QUOTE(mark0411 @ May 18 2008, 09:51 PM)
Hi Guys,
I've just paid the deposit for a house at Saujana Utama 3 (developed by Glomac). The property price is 313k and it is still under construction.
Congrats
QUOTE(mark0411 @ May 18 2008, 09:51 PM)
Would i be able to secure the loan if my gross salary is 4600 and my fiancee gross salary is 2300 + 700(overtime). I'm looking at 90% margin of financing and the loan tenure should be 35 years.
Getting a loan at 90% should not be a problem . Maybank has always been a bit rigid so check with CIMB and PBB, as I chat with them recently and they say they got no issues with changing employments.
I strongly recommend that you dont take loans that is longer than 30 years as the interest oayout would be substancial and I guarantee u'll regret this 2-3 yeasr down the road. Try performing an analysis of a 30 & 35 year loan respectively and u'll see what I meant.
QUOTE(mark0411 @ May 18 2008, 09:51 PM)
The other question that i have is, i haven't confirmed my employment with my current company, will that be a problem since i don't have confirmation letter from the company? FYI i will be joining another company on June which offer 5000 base salary + 600 allowances.
Put your GF as the main borrower, and you as the secondary borrower/guarantor. That should solve it.
QUOTE(mark0411 @ May 18 2008, 09:51 PM)
Lastly, for property that is under construction, does any particular financial institution have any loan package that will waive the 1st year payment?
GO for first year 0% loans, and think UOB and stanchart has that package.
Btw, as a reminder, try to purchase the property alone since you could afford it. She's not your wife yet, so things can be very complicated if it didnt work out between the 2 of you. I've seen many cases b4, so Im telling u this as a pre-caution.