Need Your First Home Loan?
Buying your first home is exciting and a little scary at the same time. Not only are you faced with the challenge of finding the right property to become your first home, but you also need to know you’re getting the right first home loan.
How Much Can I Borrow?
Before you go hunting for your new home, you should have a clear idea of exactly how much the banks will allow you to borrow. Once you understand how much borrowing power you have, learn how much the repayments will be and work out if this amount is affordable for your income level.
Knowing your borrowing capacity and your repayments ahead of time means you won’t be tempted to overspend or go hunting for houses that are outside your budget. Contact, our home loan consultant they may be able to help you achieve your goals.
Which First Home Loan is Best?
The Malaysia mortgage market can be a confusing maze of options, home loan interest rates and bank jargon that can be difficult for a first home buyer to navigate successfully, but you don’t have to get through it on your own.
When it comes to finding the ‘best’ first mortgage for you, it’s important to remember that no two people have identical financial situations. Nobody else but you has your income, your expenses or your goals. This means that aiming at a mortgage that worked really well for a friend or family member of yours may be a terrible option for your own first home loan.
Always keep in mind that you should aim at finding a mortgage package that works best for your unique personal situation.
Do I Need a Deposit to Buy My First Home?
Most Malaysia banks have scaled back the availability of no deposit home loans and 100% home loans. The current maximum financing is 90% + 5% MRTA (optional).
The best way to check if you’re able to begin searching for your first home is to contact a professional mortgage consultant. You’ll be helped to understand your full borrowing capacity, you’ll know how much your repayments will be and, best of all, a mortgage consultant will make sure you’re applying for the best possible first home loan to suit your needs and your goals.
i want to know my eligibility for housing loan.
my gross salary 2300 n my husband is 3250. how much will be my eligibility? i’m interested with the house which price is 350,000. am i eligible?and how much i need to spend monthly?
Dear Fadzlin,
Thank you for visiting our website.
I already PM your questions.Please check you email ya!
I wish to know my eligibility for housing loan.
Combined gross salary of me and my bf is RM6600, 2 car installments total RM2800, may I know what else are consider under our commitment? And if we wish to take a house loan about RM350k, are we eligible?
Thank you for visiting our website.
I already PM your questions.Please check you email ya!
Hi, I’m looking to buy a completed property as my 1st home. My monthly basic salary is RM3800 but I’m receiving an average of RM2500 of allowances consistently for the past 12 months. But due to my company’s policy the allowances I’m receiving is not reflected in my payslip but it is reflected in my bank account statement. I do not have any other outstanding loans. May I know how much am I elegible to borrow? Thanks
Dear YangJie,
Thank you for visiting our website.
I already PM your questions.Please check you email ya!
Hi,
i have a few question :
1) i’m a first time home buyer and i’m interested to buy a house costing at RM360,000. am i eligible to get a 95% housing loan? and how much would be my monthly installment? my salary is around RM3,200.
2) is it a bad move to apply for personal loan to pay for 10% downpayment of the house?
3) is it possible for my fiancee and i to apply for joint housing loan? is there such a thing?
hope you can help!
Thanks.
best regards,
fara
Dear Fara,
Thank you for visiting our website.
I already PM your questions.Please check you email ya!
Hi,
I’m going to purchase my 1st home soon.
May i know currently which bank offers the best home loan package.
Thanks
Sarah
Dear Sarah, Thank you for visiting our website. I already PM your questions.Please check you email ya!
I and my boyfriend would plan to buy a property soon , our combine monthly income about 4200.
We have just bought a car , every month installment about MYR590 for 8 year , the car loan is under my bf name .
Could you please advise what is the eligible loan that i can get ?If for 280k house possible ?
Dear Ginny, Thank you for visiting our housing loan website. I already PM your questions. Please check your email ya!
Thank you.
hello,
im going to buy my first house. All the of the banks only give 90% loan of the house price. So the 10% will have to come from myself. The problem is how im going to cover for the 10%? because my savings is not sufficient enough to pay for the 10% downpayment. Is there any other alternative or any other banks that can give full loan??
Dear Fernandez, Thank you for visiting our website. I already PM your questions.Please check you email ya!
