Welcome Guest ( Log In | Register )

Bump Topic Topic Closed RSS Feed
154 Pages « < 24 25 26 27 28 > » Bottom

Outline · [ Standard ] · Linear+

 Latest mortgage rate for housing loan packages, All Mortgagers are welcomed to post...

views
     
idoblu
post Jul 10 2009, 09:13 AM

stars for sale
********
All Stars
11,308 posts

Joined: Feb 2008
» Click to show Spoiler - click again to hide... «




it depends on how you look at it.

if you bank one month's installment at the due date, that means you are paying interest for the full month. But if they deduct a weekly installments to pay in advance that one month's interest and principle, then of course, weekly is better.

ok like this -

Normal Payment - Due date - Jan 31st - your installment is rm1339. <<<----You only bank in money on Jan 31st
Weekly - For the weekly deduction to work, you would need to bank in 334.75 every week for the month of Jan - you would save just a little bit cause you are paying it off early by one week each time. Remember this money goes to a savings account then automatically deducted weekly to pay the housing loan. This weekly thing I think its good for hawkers etc that get their earnings on a daily basis.
Backkom
post Jul 10 2009, 09:28 AM

Casual
***
Junior Member
421 posts

Joined: Jun 2009
QUOTE(yssee85 @ Jul 10 2009, 07:41 AM)
You forget to calculate the petrol needed for 4 trip.

Added on July 10, 2009, 7:46 amsaving extra few bucks, with a lot of harassment. =.= unless you are really free.
*
That's not a problem - just set up standing instruction via online banking tongue.gif
Wanna pay everyday also can...
temptation1314
post Jul 10 2009, 09:30 AM

Specials : 1,000,000 Spam Post Attack
*******
Senior Member
2,287 posts

Joined: Jun 2007
From: Anno Domini Time Ultra: 1,000,000 Trans Am Attack!
Will need to walk-in CIMB bank to ask about the refinance... Webby doesn't explain all..

I'm currently refinance to get extra cash to help family. Any suggestion which bank is better to go for?
exhausted
post Jul 10 2009, 11:38 AM

Getting Started
**
Junior Member
94 posts

Joined: Apr 2006
QUOTE(idoblu @ Jul 9 2009, 10:30 PM)
less than 5 days
*
depends on bank. i got my loan approved by ocbc just on the 2nd day of submission. pbb 7th day also no news.
fookeesan
post Jul 10 2009, 12:02 PM

Getting Started
**
Junior Member
140 posts

Joined: Aug 2007
[quote=yssee85,Jul 10 2009, 01:13 AM]
Correct me if i'm wrong, you'll get RM100k+ from AIA after you finish your payment rite?

nope...... any 1 can pm on the rates to refinance?
Mikken
post Jul 10 2009, 03:15 PM

#
******
Senior Member
1,092 posts

Joined: Mar 2008
Always buy top floor when buying condo for investment

The pricing of condo by most developers is that as you go higher, the price will be higher. Some buyer choose higher floor because of better view and some investor will choose lower floor or not so high floor to take advantage of cheaper price. But are higher floors more expensive as far as investor is concerned, to me, it is not really so. The higher floor is costlier and not necessary more expensive. As the buyers are billed by developer according to stages of completion. The first 10% being upon signing of sale & purchase agreement, the second 10% being upon completion of foundation and the third 15% being upon completion of structure. If one is taking a 80% loan for the purchase of condo and if he is buying a top floor, then he may only need to pay 20% and loan release will only take place when the construction of structure reach top floor, thus saving on substantial amount of interest payment. If one is buying low floor, the billing for completion of structure and all subsequent billings will be much earlier and interest charges will incur. Therefore if an investor is buying lower floor, he will incur higher interest charges whereas if he buys higher floor, he has to pay a higher purchase price but buying higher floor offer an advantage in term of better cash flow for the investor as if the investor is taking only 80% loan, he may only need to service the loan when the overall structure is almost completed, i.e. when the overall project is probably 50% completed and the number of months where interest is charged till completion is also less considering that the remaining construction time needed is much shorter compared with if one is buying lower floor

