Let see here..

my steady income is around 4.5K/ month, can fork out up to 20k for downpayment. My age is around 24...

Should be able to get a 300k loan for a house ?

A simple answer would be great... Thank you

If a downpayment of 30 k needed. no trouble forking out to that amount... my only concern is whether can get the loan or not..

hi, my lock-in due on this upcoming Oct 24, when should i start to approach bank for refinancing?  thks~

same here lor...only the reason is different.

after more than 2 weeks waiting, application have been rejected both by Alliance & HSBC due to the location of the property - Ukay Perdana Ampang... sigh...

Another one with SCB is still pending - long queue wohh....sigh again....

So, I'm still looking for other provider..anyone interested in doing this, please PM me so that I could provide you with the required details.

Those mortgage brokers that have helped me so far with the application, thank you so much for your assistance.
Monica

r u talking abt refinancing or wat, well, there is no return for this refinancing plan, the guaranteed return is for FD not this property refinancing plan, so u wanna to refinance ur housing loan, sir?? due to  BLR for 5 yrs ago r 6.25%. so definitely u can save rm358 while  current BLR is 5.55%- 1.8%  there will be more explaination on it if i could make an appointment with u...wat do u think, mr gunners

And if u oso want to talking abt the FD plan as well, the return is definitely guaranteed, and our bank Hong Leong is going to close it end of this month, betta hurry up

this is the FD plan,

This is a NEW STRUCTURED FIXED DEPOSIT ACCOUNT

We offer First Year interest rate at 12%

Overall calculated interest rate is 6.5%

Additional 5.5% interest on accumulated Cash Payment
*normal bank FD is just 2.5%

One time payment or Six times payment
(then you can enjoy interest and benefit up to 35 year)

For customer who deposit RM4000 and above, we'll free TRAVEL PACKAGE to you
(To SHANGHAI/BEIJING/GUILIN) (5 Day 4 Night)

Advance payment is extra payment that u going to pay for next month's instalment but not principal amount.

Prepayment is extra payment that u pay for the principal, after that the outstanding will be just calculated for interest rate.
For example, if u made RM5000 extra, loan amount is RM100000, the outstading become RM95000 x 3.75% x 30/365 for your next month interest charged.
If u wish to pay for prepayment, next month u still need to pay instalment. However, if u not making any payment, bank will take your prepayment to pay the instalment. Hence , there is not default.

Term loan is normal conventional loan that previously our parent pay for. "Term" means every month pay for a fixed amount. If u wish to pay extra, u need to give notice to the bank. If u not giving any notice, all the payment is considered as advance payment.

Flexi loan is innovative loan that firstly created by Citibank on 2004 brought from the concept of their USA market and following by StandardChart named Mortgage One. The feature of loan is allowed u to pay prepayment any amount, any time, without giving notice & no charged for that. Additional features like the interest calculated on daily rests, and also giving u flexibility on withdrawing prepayment with cheque book or ATM card.

Nowadays all banks have copied this concept and offer similar type of flexi loan to their customer. The difference is very minimal.

Hence, you are recommend to apply flexi loan to save more money. The saving is just exactly as your friend giving you the example.
Outside market got private company offer the consultancy about this concept to educate people to save more money. But if u get a loan from a good experienced banker, he/she will help you for free.

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Added on February 14, 2010, 3:45 am

I totally agree with you that interest rate is the key. If i apply housing loan, the most important thing i compare with must be the interest rate. I will not pay for higher interest because of the banker very charming or he/she frequently visit my house to discuss about loan.

I also will compare loan's feature that got monetary value, like absorb legal fee, lock in period, late charges, special term & condition that regards charges. If everything the same, i will consider for the bank's " after-sale value".

I know that signing for loan is not just one moment, but is a 30years matter. During this 30years, i may need some after-sale services.

From signing to loan drawdown is already one thing, some bankers will neglect to follow up for loan drawdown causing u to pay penalty for late drawdown to vendor or developer. Only that moment u found out u paying more penalty than the interest u save.

Every month i got to go to the bank to pay instalment, so that i will chose a nearer bank to help me save the travelling cost or parking fee.

