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ADVISE ON 1ST HOUSE LOAN ?

 
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rionlee9



Joined: 15 Jul 2009
Posts: 1
Location: CHERAS KL

PostPosted: Wed Jul 15, 2009 1:21 pm    Post subject: ADVISE ON 1ST HOUSE LOAN ? Reply with quote

I want to buy my 1st house > condo at pandan perdana.

I need Home Loan advise.

Salary :Around RM3000++

commitment: CAR LOAN :RM578 + PERSONAL LOAN:RM 230 (till AUG 2010)

age: 27 yo now..

If i wan to Loan RM120k, will the bank loan to me?
How much the monthly repayment? and how many years i can loan up to? the longest Razz

Which bank can offer the lowest interest rate loan?
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cmtoh85



Joined: 23 Mar 2009
Posts: 21
Location: Kuala Lumpur

PostPosted: Wed Jul 15, 2009 2:34 pm    Post subject: Reply with quote

Hi,

OCBC currently offer:
Zero cost: 1-5 yrs BLR-1.7%, T/A BLR-2.4%
Non-zero cost: 1-3 yrs BLR-2.0%, T/A BLR-2.3% (LVS financing available)

Loan tenure max up to 40 yrs if you are diploma or degree holder. Otherwise will be 30 yrs.

Monthly installment for 120k loan will be around Rm400+ (40 yrs) or Rm500+ (30yrs).

With your monthly income 3k plus, you are eligible to apply such loan amount.

Please don't hesitate to email or contact me if interested. Thanks.

Regards,
Toh Chin Ming
0169455966
cmtoh85@hotmail.com
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p3nang



Joined: 09 Jul 2009
Posts: 69

PostPosted: Wed Jul 15, 2009 9:14 pm    Post subject: Reply with quote

Hi, i can help you to get a loan with lowest fixed interest rate in the market for 30 years.
It will let enjoy the same low fixed rate even the BLR rised.
Feel free to contact me if interested.
_________________
Free insurance

Feel free to contact me.
cc_wong1987@yahoo.com
017-4387038
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loan wolf



Joined: 01 Jul 2009
Posts: 48

PostPosted: Thu Jul 16, 2009 11:59 am    Post subject: Re: ADVISE ON 1ST HOUSE LOAN ? Reply with quote

rionlee9 wrote:
I want to buy my 1st house > condo at pandan perdana.

1. If i wan to Loan RM120k, will the bank loan to me?
2. How much the monthly repayment?
3. and how many years i can loan up to? the longest Razz
4. Which bank can offer the lowest interest rate loan?


Hi Rion,
Welcome here.

I am quite new and shopping for a home and hunting for loans too. If you dont mind I share some of my learnings on your 4 questions.

1. Yes, the bank will loan you.... at their terms.
They will want to make as much interest and hold you for as long as the term as possible. And you will want the opposite, where possible. In the end, you will meet in the middle.

For the bank to loan, you will first need to find a property unit for sale, to you. You need to prepare forms such as offer letter, EA form, salary slips, copy of IC, etc... find out what the bank require for an application and submit yours. Rolling Eyes

2. The monthly payment is going to be alot.
If you find payments to be little, then kindly inform me.

The exact figure depends on the loan amount by the bank for the package you've been served. So feel free to make duplicates of your application and go shopping for a bank loan.

Feel free to assert your rights to be informed. Ask the bank how they calculate their loan and assuming the rates (BLR) stays the same, then what would the amortisation table look like. Ask or the bank will not hesitate to rip you off. Twisted Evil

3. Longest loan tenure depends on banks and packages. Usually to a maximum of 30 years or 65 years of age, which ever comes first.

There are banks that are willing to loan you for longer period. The idea is how to pay off your loan as soon as possible. For this reason, banks can lock-you-in the loan for 7 years or so. If you finish paying early or sell your property, you will have to pay a penalty, about 3% to 4% of the original loan amount. Basically, the bank wants you to work for them. Laughing

4. The banks that can offer the lowest rates of loan, in general are.... (drum roll)... FAM Bank Idea

FAM Bank is your Father And Mother (FAM) Bank. Laughing

As in question 1, you will need to shop around for banks
Each banks have different loan packages which offers different rates
Each beneficial rates often ties you to something such as penalty, maintenance charges, longer lock-in period, etc.

In general, don't forget to go shopping for a loan at these banks:
.://..bnm.gov.my/files/doc/2008/comp_tables/03_housing.pdf

and keep in mind these banks generally offer the lowest BLR are
= Bank of Tokyo-Mitsubishi UFJ (Malaysia) Berhad Surprised
= J.P. Morgan Chase Bank Berhad Cool
= The Royal Bank of Scotland Berhad Wink
According to Bankinginfo.com.my
.://..bankinginfo.com.my/04_help_and_advice/0401_useful_tools/comparative_tables/pop_up/base_lending_rates.php

I hope you will return to share what you learnt with me/us. Happy shopping! Smile
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bkfeng



Joined: 21 Jun 2009
Posts: 48

PostPosted: Thu Jul 16, 2009 1:44 pm    Post subject: Re: ADVISE ON 1ST HOUSE LOAN ? Reply with quote

rionlee9 wrote:
I want to buy my 1st house > condo at pandan perdana.

I need Home Loan advise.

Salary :Around RM3000++

commitment: CAR LOAN :RM578 + PERSONAL LOAN:RM 230 (till AUG 2010)

age: 27 yo now..

If i wan to Loan RM120k, will the bank loan to me?
How much the monthly repayment? and how many years i can loan up to? the longest Razz

Which bank can offer the lowest interest rate loan?


Hi rionlee, the monthly repayment if u take a 30 years loan will be around RM550+, should be no problem to apply for Smile
What i might recommend is that why not apply from a few banks and just get the best offer. I can help you to do this for free Very Happy , staying around cheras area as well.
_________________
Mortgage broker for various banks, contact me for the best rates available =)
Bu - 017-6952891
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sannyzone



Joined: 24 Sep 2008
Posts: 61
Location: PJ

PostPosted: Thu Jul 16, 2009 3:40 pm    Post subject: home loan Reply with quote

Hi

Of corse you are eligible to get loan ler, as long you have prompt payment in your credit.. passing rate is high.

You should upgrade a bit your property to RM150k-RM180K Smile

Would like to share with you some best rates offer by foreign and local banks. And guide you all the process. Email me sanny_03@hotmail.com

I am dealing various foreign and local banks.

May hear from you soon

Good Luck

Thanks
Regards
Sanny Sin
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