 per month, would the total cost or interest differ?

If there’s no difference, why wouldn’t I choose the 35-year loan for the added flexibility—after all, the minimum payment is only about RM 350 per month?

its the third floor 1500 sqt feet.

It is likely you won't get the loan from most of the bank due to too small amount

If you going to take a loan of 80K only, most likely the bank won't entertain you as the interest they will earn will be very low and not worth the effort.

But you might be able to secure a loan with lower deposit, meaning you take a higher loan amount. But you try to get a flexible loan with day interest. With that once your loan is approved and disbursed, you can "pay upfront" your loan, and your interest payment will be lower

What shop lot cost 140k?
What business to set up?

https://www.propertyguru.com.my/mortgage/ho...loan-calculator

shithole places obviously

correct, there are no difference for most property loan unlike hire purchase car loan.

pay 20% downpayment, take longer loan period, ask for off set loan account or redraw.... get the best interest rate upfront.

put the money in the loan so less interest and you can also redraw the extra you have paid if need money in emergency