Hi, i am checking if am still eligible for housing loan? i am looking to buy an apartment with the purpose to rent out currently.
Gross salary as around rm2000 and the only commitment i have is personal loan rm350 a month. No CC outstanding, no car loan whatsoever. But i have and i still owe OD about rm130K. Is OD consider a monthly commitment when they check my application? I am planing to take aparment loan about 120K, 30yr tenure. paying 600-700 amonth. are there any chance they approve my loan?
Thanks

EngTat

This post has been edited by Eng_Tat: Feb 18 2009, 02:50 PM

U have an OD of 130k? How to answer u if no details on drawdown lah? How many % of the line have u utilized? By the way - Hard to find a person with 2K with no assets (as u have no housing loans) can qualify for a clean ODin d fist place? Care to elaborate pls?

OD is not a monthly commitment if u have not drawdown on it. If there's utilization - then yes, bank's will treat as a monthly obligation.

Hi Phoeni, Yes i have an OD of 130K (Limit 160K) my house is used as collateral for OD with the bank. This house was previously paid before converted into OD 2yrs ago.