How true is this statement? Anyone care to enlighten me?
yssee85
post Jul 10 2009, 04:10 PM

Getting Started
**
Junior Member
65 posts

Joined: Jul 2008
From: Kl- ampang & cheras
QUOTE(Backkom @ Jul 10 2009, 10:28 AM)
That's not a problem - just set up standing instruction via online banking  tongue.gif
Wanna pay everyday also can...
*
fuyoh, online banking ^^, eon bank kena hack last few month for their online banking.
ops... it was on newspaper?? shouldn't talk so much of banking secrecy.
brows.gif brows.gif brows.gif

Added on July 10, 2009, 4:25 pm
QUOTE(Mikken @ Jul 10 2009, 04:15 PM)
Always buy top floor when buying condo for investment

The pricing of condo by most developers is that as you go higher, the price will be higher. Some buyer choose higher floor because of better view and some investor will choose lower floor or not so high floor to take advantage of cheaper price. But are higher floors more expensive as far as investor is concerned, to me, it is not really so. The higher floor is costlier and not necessary more expensive. As the buyers are billed by developer according to stages of completion. The first 10% being upon signing of sale & purchase agreement, the second 10% being upon completion of foundation and the third 15% being upon completion of structure. If one is taking a 80% loan for the purchase of condo and if he is buying a top floor, then he may only need to pay 20% and loan release will only take place when the construction of structure reach top floor, thus saving on substantial amount of interest payment. If one is buying low floor, the billing for completion of structure and all subsequent billings will be much earlier and interest charges will incur. Therefore if an investor is buying lower floor, he will incur higher interest charges whereas if he buys higher floor, he has to pay a higher purchase price but buying higher floor offer an advantage in term of better cash flow for the investor as if the investor is taking only 80% loan, he may only need to service the loan when the overall structure is almost completed, i.e. when the overall project is probably 50% completed and the number of months where interest is charged till completion is also less considering that the remaining construction time needed is much shorter compared with if one is buying lower floor

How true is this statement? Anyone care to enlighten me?
*
There are several extra factor to calculate in, Location, Developer,and Market demand.
For me, the reason to go higher floor is because, the project is nearing a completion, the risk is lower compare to a 10% completion project.
Developer might bankrupt, blacklisted, bla bla bla... and about the interest charge, usually undercon, interest = 0% for the period of construction.
Enjoy, happy investing.

another issue on investing property.
Usually margin of loan is base on market value.
Sometime demand is higher than market value.
And exp, Wangsa metroview, Valuer will only give a valuation of RM 245k, but people will only sell it for RM 300k -RM 310k.
These case gave me a big headache. rclxub.gif

This post has been edited by yssee85: Jul 10 2009, 04:25 PM
junwen80
post Jul 10 2009, 04:30 PM

New Member
*
Junior Member
23 posts

Joined: Jun 2009
QUOTE(Mikken @ Jul 10 2009, 03:15 PM)
Always buy top floor when buying condo for investment

The pricing of condo by most developers is that as you go higher, the price will be higher. Some buyer choose higher floor because of better view and some investor will choose lower floor or not so high floor to take advantage of cheaper price. But are higher floors more expensive as far as investor is concerned, to me, it is not really so. The higher floor is costlier and not necessary more expensive. As the buyers are billed by developer according to stages of completion. The first 10% being upon signing of sale & purchase agreement, the second 10% being upon completion of foundation and the third 15% being upon completion of structure. If one is taking a 80% loan for the purchase of condo and if he is buying a top floor, then he may only need to pay 20% and loan release will only take place when the construction of structure reach top floor, thus saving on substantial amount of interest payment. If one is buying low floor, the billing for completion of structure and all subsequent billings will be much earlier and interest charges will incur. Therefore if an investor is buying lower floor, he will incur higher interest charges whereas if he buys higher floor, he has to pay a higher purchase price but buying higher floor offer an advantage in term of better cash flow for the investor as if the investor is taking only 80% loan, he may only need to service the loan when the overall structure is almost completed, i.e. when the overall project is probably 50% completed and the number of months where interest is charged till completion is also less considering that the remaining construction time needed is much shorter compared with if one is buying lower floor

