BLR-2.40%

(Until 31st January 2012)

For loan amount RM200,000 & above.

Terms and conditions apply.

For more home loan information, please contact us now !

Residential Home Loan Package

For Loan amount above RM200,000:

Up To BLR – 2.40% whole tenure

(Until 31st January 2012)

Subject to Terms and Conditions apply.

For more home loan information, please contact us now.

Up To BLR – 2.20% whole tenure

(Until 31st January 2012)

Hurry! Contact us now!

Terms and conditions apply!

MY FIRST HOME SCHEME 2012

 

CAGAMAS SRP BHD	Joint Venture between Ministry of Finance/Government of Malaysia and the Cagamas Group
GUARANTEE COVER	Cagamas SRP Bhd will only guarantee 10% on a “first loss” basis
LOAN(LTV)/FINANCING AMOUNT	*Upon qualification of the scheme, Banks will provide 100% (of SPA/OMV whichever is lower) financing to purchase the property.*As per existing banks’ policies, participating banks can still finance an additional 5% for Insurance/MRTT, Legal and Valuation Fees, but this will not be covered by Cagamas SRP Bhd and Subject To Bank’s Discretions.
PROPERTY TYPE	*Completed Residential Properties*Under Construction residential properties. For property under construction, the Guarantee Protection/Cover will only commence upon full disbursement/Property fully completed. As such only empanelled EF project will be considered under this scheme. Any exception will be considered on a case to case basis.
PURPOSE OF LOAN/FINANCING	*To finance purchase of a house.*Not applicable for refinancing.
LOAN/FINANCING FACILITY/PRODUCT	Subject to bank’s package.
LOAN/FINANCING TENURE	Max 30 years, subject to not  exceeding borrower’s age of 65 (based on younger borrower’s age, for joint application) at loan maturity-(Subject To Bank’s Discretions).
LTV/FINANCING AMOUNT	LTV/Financing amount should not be more than 100% of SPA/OMV whichever is lower.
INTEREST RATES	Subjected to bank’s package.
BORROWER /CUSTOMER	*Malaysian Citizenship only.*Young Adults not exceeding 35 years of age.*First Time Homebuyers only (defined through CCRIS checks) and declaration in Application form and letter of offer.Joint Borrowers/Customers, if any, must be related as immediate family members ( Spouse, children and sibling)
EMPLOYMENT	*Confirmed employee with minimum 6 months employment with same employer.*Not for self employed and goverment staff.
INCOME /LIQUIDITY RESERVE	*Max salary of up to RM3,000 per month per individual borrower/customer*Joint application with combined gross income of up to RM 6,000 with single borrower’s gross income not exceeding RM3,000/month( Bonus to be excluded from calculations. Treament of commission as per participating bank’s existing policies)
DOCUMENT REQUIRED	1. NRIC copy2. Property Booking Receipt3. Vendor Sales and Purchase Agreement / Title copy / New Sales and Purchase Agreement4. Latest 3 months pay slips5. Latest 3 months personal bank statement  (To show salary credited as per pay slip)6. Employment Letter ( on letter head or bearing company chop) confirming job title and income details. 7. Latest From B/BE with payment receipt acknowledgement 8. Latest KWSP statement/Latest EA form 9. Deposit Statement e.g. Fixed Deposit, ASB or Bonds . *Borrower/Customer must show saving habit with average balance equivalent to 3 times instalments in the past 3 months. Example, instalment of RM1000 per month, average saving balance is RM3000 in the past 3 months.
CREDIT CRITERIA	*No adverse credit checking  *All other underwriting standards as per participating Bank’s policies.
PROPERTY TYPE	*Residential Properties only ( Landed and non Landed)*OMV/SPA ( whichever is lower) to be from RM100,000 to RM400,000 *Minimum 60 years to expiry leasehold period. Any exception will require prior approval of Cagamas SRP Bhd before consideration. *Location across all Malaysia*Copy of Master /Individual title is compulsory. *Compliance with relevant regulations under the Malaysian Laws.
OWNER OCCUPANCY	*At least one of the income-generating borrower/Customer, in case of joint borrower/customer, must physically live in the property and use the property as his/her first and primary residence; and*The income of the occupying borrower/customer who must be immediate family member of the joint borrowers/customers, must not be less than the sum of monthly asset instalment payment and his/her other monthly debt or financing obligations.

 

Please contact us  now for 100% housing loan financing!

