Hi,

I will be purchasing my first home....currently i am looking at this apartment call Villamas in Puchong ....partial furnish@1157sqf ....the owner is letting it go for Rm185k

most probably i will be going for 150k loan ...need some advise on bank loan as i have not done any research on bank loan yet ....i plan to do a Graduated payment scheme (i dont know if thats how you call it).....i was told that this scheme starts off with lower payment rates and gradually increase later on ...i am hoping to take up a 15 years loan ....what bank do you guys suggest ?

try AIG or ING fixed loans. or u got the time, get urself a copy of personal money and u do the comparison of loans there.

there is a table of different bank loan, and what the repayment like and so forth.

i got a friend who is working with house loan ....he manage to get a deal for me for BLR -2.05 fix rate for 15 years....what do u guys think of this rate ?

not bad. but after 15years? what will be the rate?

u have to consider the other chargers involve.

mine is BLR-2 whole tenure

ohh....my whole tenure will be 15years ...i told him that i wanna do a full payment in 15 years ....and that is his charges....i think its quite reasonable ...

@Fusion,
Can he give me better rate for RM600k loan?

600k loan ??...hmppp...i m not sure ...i pm u his contact ....

@Fusion,
It's oK lah - I'm fed up talking with bankers! Am going to strike the lottery this weekend and pay it off in cash !! LoL. Thanks anyways

Not sure why you want to take up 15 years loan when you can get 40 years for graduate loan. You should understand that you may have difficulty getting financing in the future if your monthly commitment is high.

u r still young... go for 20-30 yrs loan...if u r rich enuf to pay up in 15 yrs.. y not get another property...

it's better to spread ur risk in 2 properties rather than investin in 1...

@cuebiz,
I am still working out the best option. I aim to repay the bank within 10 years but taking a longer loan period might just give me the option to purchase the 2nd and 3rd or 4th property or even a new car *grins*

which floor r u buying ? my sis has 1unit there...i saw the adv there many unit letting go around 170K +++ wor...

This post has been edited by tzeyin: May 15 2008, 10:50 PM

will be getting the 11th floor ....partial furnish and its going for RM185 cos of its the largest unit there n the furnishing is quite good ....

i thought of getting 30 years but it just doesnt seem worth it cos i will b paying bout RM850 for 30 years and if i take up 15 years loan ...i will b paying bout 1.2k only ....its another 350 but i cut the loan down to 1/2 time ....save A LOT of money that way .....probably in another 5-10 more years i will be able to start of with my second property .....

get a flexi loan, drag the loan tenure to 30yrs but u can pay up earlier when u hav money to chip in, at least ur monthly commitment is 850 with the option of putting in more.

ur bank officer should be able to print out a comparison chart to show u how. if they don't , PM me for one.

really ??....ohhh...thanks bro ...will be meeting up with my some of the banks nex tuesday ......i will probably go for a flexi loan cos if i might wanna complete the loan before the tenure date....

Flexi loan with max tenure is much better than 15yrs tenure. What if something happen midway and u can hardly afford the repayment? With 30yrs tenure, the repayment is lower and the extra repayment u made reduce the principal owed thus reducing the interest you need to pay as well.

Tinker : 600k loan eh? You should easily get some good deals around not? (Atleast in JB, bankers will be fighting for your business, i know i will)

This post has been edited by ed0gawa: May 16 2008, 01:34 PM

@ed0gawa,
You left MediaBanc to sell loans? *grins* I don't think bankers are fighting for my business; I haven't heard from many other than Standard Chartered. Admittedly, I haven't been too 'hardworking' trying to get more information. Guess I see no rush for now.

Am sure a lot of people here have loans in bigger sums; they just don't talk about it

darlink,

i hav OCBC n UOB contacts.

@yewkhuay,
I know U do *smiles* But I don't want to think about the home loan now, perhaps we should speak about it tonight huh?! *grins*

You can only save money with the interest rate, not by shortening the loan tenure.

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Added on May 16, 2008, 11:24 pmYou should realise that you need to pay a setup fees and monthly fees for the current a/c for flexi loan. I am not sure if flexi loan rate nowadays is higher than conventional term loan. You have to check with the bank officer

Anyway, most banks also allow you to have capital prepayment if you opt for conventional loan.

This post has been edited by cuebiz: May 16 2008, 11:24 PM