How true is this statement? Anyone care to enlighten me?
*
Yes. It is true regarding the progressive interest paid during construction period. Partial disbursement of your loan to the developer from your financial institute will only began as it reached your parcel structure, said 30% of the loan amount. Then you need to start paying interest for that particular 30% until completion. Of course, you may need to pay interest for 20-30% loan dedicated to completion of groundwork, piling etc (bank has released the amount to developer, so they start to charge you interest for the monies they drawout). You may check the schedule of payment.
onnying88
post Jul 10 2009, 09:42 PM

Look at all my stars!!
*******
Senior Member
2,663 posts

Joined: Feb 2008
QUOTE(Mikken @ Jul 10 2009, 03:15 PM)
Always buy top floor when buying condo for investment

The pricing of condo by most developers is that as you go higher, the price will be higher. Some buyer choose higher floor because of better view and some investor will choose lower floor or not so high floor to take advantage of cheaper price. But are higher floors more expensive as far as investor is concerned, to me, it is not really so. The higher floor is costlier and not necessary more expensive. As the buyers are billed by developer according to stages of completion. The first 10% being upon signing of sale & purchase agreement, the second 10% being upon completion of foundation and the third 15% being upon completion of structure. If one is taking a 80% loan for the purchase of condo and if he is buying a top floor, then he may only need to pay 20% and loan release will only take place when the construction of structure reach top floor, thus saving on substantial amount of interest payment. If one is buying low floor, the billing for completion of structure and all subsequent billings will be much earlier and interest charges will incur. Therefore if an investor is buying lower floor, he will incur higher interest charges whereas if he buys higher floor, he has to pay a higher purchase price but buying higher floor offer an advantage in term of better cash flow for the investor as if the investor is taking only 80% loan, he may only need to service the loan when the overall structure is almost completed, i.e. when the overall project is probably 50% completed and the number of months where interest is charged till completion is also less considering that the remaining construction time needed is much shorter compared with if one is buying lower floor

How true is this statement? Anyone care to enlighten me?
*
I think for condo, it's using overall project progress to determine the project % builded and request release money from the bank.
For example,
Upon sign S&P, charge 10%
Upon completed the all foundation, all will be charge for 20%
Upon Finished all the main backbone structure, another 30%
Upon finish all the walls,facilities, and remaining, another 40%
So total 100%

So no different for top or bottom floor. This is what i think of. smile.gif

Anyone who know the comfirm answer, please let us know too.
idoblu
post Jul 10 2009, 09:57 PM

stars for sale
********
All Stars
11,308 posts

Joined: Feb 2008
QUOTE(Mikken @ Jul 10 2009, 03:15 PM)
Always buy top floor when buying condo for investment

The pricing of condo by most developers is that as you go higher, the price will be higher. Some buyer choose higher floor because of better view and some investor will choose lower floor or not so high floor to take advantage of cheaper price. But are higher floors more expensive as far as investor is concerned, to me, it is not really so. The higher floor is costlier and not necessary more expensive. As the buyers are billed by developer according to stages of completion. The first 10% being upon signing of sale & purchase agreement, the second 10% being upon completion of foundation and the third 15% being upon completion of structure. If one is taking a 80% loan for the purchase of condo and if he is buying a top floor, then he may only need to pay 20% and loan release will only take place when the construction of structure reach top floor, thus saving on substantial amount of interest payment. If one is buying low floor, the billing for completion of structure and all subsequent billings will be much earlier and interest charges will incur. Therefore if an investor is buying lower floor, he will incur higher interest charges whereas if he buys higher floor, he has to pay a higher purchase price but buying higher floor offer an advantage in term of better cash flow for the investor as if the investor is taking only 80% loan, he may only need to service the loan when the overall structure is almost completed, i.e. when the overall project is probably 50% completed and the number of months where interest is charged till completion is also less considering that the remaining construction time needed is much shorter compared with if one is buying lower floor

How true is this statement? Anyone care to enlighten me?
*
Half true! You only pay the percentage according to what has been done to your own floor. But I guess if you are on the lower floors, you would have incur more progressive interest waiting for the higher floors to be completed but not by much la.