* Note: The above criteria and information are for illustration only. We(www.malaysiahousingloan.net) will not be liable for any losses or damages cause by it. The final approval still subject to bank’s decision and terms and conditions apply. While every care has been taken in compiling and preparing the contents herein, neither the www.malaysiahousingloan.net & nor its consultant(s) guarantees the accuracy, completeness and/or applicability of the information provided nor is the information meant to be final and binding.  These terms and conditions may be revised without notice from time to time.

Hi everyone,

Under Budget 2011 our government announced many initiatives to help house ownership. These included allocation of RM568 million to build 300 units under the Urban Housing Assistance Scheme and 79,000 units under the People’s Housing Programme.

On top of that, an additional allocation of RM50 million has been set aside especially to help house ownership among estate employees under the low cost housing scheme.

After long a wait and received many emails pertaining to this subject, I am happy to announce “My First Home Scheme” was launched by our respectful Prime Minister, Datuk Seri Najib Tun Razak today.

The purpose of this programme launched was to ease the burden of our younger generation who are facing in increased of cost of living and increased in property price. Government understand and hoping with this programme our younger generation are able to own a house.

We should be thankful to government, mortgage companies, Cagamas Berhad and financial institution for giving full support in this special programme for “Rakyat”.

The brief criteria for this programme will be as follow:

1. Household income not more than RM3,000.
2. House purchase price from RM100,000 to RM220,000.
3. Maximum repayment period at 30 years tenure.
4. First time house buyer.

Under this 100% housing loan financing, Government via Cagamas Berhad will guarantee the 10% house deposit.

Government had appointed following financial institution to collaborate with the programme. Banks that involving in “ My First Home Programme” are as follow :

1. Affin Bank Bhd
2. Affin Islamic Bank Bhd
3. Alliance Bank Malaysia Bhd
4. Alliance Islamic Bank Malaysia Bhd
5. AmBank Bhd
6. AmIslamic Bank Bhd
7. Bank Islam Malaysia Bhd
8. Bank Muamalat Malaysia Bhd
9. CIMB Bank Bhd
10. CIMB Islamic Bank Bhd
11. EON Bank Bhd
12. EONCAP Islamic Bank Bhd
13. Hong Leong Bank Bhd
14. Hong Leong Islamic Bank Bhd.
15. Maybank Bhd
16. Maybank Islamic Bank Bhd
17. OCBC Bank Malaysia Bhd
18. OCBC Al Amin Bhd
19. Public Bank Bhd
20. Public Islamic Bank Bhd
21. RHB Bank Bhd
22. RHB Islamic Bank Bhd
23. United Overseas Bank Malaysia Bhd
24. Standard Chartered Bank Malaysia Bhd
25. Standard Chartered Saadiq Bhd
26. Cagamas Bhd.

Hopefully, this scheme will help many people out there to own a house.

Stay tune for next article on housing loan financing under 100% loan financing.

AIA Home Loan

Congratulations! You have already proven that you have what it takes to succeed in life. With hard work and sheer dedication, you now have the resources to buy a property and build your very own home. At AIA, we recognize your efforts and offer the chance to secure your property to our low, long-term fixed rate home loan. Help make your future financial commitments safer and secure by signing up for our BLR-free loan.

AIA Fixed Rate Home Loan offers:

Home Purchase

Refinancing or switching of home loan from other financial institutions to AIA.

Interest Rate

AIA HOME LOAN – THE LOWEST LONG TERM FIXED RATE IN MALAYSIA

4.85%
p.a. fixed with Non Zero Moving Cost up to 30 years

5.25%
p.a. fixed with Zero Moving Cost (Free
valuation, legal fees, stamp duty on loan)

This is strictly for a limited time period only so get in your applications asap. The
packages are applicable for both purchase of properties and refinancing of existing loans

The benefits you’ll enjoy with AIA HOME LOAN:

• Peace of mind – with fixed instalments for the life of loan despite rising BLR and inflation
• Smart financial planning – fixed your financial cost for your biggest liability…
• Lock In At Low historic rate – of 4.85%p.a. which is the lowest avg lending rate for past 30 yrs*
• Enjoy Real capital gains – as your property appreciates while interest cost remains fixed.

Benefits
Guaranteed fixed interest rate for the entire loan period or up to 30 years. Absolutely no fluctuations in interest rate. The one opportunity to lock in at these fantastic low fixed rates for up to 30 years.

