of course it is possible, but you have to make sure that the money from the refinancing comes in time to pay for the new house, or else you might be charged interest, or worse, you might lose your down payment.

is your salary enough to cover repayments? any other car/property loans at the moment?

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Added on August 13, 2008, 5:04 pmhow much money do you need & how many % of the market value you want to refinance?

This post has been edited by johnsonm: Aug 13 2008, 05:04 PM

rough estimation, 300k loan, to pay off over 30 years, at blr - 2%, repayment should be around rm1600 or so.

from your 3k income, 1/3 can be used to pay off loans, meaning you have 1k to pay off loans. 700 goes to your car. no way you can get a loan unless you have a co-borrower, or some other source of income. also, if possible, consider using the money from the refinancing to settle your car loan. some banks might give you a loan with that pre-condition.

and banks usually give up to 90% loan based on their valuation of the property.

your repayment cannot exceed rm300. i really dont know what kind of loan you can get, but i am thinking around rm50k?