For employee, we got our EPF that allow to pay for housing loan. Hence, i will judge with my eyes that whether the bank got front liner that help me on this matter. Besides, postal may delay or missing. I may need to request for statement to check for my outstanding. If the bank's e-banking system allow me to check at home is much better.

I also came across one case that a customer who heavily travelling to oversea. Once during his outstation, we found out that his saving account that not sufficient to pay for the instalment,but his current account is sufficient. We are unable to reach him for making request to deduct from his CA, but the letter offer do stated that we are allow to do so. So we temporarily deduct from his CA to avoid his late charged. After 2months he come back, we inform him about this. He told me that he is so forgetful that forget to pay the instalment but our bank got this priority on customer. In fact we can earn his late charged but we dont, we want to earn customer satisfaction.

Another senario is about MRTA. One customer who got a 20years loan but he settle it by 5th year. His MRTA cover for 20years. During the settlement we help him to issue letter to insurance company to claim back the refund. When he got his refund cheque, he come to our bank said thanks. He said previously his loan refinance from "M"bank to our bank, at "M"bank he got brought MRTA, but after he refinance then "M"banker ask him to claim refund himself but he even dont know which insurance company and what is the procedure. Hence, he let his 30years MRTA premium forfeited. He said he making a right choice to refinance to our bank and will introduce his friend apply loan with us as well.

As conclusion, I know that i am working in serving line but not pasar hawker that throwing discount or " touch and go". I feel satisfied that i can fulfilled the customer's dream house by offering them housing loan. Everytime during Chinese New Year i got received a lot of greeting cards from my customer then i know how many customers satisfy my service for them. That is what called work satisfation.

If my monthly loan repayment is about 1.7k, my salary 4k, then at end of each month i need to put all my 4k in the homeloan acc to save interest? If my expenditure is 2k (car loan, phone bills, fuel, food, etc), then if take the 2k the following day will it save interest? Or better redraw the 2k in stages based on priority? I'm using mbb homeloan, blr -2.2.

Which bank offer this kind of loan , is it a flexi loan ? it will be better for me to do that so that all salary into that account and it will help me to save interest if i did't withdrawn all my salary each month

does it mean that it works something like this:

say on the 30th, i put in my salary of 4k. if i take a loan of 200k, thus the interest for the next month would be calculated based on 196k?

i dont really understand how it works, the part where the longer the money stays in the account, the better it is.

also, stan chart is offering me zero entry cost but due to the location of the bank and interbank transfer costs, i'm not so keen on stan chart. how much would this ZEC come to (my property is 299k)?

are there any other banks offering ZEC?

BLR-2.1% is already pretty good at this time. Be sure to read the terms properly. Suggest you take it if you already have started the application process.

Hello yott-chan, i've pm-ed you. Do check your inbox.

guys,thinking to tie down $350 loan to SCB
but in a predicament betwen klibor & std term loan
apparently KLIBOR rates decrease more than BLR during the economic slowdown.
wondering how klibor reacts when BLR inevitably goes up soon

guys,
i got an offer from public bank for -2.4 for my first house (500k).
now planning to buy a second house.

Price ard RM170k. second hand.

which bank would u guys recommend? or i should refer back to public bank?

btw, i was told that the inst cannot exceed certain % of my income. Anyone got any idea how much of the salary?

5yrs lock down period.
must buy MRTA fire insurance
can reduce principal with advance pymt with one month notice in advance to the counter.
legal fee not incl.
tink tat's all i guess. cos it's my first time so dun really know wat should i look into it.

Dear Banker, Mortgage, Properties adviser,

Would like to consult with you.
BLR -2.++ package usually for loan amount tht more than 500k?

I went to a new development (condo) yesterday.
The sales assistance told me tht for condo then least than (or around) 250k, the "-" BLR rate only can remain at 1.8/1.9 (1.9 is the best tht they can do)

and we (buyer) are not advise to get the loan from outsite
(wht is this... :S, the guy want to earn the $ with cheap package it's?)

I also tought the same way, but thats not happening....

i tried affinbank, 270k..
i tried HSBC damansara - 280k..
i tried AIA - 280k..
i tried a morgage broker here - 230k....

so 90% loan from this would be not affortable for me to pay the dp...

14 days later and your LO is not valid anymore- can extend la

Safer??? In what way?