Assured financial planning and peace of mind. Fixed monthly repayment helps to plan and chart a clearer financial planning for the family as housing loan instalment is one of the highest loan commitments in the family.
$ Daily Interest – Loan calculation based on daily interest.

Definition of zero moving costs – Zero moving cost are fees that will be borne by AIA which includes only valuation fees, professional legal fees, stamp duty, discharge and disbursements (such as registration fees, land office and bankruptcy searches.) Other fees such as administration charges by developers etc are excluded.

Apply Now To Secure You Fixed Rate

Hi everyone,

Happy new year to all!

 Last few days, we received many emails and calls regarding 100% loan.

 We called some of the government bodies or department and unfortunately, this issue still remain in the dark.

We hope everyone understand our position for not able to give any advices or comments on this issue.

But, we promise to keep you all in the loop for any new updates.

 Thank you.

Auction can simply be described as the sale of a property to the highest bidder. They are conducted to enable banks or other financial institutions to recover the loan granted to borrowers who have defaulted under the terms of repayment by selling off the properties that have been charged or assigned to them as security for the loan. Auctions may be conducted by the banks’ themselves at the auctioneer’s office or by the courts and land offices.

Auction sales are commonly perceived as opportunities to acquire properties at a bargain or under market value. Since banks are not in the real estate business, they will not want to hold the property for long and are willing to dispose of it as long as they can get their money back as quickly as possible. That is why you can find good deals in auctions sales.

Auction properties are sold on an “as is, where is” basis. Also known as “in its present condition”, auction properties are sold without any warranties as to the condition of the property nor the suitability of the property for a particular use. As such, it is important to examine and inspect the property before the bid.

We do acknowledge that auction properties sometimes can be very cheap and we are tempted to buy it. So, the question, Should we buy auction properties?

Sometimes, I received email from my viewer saying they are interested of buying an auction property. This is their first house and since the property price is cheap, so why not?

From my years of experience in doing loan, my advice will be unless you are an experience investor or you have knowledge in property and mortgage loan line or you are able to fully settle the house in cash in the event the late penalty kicks in, then you shall proceed with the purchase.

I have many stories and experiences in seeing some of the clients crying or in a deep trouble when they purchased the auction properties. So, many issues can be arise along the process of disbursement.

Unless, you did some checking on the property, the property title and developer as well. In the same time, you should also ask some legal advice from your lawyer, they know better than us.

I would like to share some of the step by step process of buying an auction property. However, this is only some brief steps.

Win your bid in cheap price with following tips:-

Step 1: Check the Property
• To conduct on-site inspection
• To check on encumbrances
• To check on the outstanding maintenance charges / rates / taxes / utilities charges and vacant possession
• To consult a valuer to get indication of the property price and compare with the reserve price

Step 2: Prepare Yourself for the Auction
• Organize your finance (include preparing document needed for loan application)
• Set on the maximum price that you are willing to bid
• Bring extra money with you during auction

Step 3: Familiar on the Auction Procedures
• Think twice and get used to auction first before put up your hand for an auction
• Talk to agents, talk to friends, talk to lawyers, talk to valuers

Step 4: Bidding Process and Procedures
• Register with the agent for Proclamation of Sale and Condition of Sale.
• Confirm with the agent that the property still under available for auction
• Be aware the property may withdraw last minute
• Register your name and prepare 10% or 5% bank draft on the reserve price

Step 5: Start Biding (The games is on)
• Be there 30 minutes earlier to get yourself ready for the battle
• Don’t influence by others people
• Be focus and be clear with your objective
• Be clear on your objective to win property that you are target for
• Be clear on your bottom line
• Listen carefully on the terms and conditions (as they might change it)
Start biding only when the property you target is on auctions. Be firm with your bottom line. Stop when the price is over the bottom line that you set earlier. Remember there are plenty of auctions or opportunities out there.

Step 6: Win or Lose the Bid

Congratulation, if you win the bid:
• You are required to sign the Memorandum at the bottom of the Proclamation of sale (or the Sales of Contract)
• Pay the balance of the 10 % or 5% if the price is higher than the reserve price

Don’t be upset, if you lose the bid:
• The streets are full of them and there are plenty of opportunities or auctions out there
• Don’t forget to claim back the 10% or 5% deposit that you have submitted

For more home loan information, please feel free to contact us

 

Hi Everyone,

We are receiving tremendous request to explain in details for the new ruling  “3^rd House Financing Facility With Maximum Loan to Value 70%”  .We would like to clear the air with the chaos in the housing loan sector. Here, we provide simple example for this new ruling.