This post has been edited by idoblu: Jul 10 2009, 09:59 PM
Invinsible-Pp
post Jul 11 2009, 01:29 AM

New Member
*
Junior Member
30 posts

Joined: Feb 2008
ALLIANCE ISLAMIC PRODUCTS


Zero Entry Cost



Loan amount below RM300,000

1st year - 3.00 % p.a
2nd year onwards - B-2.15 % p.a

Loan amount RM300,000-RM800,000

1st year -2.75 % p.a
2nd year onwards -B-2.25 % p.a

Loan amount RM800,00 above

1st year -2.65 %
2nd year onwards -B-2.35 %



Lock-in period- 5 yrs/3 %

MUDHARABAH Current Account- PROIT RATE CAPPED AT 0.05 % p.a

Loan tenure- up to age 75 years / 35 years tenure, whichever is earlier


`LETTER of Offer via my hand guarantee will come out as above, if any parties does not bliv, try to summit via me..tq
Beside this we as well offer flexi and term loan with ZERO ENTRY COST.

PM me for more info, question are welcomed



--------- Faint not , Fight on-------------------
merce
post Jul 11 2009, 02:42 AM

Casual
***
Junior Member
474 posts

Joined: Nov 2007
QUOTE(Mikken @ Jul 10 2009, 03:15 PM)
Always buy top floor when buying condo for investment

The pricing of condo by most developers is that as you go higher, the price will be higher. Some buyer choose higher floor because of better view and some investor will choose lower floor or not so high floor to take advantage of cheaper price. But are higher floors more expensive as far as investor is concerned, to me, it is not really so. The higher floor is costlier and not necessary more expensive. As the buyers are billed by developer according to stages of completion. The first 10% being upon signing of sale & purchase agreement, the second 10% being upon completion of foundation and the third 15% being upon completion of structure. If one is taking a 80% loan for the purchase of condo and if he is buying a top floor, then he may only need to pay 20% and loan release will only take place when the construction of structure reach top floor, thus saving on substantial amount of interest payment. If one is buying low floor, the billing for completion of structure and all subsequent billings will be much earlier and interest charges will incur. Therefore if an investor is buying lower floor, he will incur higher interest charges whereas if he buys higher floor, he has to pay a higher purchase price but buying higher floor offer an advantage in term of better cash flow for the investor as if the investor is taking only 80% loan, he may only need to service the loan when the overall structure is almost completed, i.e. when the overall project is probably 50% completed and the number of months where interest is charged till completion is also less considering that the remaining construction time needed is much shorter compared with if one is buying lower floor

How true is this statement? Anyone care to enlighten me?
*
depends on how u look at it...

as far i'm concerned... season investors seldom invest on the highest floor.

probably the 2nd or the third highest, but never the highest.

1)highest floor means you are just on the roof bottom, also means u r the 1st level of exposure if there's a leak during a storm or rainy days.
2)Heat... no matter how good the heat insulation are constructed, u r still next to the roof top.
3)Radio & satellite dishes, harmful waves etc etc?

my 2 cents.
tgrrr
post Jul 11 2009, 11:11 AM

Enthusiast
*****
Senior Member
939 posts

Joined: Jan 2003
From: Penang
QUOTE(yssee85 @ Jul 10 2009, 04:10 PM)
And exp, Wangsa metroview, Valuer will only give a valuation of RM 245k, but people will only sell it for RM 300k -RM 310k.
These case gave me a big headache. rclxub.gif
*
Wow are you sure Metroview is selling for so high? Sounds a bit unrealistic but I haven't been keeping myself updated.



QUOTE(onnying88 @ Jul 10 2009, 09:42 PM)
I think for condo, it's using overall project progress to determine the project % builded and request release money from the bank.
For example,
Upon sign S&P, charge 10%
Upon completed the all foundation, all will be charge for 20%
Upon Finished all the main backbone structure, another 30%
Upon finish all the walls,facilities, and remaining, another 40%
So total 100%

So no different for top or bottom floor. This is what i think of. smile.gif

Anyone who know the comfirm answer, please let us know too.
*
No that's not right.
For foundation and piling stuffs that's "common" to everyone, those will be charged to all purchasers.
However for the walls, and stuff related to individual units, you'll only be billed right after they build it. They certainly won't wait till the finish building everyone's wall before they start billing you.
That's from a first hand experience btw.
Oh and that's why those package with very low interest only on first few years are misleading.