Hi, i plan to buy a house and my salary is RM2400.I do not have any other outstanding loans. May I know how much am I eligible to borrow? Thanks
Dear yen, Thank you for visiting our website. I already PM your questions.Please check you email ya!
Hello
I plan to buy a house (first house) with a range of RM350,000 to RM450,000. My monthly salary is RM6200. My only financing is my car RM600 a month and its in the 5th year other than my credit card.
1. How much do i have to spend monthly?
2. Can you advice me which bank offers the best package?
3. May i know the maximum amount of house loan and house value that i can make with my current salary?
Really appreciate your help and advice. Thank you.
Dear Eijah, Thank you for visiting our website. I already PM your questions.Please check you email ya!
i want to know my eligibility for housing loan.
my gross salary 9.5k. how much will be my eligibility? i’m interested with the house which price is 290,000. am i eligible?and how much i need to spend monthly?
Hi shahril,thank you for your comment. I already PM to your email.
Hi there. I’m having a net 3000 salary. Basic is 3200 with allowance 150. I wish to know am I illegible for a house loan. This is my first home. Car loan is going to complete in 2 months. I have PTPTN loan which I’m still paying. Hope you can provide some advice.
Thanks for your question.
Usually, we’d recommend continuing this conversation through the phone as we can understand your situation more and have the correct figures for the calculation.
But, to give you a quick answer.
This is how we calculate your loan eligibility.
The ideal debt service ratio (DSR) will be 65% for your income.
So, if your net income RM3000.
All your new and existing commitments should be in the range of RM3000 x 65% = RM1950.
Since we don’t have your car loan and PTPTN installment, let make some assumptions, and you can do your calculation later.
We assume the existing commitment as follows.
Car Loan installment: RM500
PTPTN Loan: RM150
The total existing commitment is RM650
Therefore, your new commitment ( which is the new home loan you’re going to take), the installment should be RM1950 – RM650 = RM1300.
For this next step, you can use any online home loan calculator.
Key in the home loan interest rate, tenure, and the installment amount. Some online calculators will allow for backward calculation of the eligible Loan Amount.
If not, you can key in the interest rate, tenure, and loan amount, until you get the RM1300 installment. From there, you’ll know your loan entitlement.
Interest rate = 3.30%
Tenure = 30 years
Instalment = RM1227
Loan Amount = RM280,000
In this case, your loan eligibility is RM280,000.
To calculate your Purchase Price, you can use this formula to work backward.
The maximum bank margin is 90%.
Let assume, RM280,000 is 90% loan margin.
Using this formula, you can calculate the Purchase Price.
Purchase Price = Loan Amount / 90%
RM280,000 / 90% = RM311,111.11, Purchase Price
Therefore, you should target Property in the range of RM300,000 -RM310,000.
Conclusion:
1. Based on the above calculation, you should be eyeing Property in the range of RM300k-310k. Anything above this increase the chances of getting a 90% loan margin.
2. Your loan entitlement is around RM280,000.
3. We would suggest you purchase a house or apply for a home loan after fully settling your car loan. This way, you can get a higher loan entitlement.
We hope this calculation can help you with buying a new house.
If you are looking forward to having a more accurate calculation for the loan eligibility, please call us at 012-6946746 and talk to our consultant Mr. David. He will help you out.
Before you go, take this opportunity to read this related article to the first-time house buyer.
Exemption For Stamp Duty 2019-2020
https://malaysiahousingloan.com/exemption-for-stamp-duty/
Thanks.
#malaysiahousingloan
Melissa Lee
Online Mortgage Consultant
Call or Whatsapp Us: 012-6946746 (talk to Mr. David)
hi.. i’m planning to buy my 1st home..
with monthly salary or 2.5k may i know the best home loan package? i dont have other commitment except my car loan (600).. im looking for 350k loan..is it possible?
Hi nofa,thank you for your comment. I already PM to your email.
Hi..
Just want to know how much should my salary be to buy a property for RM140k.
Its my parents house which i plan to buy it from them.
No idea on the process, req and procedures..
Pls Advice.
016-396xxxx
Hi kasturi,thank you for your comment. I already PM to your email.