These simple conditions apply:

1)     Banks will refer to CCRIS report.

What is CCRIS?

CCRIS is a Bank Negara Malaysia (BNM) sponsored system that supports the functions of the Credit Bureau (CB)

 

What is CREDIT BUREAU (CB)?

Credit Bureau is a unit established by BNM to collect credit information on borrowers from financial institutions and supplies the information back to financial institutions.

The Credit Bureau does not collect any information on deposits or the investment portfolio of any individual or corporation.

2)     Bank will only refer to existing home loan or payslip (for government staff). Bank will not base on Sales and Purchase agreement or ownership of the property.

Example 1 :

Mr A has 3 existing home loan with few banks.

Ms B has only 1 existing home loan with bank.

Now, Mr A would like to purchase a new house with Ms B. Sales and Purchase agreement under Mr. A and Ms B.

Scenario 1:

With an assumption, the new home loan under Mr. A name. The home loan entitlement will be up to margin 70% only. Because, this is Mr A’s 4^th home loan.

Scenario 2:

With an assumption, new home loan under Ms B name only. The home loan entitlement will be up to margin 90%. Because, this is Ms B’s 2^nd home loan.

Scenario 3 :

With an assumption, new home loan under Mr A and Ms B name. The home loan entitlement will be up to margin 70%. Because, this is Mr A’s 4^th home loan.

Example 2:

Mr A has 2 existing home loans with bank. Recently, he sold one of the houses, Sales and Purchase agreement signed. CCRIS still appear this home loan.

Today, Mr A purchased a new house.

If he applied a home loan for the new house, what is the entitlement?

Answer: Up to 70%.  Because, it is consider 3^rd home loan. His existing home loan still appears in CCRIS report.

If the home loan no longer appears in CCRIS, then his entitlement for home loan will be 90%.

Example 3:

Mr. A don’t have any property under his name. Basically, he didn’t own any house. But, he has 2 home loans co-joining with his sister and brother. He joined as a co-borrower because both of his brother and sister do not have sufficient income at that moment.

Now, he interested to purchase first house under his name and apply a home loan. What is his entitlement?

Answer :  Up to 70%. Since, the new home loan will be 3^rd home loan.

Example 4:

Mr A has 10 houses around Malaysia. All houses are fully paid or buying with cash. Now, he is purchasing a new house and would like to apply for a home loan. What is his entitlement?

Answer: Up to 90%.

*Checked with Ms Norhana from Bank Negara Malaysia ( 1-300-88-5465 )

For more home loan information, please free to contact us

Thank you.

Hi everyone, the most nerve breaking news for property financing in 2010 had been announced. Bank Negara quote “ with immediate effect the implementation of a maximum loan-to-value (LTV) ratio of 70%, which will be applicable to the third house financing facility taken out by a borrower.”

Nevertheless, these rumours had been spreading in the market for a while. But, we were still in shock with this news. We believe, this decision will affect so many parties. The most obvious one will be property market players such as developer, property agents and banking industry as well.

Previously, developer had been offer attractive rebate and discount up to 10% to attract more buyers to own a house. With zero down payment and loan up to 90%, many buyers own a house without paying a single cent. But, now the table has turned. Are developers able to offer 30% rebates for a house to attract these “3^rd house buyer”? This will take a lot of courage to anticipate it.

We do understand Bank Negara is trying to cool down the property market in Malaysia. But, I can’t help feeling sad over this decision. It shaded my dream to own a dream homes. Or in another way to see it, it will take longer time to own one. I will definitely mourning for this decision for a well.

I’m glad this decision not affecting first and second house buyer. Individual that fall under this category will still able to apply loan up to 90%.  Congratulation to you guys!

However, this news comes by surprise and we yet to receive any black and white from the banks. We understand, you have so many dilemmas and questions to ask regarding this issue. But, please be patient with us.

We promise to update you the recent news once we received it.

For more details on the new ruling, please refer to Bank Negara Article “Measures in Promoting a Stable and Sustainable Property Market and Sound Financial and Debt Management of Households” dated 3^rd November 2010.

Feel free to leave a comment about this new ruling by Bank Negara, I would like to hear from my viewers.

Take care.