Added on July 11, 2009, 11:12 am
QUOTE(Invinsible-Pp @ Jul 11 2009, 01:29 AM)
» Click to show Spoiler - click again to hide... «
What's the maximum loan margin for this package?

This post has been edited by tgrrr: Jul 11 2009, 11:12 AM
Homerun
post Jul 11 2009, 12:13 PM

Getting Started
**
Junior Member
199 posts

Joined: Jan 2003
helo.. anyone can comment how long will a bank loan lawyer takes to process the documents till completion? is it possible to settle all the stuff in 2months? thanks
serenayap
post Jul 11 2009, 12:48 PM

Getting Started
**
Junior Member
128 posts

Joined: Apr 2006
just wanna ask normally how long does is take for the bank release the loan after the stamping done.thanks.

Added on July 11, 2009, 12:49 pmjust wanna ask normally how long does is take for the bank release the loan after the stamping done.thanks.

This post has been edited by serenayap: Jul 11 2009, 12:49 PM
yssee85
post Jul 11 2009, 02:45 PM

Getting Started
**
Junior Member
65 posts

Joined: Jul 2008
From: Kl- ampang & cheras
QUOTE(tgrrr @ Jul 11 2009, 12:11 PM)
Wow are you sure Metroview is selling for so high? Sounds a bit unrealistic but I haven't been keeping myself updated.
No that's not right.
For foundation and piling stuffs that's "common" to everyone, those will be charged to all purchasers.
However for the walls, and stuff related to individual units, you'll only be billed right after they build it. They certainly won't wait till the finish building everyone's wall before they start billing you.
That's from a first hand experience btw.
Oh and that's why those package with very low interest only on first few years are misleading.

Added on July 11, 2009, 11:12 am
What's the maximum loan margin for this package?
*
100% sure, its our customer actually, the agree selling price is RM 290k, in 1 week period,
the owner change his mind to RM 310k. the rental income is at RM 1200- RM 1500, just the master room already renting for RM 600.(renovated)
The problem we face is margin of loan is base on market value.
=.= headache, rclxub.gif ,
i've check the market value, its actually at RM 245k -RM 260k only.
But market demand and market value is different thing.

Added on July 11, 2009, 2:49 pm
QUOTE(Homerun @ Jul 11 2009, 01:13 PM)
helo.. anyone can comment how long will a bank loan lawyer takes to process the documents till completion? is it possible to settle all the stuff in 2months? thanks
*
usually 3-5 month, see which lawyer firm lo...



This post has been edited by yssee85: Jul 11 2009, 02:57 PM
Homerun
post Jul 11 2009, 11:19 PM

Getting Started
**
Junior Member
199 posts

Joined: Jan 2003
wow, 3-5months? then i will be charged for the interest by the seller la!!!!
Invinsible-Pp
post Jul 11 2009, 11:25 PM

New Member
*
Junior Member
30 posts

Joined: Feb 2008
Added on July 11, 2009, 11:12 am
What's the maximum loan margin for this package?
*

[/quote]

90 % rclxms.gif
if u are having more than 3 properties, im sure banks will slash ur margin. applied to all banks
if there is a banker cant answer this question, u might as well forget about applying loan with him.

Added on July 11, 2009, 11:29 pm[quote=Homerun,Jul 11 2009, 12:13 PM]helo.. anyone can comment how long will a bank loan lawyer takes to process the documents till completion? is it possible to settle all the stuff in 2months? thanks
*

[/quote]

usually 1 to 3 months but if the banker is aggressive enough, the period of waiting will be shorten.
There is no exact answer for this matter, but if u think u r waiting too long for it...CALL THE BANKER AND PRESSURE HIM.. lol drool.gif

Added on July 11, 2009, 11:29 pm

Added on July 11, 2009, 11:12 am
What's the maximum loan margin for this package?
*

[/quote]

90 % rclxms.gif
if u are having more than 3 properties, im sure banks will slash ur margin. applied to all banks
if there is a banker cant answer this question, u might as well forget about applying loan with him.