Dear melissa,i would like to buy a new house with 220K for my family. But parent already retire n me n my sis salary sum up only less than 3000. we have an old house at the moment. maybe will rent out (500 monthly)or sell out. however, the new house is under construction n now open for booking.
Could you please advise what is the eligible loan that i can get? we have no idea on the home loan package, procedure and requirement. Thank You
Dear Fenny, i tried to send an email to you but the mail was turned down.Please provide your correct email address. Thank you.
i am planning to buy my first house, with purchase price of rm130k,my gross salary rm2600 and crrntly i dont have any commitment yet.
Hi..am planning to buy my first property next year, salary is only RM2,500 at the moment. Landed property is still expensive to me so am looking to buy an apartment at around RM185,000. Would I be able to get this amount of borrowing from the bank? Really appreciate your feedback. Thanks!
012-3892314
My sister and I are planning to buy an apartment/condo about RM220K or less than that… Both of us total earning about RM5K.. Currently we both do owe a car…
Do we able to get 100% loan?
Actually should we look for the property first? or should we look for the loan first??
hi melissa
i’m interested with the house which price is 370k. my gross salary is rm6250 and my age is 32. i plan to make a full settlement on my car and credit card. then, i don’t have other commitment except my personal loan amounted around rm1200 per month. i wish to know my eligibility and how much i need to spend monthly. like sharika kasturi, i also have no idea about the process and procedures.
thanks
I am 25 now and gonna buy my 1st house. My basic salary is RM 2.8k, and I have saved RM 30K++ for my downpayment. May I know if I’m eligible for landed property at RM250-300K? I don’t have other commited loans.
Besides, what do you think of freehold/leasehold?
Thank you.
Hi Ken, Thank you for leaving us a comment. I had PM you, pls check your email.
HI, my salary is RM3000 before deduct the EPF. After deduct the EPF will lower than RM3000. SO do I eligible for this scheme?
Hi Puah, Thank you for leaving us a comment. I had PM you, pls check your email.
hello melissa, this is my first time to get a house. i just want to ask, with a rm3000 salary a month, how much can i borrow? how much is the interest they will charge me? and how much must i pay for monthly installment? let say the hous im intrested in 300 000 ringgit?
Hi Ezuar, Thank you for leaving us a comment. I had PM you, pls check your email.
hi.. i’m planning to buy my 1st home..
with monthly salary 1.6k plus p/time 700. may i know the best home loan package? i dont have other commitment except my car loan (570).. i would like to buy a new house with 120K from owner.is it possible? 013330xxx
Hi there, Thank you for leaving us a comment. I had PM you, pls check your email.
Hi,
I am planning to buy a house and sharing it with my fiance. And our monthly commitment around RM500 for credit card and RM500 for car.
Anyway, can we share it with another third person, which is my father? His salary is RM6500 and monthly commitment of RM2000.
Could u advise me on :
1. How much do i have to spend monthly?
2. which bank offers the best package? As a staff of Sime, i’m entitled to get interest subsidy loan for BLR -2% or the actual interest rate.
3. Maximum amount of house loan and house value that i can make with our current salary?
We really have no idea on the home loan package, procedure and requirement.
Appreciate your feedback. Thanks.
Hi zatie, Thank you for leaving us a comment. I had PM you, pls check your email.
dear melissa, i plan to buy a new house. this is my first time to make home loan. my basic salary 13++ only. and every month i get 100 hour overtime work. i’ve already 6 year working at my employer. combine my OT and salary i get 2+++…
can i make a home loan? and can u calculate my limit to make home loan?
Hi, Thank you for leaving us a comment. I had PM you, pls check your email.
Hi, i’m single with salary RM2000. Could you please advise what is the eligible loan that i can get? what is the house value that i can make with my current salary? Please advise on the home loan package, procedure and requirement. Thank You
I am 27 now and gonna buy my 1st house. My salary is RM 5k after deduction of EPF. and I have saved RM 30K++ for my downpayment. May I know if I’m eligible for landed property at RM350k? I don’t have other commited loans.
Thank you.
Dear Zalil, thank you for leaving a comment here. Please check your email.thks.
I wish to know my eligibility for housing loan.
Combined gross salary of me RM4000, 1 car installments total RM700 every month, may I know what else are consider under our commitment? And if we wish to take a house loan about RM300k, are we eligible?
