Housing Loan package

[Chin Eng]

One major part of the consideration or even critical factor that eventually influence the decision to buy a house is housing loan. Please share your experience and packages that you have got here .....

I suggest people use the following template in sharing their loan package:

Bank:
Interest rate:
lock-in period:
Zero entry cost?:
Flexi repayment and redraw?:
Margin of Finance:
MRTA?:
can start repayment upon first release of $?:
How long for loan approval?:
Free gift?:
courtesy of sales officer (e.g. wiling to visit your house to get doc signed etc):

[squidhee]

i think one factor that u need to consider is that whether the bank u choose for loan is easy for you to pay the monthly repayment.

I chose public bank cuz i can do a standing order from savings acc, no need to go to bank every month. even if need to go to the bank, public bank is just around the corner in Tmn Sri Muda & Tmn Sentosa.

Of course, plus public gave me d best rate and service, just made it top choice for me.

[Chin Eng]

Thanks squidhee, yes, of course that is one important consideration - convinience to pay the installment. But I guess this can be traded off if the rate is superb great ... hehe :)

Can share what is the interest rate that public bank offer you? do you mind providing more info on the package?

Ari gato go cai mas ...

[ray lee]

hi chin eng..
arrr.. choosing a housing loan brings much headache if u don't know what's the deal.. actually u can apply for loans from all banks at the same time.. no obligations.. then only u can compare their offers.. do it quick, people tends to make mistakes when under stress to secure a loan..

[Chin Eng]

Thanks Lee for your tips!

Can share the loan that you got?

[ray lee]

i am sure there are lots of bankers stationed there in the sales office.. consult every 1of them.. i think the rates are more cheaper now than when i took months ago..

my home loan package...
Bank: std chart
Interest rate: BLR-2.05
lock-in period: 5 yrs
Flexi repayment and redraw?: flexi
Margin of Finance: 89%
MRTA?: compulsory
can start repayment upon first release of $?: dunno
How long for loan approval?: 2 weeks
Free gift?: none

[Chin Eng]

Thanks Lee. It's still quite good considering months ago .....

[squidhee]

yeah ray is right. I think the bankers in Paramount sales office offer really best rates for KU buyers.

Bank: Public
Interest rate: 0% for 1st yr, BLR-2.1 thereafter
lock-in period: 5 yrs
Flexi repayment and redraw?: semi-flexi
Margin of Finance: 90%
MRTA?: compulsory
can start repayment upon first release of $?: dunno
How long for loan approval?: fast if ur docs are complete - less than 2 weeks
Free gift?: Philips water filter

[Chin Eng]

Hi squidhee, that's one hell of good package you got there!! Thanks for sharing. by the way, is it zero entry cost package or you have to pay the legal/stamp duty fees for loan?

[place]

Hi,

Not sure if you are considering PBB...if u r....i can intro u the banker who got me my home loan....quite fast and efficient...

[Chin Eng]

Hi place, you can message me the contacts, I'm open to any bank now as still at early stage of research. THANK YOU!!

By the way, can share the loan package that you got?

[place]

Chin Eng, i've added you as friend, so i can message you the contact...
Not convenient to post contacts in a open forum..so anyone else interested..let me know.. :D

mine was taken 1 yr ago or so..

Bank: PBB
Interest rate: BLR - 1.65
(now the rates could go as high as -2.15 or -2.2, coz my IR2 fren got it from her too)
lock-in period: 5 yrs
Zero entry cost?: Optional, but i didn't take
Flexi repayment and redraw?: Yes, minimum 5k
Margin of Finance: up to 90%
MRTA?: Included, ING
can start repayment upon first release of $?: Yes, mine starts right after the 1st $ release to developer
How long for loan approval?: 1 to 2 weeks
Free gift?: DVD player
courtesy of sales officer (e.g. wiling to visit your house to get doc signed etc): quite good...manage to even meet her up at 11pm or early sat morning...

[Chin Eng]

Hi place, I have added your invitation. Thanks for sharing your loan info!!