This post has been edited by Invinsible-Pp: Jul 11 2009, 11:29 PM
yssee85
post Jul 12 2009, 01:40 AM

Getting Started
**
Junior Member
65 posts

Joined: Jul 2008
From: Kl- ampang & cheras
[quote=Homerun,Jul 12 2009, 12:19 AM]wow, 3-5months? then i will be charged for the interest by the seller la!!!!
*

[/quote]

no la.
you ask when will all progress will be completed rite?
S&P complete, the seller wont charge you already...

i don't understand your question la...

Added on July 12, 2009, 1:44 amif you are refering to loan application,signing loan agreement, issue LI, usually 1 month. the seller will give you 2 week to apply loan, doesn't include loan approve la bro.
=.=

Pressure the banker konon, shakehead.gif shakehead.gif shakehead.gif
don't teach ridiculous thing to people la.
We got many thing to do, not just 1 case, dozen bro!!!
make the banker angry he straight reset case, do slow slow... who suffer?
the loan applicant!
You talk nicer to banker sure they progress faster. Give them candy!!! To be frank, 1 day also can approve la.
My girlfriend approve 30 minute!!!

Added on July 12, 2009, 1:53 am[quote=Invinsible-Pp,Jul 12 2009, 12:25 AM]
Added on July 11, 2009, 11:12 am
What's the maximum loan margin for this package?
*

[/quote]

90 % rclxms.gif
if u are having more than 3 properties, im sure banks will slash ur margin. applied to all banks
if there is a banker cant answer this question, u might as well forget about applying loan with him.

Added on July 11, 2009, 11:29 pm

usually 1 to 3 months but if the banker is aggressive enough, the period of waiting will be shorten.
There is no exact answer for this matter, but if u think u r waiting too long for it...CALL THE BANKER AND PRESSURE HIM.. lol drool.gif

Added on July 11, 2009, 11:29 pm

Added on July 11, 2009, 11:12 am
What's the maximum loan margin for this package?
*

[/quote]

90 % rclxms.gif
if u are having more than 3 properties, im sure banks will slash ur margin. applied to all banks
if there is a banker cant answer this question, u might as well forget about applying loan with him.
*

[/quote]

Some bank 4 properties. doesn't apply to all.

This post has been edited by yssee85: Jul 12 2009, 01:53 AM
Invinsible-Pp
post Jul 13 2009, 12:00 AM

New Member
*
Junior Member
30 posts

Joined: Feb 2008
[Pressure the banker konon, shakehead.gif shakehead.gif shakehead.gif
don't teach ridiculous thing to people la.
We got many thing to do, not just 1 case, dozen bro!!!
make the banker angry he straight reset case, do slow slow... who suffer?
the loan applicant!
You talk nicer to banker sure they progress faster. Give them candy!!! To be frank, 1 day also can approve la.
My girlfriend approve 30 minute!!!


Dozen of cases huh???....if im a customer, i will ask u to stop the application, there is still thousands of banker around.Since u r sooooooo busy, den i refer it to another banker. aint that better for both of us? Now u r the consumer or the banker??...if the banker want sales from u, you must afraid he angry at you??..haha..joke!!

Applicant will not suffer if he found aggressive banker, who are very good in dealing with time but once you got banker that give excuses say they busy for this n that, too many cases to submit or treaten to reset ur case...... ASK THEM SHUT UP ,DEN START LOOKING FOR ANOTHER BANKER!!!!....

NOW who is teaching ridiculous thing???....Bro, be a smart consumer la..but too bad u r a banker biggrin.gif
« Next Oldest · Property Talk · Next Newest »
 

154 Pages « < 24 25 26 27 28 > » Top
Topic ClosedOptions
 

Change to:
| Lo-Fi Version
 0.0276sec    0.62    6 queries    GZIP Disabled
Time is now: 2nd December 2025 - 01:26 PM
All Rights Reserved © 2002- 2025 Vijandren Ramadass (~unite against racism~)
Removal Request
Powered by Invision Power Board © 2025  IPS, Inc.