Dear Phoebe, thank you for leaving a comment here. Please check your email.thks.
hi Melissa, i plan to get a house for 1st time, my basic is 2300, and im paying for my car 750 p/m. How much will be my eligibility for house loan?
Thanks.
0129344xxx
Thank you for leaving a comment here. Please check your email.thks.
Hi,
I plan to buy a house (RM300k)in KL for my 1st home,
i would like to know my iligibility due to i’m working in singapore and having a S$2500 salary per month.
i would also like to know the process and procedures (really no idea for it).
Thanks & Regards,
Elaine Chung
Dear Elaine,
Thank you for the comment. I already PM you.
Hi Melissa,
1] I’m interested to buy a house with a price tag of RM 295k. The developer insisted on 10% d/p, whereas I can only afford 5% of the selling price. Is there any option to sort out this issue i.e 95% bank loan?
2] How to narrow down my eligibility if my income is not the same every month (depending on the number of days on-site)? My basic salary is RM 3750 and my income ranging from RM 4k to RM 8k every month.
Contact no: +6019-265xxxx
Hi Fizz, thank you for your comment. We already PM you.
i’m planning to buy my 1st home with monthly income 2.6k…. my commitment for car rm700 and others around rm300. How much will be my eligibility for house loan?
Hi Faizah, thank you for your comment. We already PM you.
Dear Elaine,
Buying my first house, looking for loan for RM198k. I am 28yrs and my net pay after deductions are RM5.8k. I am already paying a car installment of RM800. What is the best insurance package you can offer?
Hi Kartz, thank you for your comment. We already PM you.
hi,
I’m first timer, how to apply housing loan? am I eligible?thanks.
Hi Farid, thank you for your comment. We already PM you.
Hi..
I am planning to buy our 1st house in Sepang area.. Me n my husband’s combined salary is 6600.. Our monthly commitment are around RM1k for car and RM500 for investment…
Appreciate if u can advise me on..
1. Maximum loan we can apply
2. the best loan offer
3. process for EPF withdrawal
Hi Alya, thank you for your comment. We already PM you.
If i have a monthly gross salary of RM5000 and 1 car installment RM1000, how much can i borrow? I am looking for a condo at about RM350000. Thanks
Hi Justin, thank you for your comment. We already PM you.
Hi melissa,
I am planning to buy a house which would cost 610k and n wish to apply joint loan with my husband. Our monthly salary as for me is around rm4900 n for my husband is rm 3700 ( basic n allowance)
Could u advise me on :
1. which bank offers the best housing loan package after considering the interest/BLR that they provided?
2. Maximum amount of house loan, the tenure that we can make with our current salary and age ( 28 and 29rs old) since we really have no idea on the home loan package, procedure and requirement.
3. What is the meaning of disbursement fees, legal fees, etc that is being associated in applying housing loan and do we have to bear all those cost?
Appreciate your feedback.
Thanks amd regards,
anim
013338xxxx
Hi Anim, thank you for your comment. We already PM you.
hello,
1. I want to buy my first house. Since the banks only give 90% loan of the house price, i need to pay for the 10%. Is there any other alternative or any other banks that can give full loan because my savings is not sufficient enough to pay for the 10% downpayment.
2. Which bank offers the best interest?
Thanks.
Hi Win, thank you for your comment. We already PM you.
Dear Melissa/David,
I’m single, 29 years olds with basic salary 2.3k,no personal loan and no car loan.
I’m really need a condo/apartments urgently, most probably move in Dec (Area :manjalara/sri damansara/kepong), and i can provide around 17k for house deposit.
So,I’m planning to get my first house and dont know how much that i can ask for loan and what house price is suitable for me?
Please advise me on this, thank you in advance :-)
Hi Melissa,
I plan to buy house in Bandar Country Home Rawang.
The property purchased for 190k in 1995-1998.
The house is intermediate 2stry & its basic unit (without light & fan).
How much loan I can get for this property.
Hi,
I’m very keen to purchase a house costs RM350,000. And my take home salary is RM3,600 a month. I will be 36 years old next year, and would like to know what is the maximum amount that I can loan from any bank, the payment period and monthly payments that I have to make.
