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100% loan for first-time house buyer?

 
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ClarenceBak



Joined: 06 Nov 2010
Posts: 15
Location: Cheras

PostPosted: Sun Dec 05, 2010 4:23 pm    Post subject: 100% loan for first-time house buyer? Reply with quote

Greetings

Pertaining the latest introduced scheme where first-time house buyers with monthly household income of less than RM3,000 are able to obtain a 100% loan on houses lower than 220k. Can anyone please define 'household income'? Is it an individual income or income combined with family members (bachelor) or wife (married) ?

Thank you.
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jcvstlys



Joined: 18 Mar 2008
Posts: 25

PostPosted: Sun Mar 20, 2011 2:39 am    Post subject: Reply with quote

This is based on individual income
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erekit



Joined: 23 Oct 2010
Posts: 29

PostPosted: Fri Apr 01, 2011 10:08 am    Post subject: Reply with quote

For this 100% loan, buyer needs pay the 10% upon signing SPA, bank will refund back this 10% at last disbursements

unless buyer managed to ge vendor agreement to pay the 10% later after got the 10% from bank, else buyer still need prepare 10% and also money for SPA

this is info from CIMB, other banks practice iam not sure but shall be same as guidelines from CAGAMAS
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mateo503



Joined: 01 Dec 2010
Posts: 23

PostPosted: Sat Apr 02, 2011 5:04 pm    Post subject: Reply with quote

According to wiki.. If you are applying (non-married) it means your approximate yearly income. If married add your spouses income to that total (if getting a card for spouse as well that is)
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