Thank you,
Nizreen
i just want to check om my eligibility for housing loan. My gross salary RM5000.00 and my monthly commitment is only RM1700 for personal loan. I’m keen to buy 2storey house@RM300K. PLease advise. thanxs…
Hi, i would like to check with u that both combine salary of mine and my fiancee’s is RM8500. We are actually looking to buy house in a combined account and the house that we planned to buy is RM285k. How much of loan we are eligible to get? Please do advise us. Thanking you in advance for your kind assistance.
Hi, I’m looking to buy my 1st house combine account with my wife. And both combine our salary is rm8000.00 and the house that we are planning to buy is rm290k. Do we eligible to get the full amount or we will be only granted 90% of the loan? If possible can we take out our 10% amount frm account 2 KWSP to pay the downpayment. Please advise me as I really got no idea in the housing loan procedures and calculations.
Thanks.
hi,
1. possibility of me for getting full loan / higher loan % with gross salry 5.5k to buy a 300K house? which bank offer the beal deal?
2. maximum years of housing loan if im 27yrs this yr.
3. ive commitment of 35% of my salary. in ur opinion, what the ideal/max value shud i pay monthly for buying the house?.
Hi…
Previously i worked as executive at Bank just for 6months (May2010-Nov2010) with monthly salary RM2.5k.
I just received offer letter as Pegawai Pendidikan Pengajian Tinggi (Government) with monthly salary+Allowance RM2.8K. But this job still not start yet. Will be start on Jan2011
My wife income is RM2k/month
I willing to buy house RM300k 100% loan joint name
I am qualify to make a housing loan as i not start my job.
i want to know my eligibility for housing loan.
If my gross salary rm1500 n my wife is rm1500.car installment rm600 .i’m interested with the house which price is 180k…how can i get loan 100%/90%? since its more than 1/3 of our salary?
I am planning to buy a house which would cost 250k and n wish to apply joint loan with my husband. Our monthly salary as for me is around rm3000 n for my husband is also rm 3000 ( basic n allowance)..
Could u advise me on :
1. which bank offers the best housing loan package after considering the interest/BLR that they provided?
2. Maximum amount of house loan, the tenure that we can make with our current salary and age ( 29 and 31 yrs old) since we really have no idea on the home loan package, procedure and requirement.
3. What is the meaning of disbursement fees, legal fees, etc that is being associated in applying housing loan and do we have to bear all those cost?
Appreciate your feedback.
Hi..
I am planning to buy my 1st house in Johor Bahru area.. My salary is RM5,800.. My monthly commitment are around RM1k for car and other loan…
Appreciate if u can advise me on..
1. Maximum loan and monthly installment I can apply (the eligibility for me to apply for housing loan)
2. the best loan offer
3. process for EPF withdrawal
Hi! Me and my gf plan to buy a house before we get married. Her income is 2k+ and my income range from 3k-10k per month depend on my business performance. I read Bout the first house scheme. Are we eligible to buy our first house under the first house scheme and eligible for 100% house loan? Contact number 0135621311
Hello
I plan to buy my first house with a range of RM100,000 to RM250,000. My monthly salary is RM3000. My car installment about MYR400 for 9 year.
1. which bank offers the best housing loan package?
2. May i know the maximum amount of house loan and house value that i can make with my current salary?
3. What is the meaning of disbursement fees, legal fees, etc that is being associated in applying housing loan and do we have to bear all those cost?
4. How the process of EPF withdrawal for 10% downpayment?
Really appreciate your help and advice. Thank you.
Hi, i got 2 house under my name but 1 is full payment by my father, another is share name with my friend (but he the 1 who make the house loan).
i would like to ask, if i wan to made a house loan, am i consider 1st time buyer under? the new house is around 70k..can i get full loan?
I’m interested to know regarding the 1st house scheme by the govt and for 100% loan from financial institution. We are eyeing for a landed property that cost RM350k.
Hi Melisa,
I am looking for a home in penang.I have found few but need to know what will be my monthly expenses and how much am i eligible for.As i have read the question posted,mine is almost similar but just adding on that my salary is 2900 and adding my mom’s salary together with me.I am interested in a hse that is about 200k to 350k.Pls advice on the procedures,what would my monthly expense will be like and what other expenses will occur as well on how much i am eligible for?
i want to know my eligibility for housing loan.
my gross salary n my husband is RM6500. how much will be my eligibility? am i eligible? and how much i need to spend monthly?
hai melissa,
i’m looking fwd to make a bank loan about 200k.my net salary after deduction from list below is 2.5k. how much maximum bank loan i can apply with my commitments:
1. asb loan rm 1000 per-month (maybank&cimb)
2. car rm 650 (ambank)
hello,
My current income is base on my basic RM 2.6K + fixed monthly allowance RM 600, Age of 25 years old, i don’t have any commitment except need to pay my ptptn loan, would i be able to get loan say 90% of 350k for housing loan?
hi melissa
i’m planning to buy my 1st home of 2choices
1)165k
2)230k
With monthly income 3k. my commitment only for car RM650.
How much will be my eligibility for house loan?
Hi,
just want to know if combined salary i & husband around 4500 monthly..how much i can borrow a loan? monthly exps include car & rental house is 1000..please advice i wantto buy own house hopefully landed..thanks
hye my salary rm2600 so i just want what kind of property eligible for me and if rm350k would it be okay..i’m planning to joint with my brother but now he’s not permanent yet until march so can i buy property more than rm350k? this is my 1st house
I am 25 now and gonna buy my first house. My basic salary is RM 2800,May I know if I’m eligible for landed property at RM250-320K?Is it possible to get 95% loan?
Hi Melissa,
I’m planning to buy a house (first house) with price around 300k. My joint salary with my wife is around RM5000 per month. I would like to know my affordability, types of loans availables and current BLR rate? Do I available to borrow 100% loan?
hye..
1. i wanna buy a new house,my 1st house. how much loan i can get if my:
a. my monthly salary is rm 6200.
b. my wife monthly salary is rm 5300.
c. i’ve car’s loan on 5th years monthly rm 650.
d. my wife car’s loan monthly rm 1350.
im interested to buy a new house in putrajaya price rm 608,000 but i want to make a loan around rm 500,000 only.both of us is 26yrs old.
0193893927
Hello..I have same questions as Tony with some changes in details:
I plan to buy my first house with a range of RM100,000 to RM250,000. Both my husband’s and my monthly salary is RM2800 equal to total of RM5600. My car installment about MYR640 for 9 year.
1. which bank offers the best housing loan package?
2. May i know the maximum amount of house loan and house value that i can make with my current salary?
3. What is the meaning of disbursement fees, legal fees, etc that is being associated in applying housing loan and do we have to bear all those cost?
4. How the process of EPF withdrawal for 10% downpayment?
Really appreciate your help and advice too. Thank you.
Hi,
I’m going to buy my 1st house soon,my nett salary is RM2100-2300. I don’t have any car or any loan so far. The property that I’m gonna buy worth RM130k. Can I to get full loan as my saving is not enough to pay 10% down payment? which bank offer best interest? and how much would my installment be? Besides,is there any additional cost like lawyer fee etc. how much?
Thank you so much for your advice
Dear Asmalini,
I had PM u.TQ.
my take home pay is rm6900 wif a car loan of rm2900. what sort of a housing loan am i eligible?
tq
my take home pay is rm6900 wif a car loan of rm2900. what sort of a housing loan am i qualified for?
Hi Vincent,
I had PM you.tQ.
#
i want to know my eligibility for housing loan.
my gross salary 1470 n my husband is 2400. how much will be my eligibility? i’m interested with the house which price is 130,000. am i eligible?and how much i need to spend monthly?
Hi Linda, i already PM you.TQ
Hello
I plan to buy my first house with a range of RM100,000 to RM150,000. My monthly salary is RM1470 and my husband RM2400. My car installment about MYR290 for 9 year and my husband rm930 for 9 years.
1. which bank offers the best housing loan package?
2. May i know the maximum amount of house loan and house value that i can make with my current salary?
3. What is the meaning of disbursement fees, legal fees, etc that is being associated in applying housing loan and do we have to bear all those cost?
4. How the process of EPF withdrawal for 10% downpayment?
Really appreciate your help and advice. Thank you.
Hi norhaslinda, i already PM you.TQ
Hi,
I would like to buy a house, do you know the lawyer fees for Bank and S&P? I just got to know a lot of cases of overcharging. Hopefully i can get the baseline value from expert. Thanks.
Hi Mala, i already PM you.TQ
hi,
i earn about RM4300 take home pay and my wife earns 2300 take home pay as well. if we are looking at a rm 540k house, are we eligible? the loan should be at a 90% + 5% MRTA. thanks
Hi Lee, i already PM you.TQ
Hello..
I am planning to buy my first house. My net income is RM2100/mth and I am 30 now. Currently, I have:
1. Study Loan ~RM400/mth
2. ASB Loan ~RM400/mth
Can you please advise:
1. What is my affordability range on landed properties in Seremban?
2. How much loan I am eligible to get?
3. What are the others fees/charges that I need to pay (that might not covered by the housing loans – if any)?
Thank you.
Hi Shan, i already PM you.TQ
Hello
Hi,
I’m a first time home buyer and I’m interested to buy a house costing at RM200,000. My monthly salary is RM3,000.
1. which bank offers the best housing loan package?
2. May i know the maximum amount of house loan and house value that i can make with my current salary?
3. What is the meaning of disbursement fees, legal fees, etc that is being associated in applying housing loan and do we have to bear all those cost?
4. How the process of EPF withdrawal for 10% down payment?
Thanks.
Dear Viji, I already PM you.TQ.
Hi there,im planning to purchase a house in Rawang before March this year. It is a completed property and the owner is selling it around RM285,000.
Im 31 this year and my basic income is RM5,500 plus monthly allowances around RM1,500 per month. others commitments i have now is my car loan and credit card.
Can you please advise:
1. Can i afford the house?
2. How much loan I am eligible to get?
3. What are the others fees/charges that I need to pay (that might not covered by the housing loans – if any)?
Thanks
Saiful:
Hi…
My salary is RM2800 after EPF decution and my husband is an interior designer with his own registered company(enterprise) ….roughly income will be 5K per month, but my husband dont have proper documentation for his salary, no epf, no income tax, so how we can go for home loan..how much loan we can go? Monthly commitment only car RM650, under my husband name, my credit card and his credit card,
Dear Nat, I already PM you.TQ.
Good day,
Hi,
I plan to buy my first house at rawang price Rm70k(already completed) but I want to make house loan RM100k.Is it possible for me to do so? Extra 30k will be use for renovation,furniture etc.Furthermore, is it possible to get 100% house loan as per RMK-10?
FYI, my monthly salary is RM1900 w/out other commitment.
Dear Myya, I already PM you.TQ.
Hi Melissa,
I’m earning RM 3500 p/month (private sectors) and my wife’s RM2300 p/month (government servant). I’m paying RM1250 for my car and my wife’s paying RM500 for hers. Other than that we don not have anymore loan to pay except monthly house bills, ASB Loan and house rent which is RM550 p/month. We don’t have any problems with credit cards. So, how much could we get from banks to buy our first house? I am 30 this year and how long could i get the loan? Thanks
Dear hafiz, I already PM you.TQ.
Hello!
I wish to know my eligibility for housing loan.
My hubby and I is the first time home buyer and our budget for the house is max RM250k.
Our combined gross salary is approximately RM5k-RM6k, 1 car installment total RM580/month.
1) May I know whether we eligible?
2) How much is the monthly instalment if we pay RM30k for down payment?
3) what is the maximum period we eligible for the house loan instalment(as now my husband is 30 years & me is 26 years)?
Hope you able to advise me.
Thanks a lot.
Dear lwf, I already PM you.TQ.
Re:
Hi,
I’m going to buy my 1st house soon,my nett salary is RM2100-2300. I don’t have any car or any loan so far. The property that I’m gonna buy worth RM130k. Can I to get full loan as my saving is not enough to pay 10% down payment? which bank offer best interest? and how much would my installment be? Besides,is there any additional cost like lawyer fee etc. how much?
Sorry, I didn’t get any replies in my inbox, could you send one more time to me? Here is my email addres: as_angie@yahoo.com
tqvm..
Hye,
I’m interested to buy my 1st house.my nett salary is RM1740.i don’t have any commitment except my personal loan RM200. My question is
1. How much is the price of house i’m eligible to buy? (Am i eligible to buy a house worth RM170K?
2. Can I to get full loan as my saving is not enough to pay 10% down payment?
3.What is the 1st move actually? I’m worry to call any owner or agent to deal the process as i’m worry if my home loan unsuccessful.
Hi, I am earning rm2800 minus my bonus and commissions. I am looking to get a house in kl. I would be a first time buyer. Can I get more info on that. Thank you
Answer:
Hi, thanks for your question and I will straight answer your question.
1. Calculate You Loan Entitlement
First of all, we need to know your loan entitlement. So, I’m going to assume your net income is RM2800, and you have at least one commitment, maybe a credit card.
Let said, your credit card outstanding is RM2000. So, the minimum amount you need to pay is RM2000 x 5% = RM100.
Alright. Net income RM2800. Commitment RM100.
Note: The bank will consider commission and bonus if you can prove the consistency of receiving such income for months and years. If they accept, your loan entitlement can be higher.
How much loan can you take?
To calculate, we need to know your maximum Debt Service Ratio (DSR).
RM2800 x 60% (max DSR) = RM1680.
Note: The range of bank DSR is from 60% to 85%, depending on the borrower’s net income. For the sake of calculation, we’re using the average DSR of 60%.
Now, the maximum commitments allowable to have is RM1680. And you have one existing obligation of RM100, minus that your balance is RM1580.
Therefore, your new home loan installment cannot exceed RM1580.
So, the next step I’m using a financial calculator app, where you key in the installment amount, maximum tenure 35 years, interest rates of 3.30%, and Boom! Your maximum loan amount entitlement is RM393,000.
Now, you know the maximum loan you can go to is RM393,000. And to know the house price, Follow this formula.
Maximum entitle loan / 90% margin = Purchase Price
RM393,000/ 90% = RM436,000
So, it would be best if you are aiming at a house price of below RM436,000.
Disclaimer:
The above calculation is not final. And you’ll still subject to bank’s approval, and there are still many aspects to look at for a bank to approve your loan. Therefore, it is best to consult us before proceeding with any house booking.
2. Take Advantage Of The Goodies
All these goodies are only for First-time house buyers.
a. Stamp Duty Exemption 2020.
Stamp Duty Exemption 2020 is an exemption or rebate given by the Malaysian Government to a first-time homebuyer.
The Stamp duty exemption 2020 is given to first time home buyers that purchasing a property worth RM500,000 and below.
The stamp duty exemption is for the first RM300,000 property value stamp duty on the instrument of transfer. That will be up to a maximum stamp duty exemption of RM5000.
The stamp duty exemption is extended to the stamp duty on loan agreement too.
For stamp duty on the loan agreement instrument, it is also for the first RM300,000 loan amount. That will come to a maximum stamp duty exemption of RM1500.
Therefore, the stamp duty exemption is up to RM6500 to grab.
You can read the full article here: https://malaysiahousingloan.com/exemption-for-stamp-duty/
b. Home Ownership Campaign
The Home Ownership Campaign (HOC) is a government initiative designed to support homebuyers looking to purchase property while also spurring the sale of unsold properties by developers in Malaysia’s housing market.
The brief criteria for Home Ownership Campaign (HOC) are as follows.
a. Period: 1 June 2020 – 31 May 2021
b. For Property Price: RM300,001 – RM2.5mio
c. Stamp duty exemption on Instrument of Transfer for the first RM1 million.
d. Stamp duty exemption on the Instrument of Securing loan up to RM2.50 mil.
e. With a minimum 10% discount from the developer.
We hope this is helpful.
If you need any further assistance from buying a house, getting a bank loan, or engaging an experienced lawyer, you can reach us here or call us on 012-6946746 and talk to Mr. David.
Good Luck!
LIKE, SHARE & FOLLOW US!
#malaysiahousingloan
Melissa Lee
Online Mortgage Consultant
Call or Whatsapp Us: 012-6946746 (talk to Mr. David)
MORE INFOR:
http://Www.MalaysiaHousingLoan.com
SUBSCRIBE:
https://www.youtube.com/malaysiahousingloan
LIKE & FOLLOW:
https://www.facebook.com/malaysiahousingloan/