Shah Alam, Selangor

Housing Loan package

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):

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Replies to This Discussion

Permalink Reply by Steven Yip on July 19, 2009 at 5:30pm: sorry SFC for the late reply. Nope, the 1% is not waived that is where they "earn" our money. Other banks don't do that. Just MBB for this particular case.

you need to make sure what is advance payment and what is pre-payment, it's different. our flexi-plan means it's advance payment where it will minus out the principle directly when you pay more. not like the other type of loan where you do pre-payment and don't adjust directly.

But only significant amount would make any different on your principle.; ▶ Reply to This

Permalink Reply by Chin Eng on August 21, 2009 at 4:59pm: Steve .. actually it is terbalik ... pre-payment is what you want, i.e. reduce your principal. Advance payment doesn't reduce principal but you pay the installment in advance so that it can be deducted for future installment when due.; ▶ Reply to This

Permalink Reply by Sam Ng on August 21, 2009 at 4:33pm: this is a double post as i notice this thread after posting. but this thread is more appropriate for me question.

hi

i am in the process of securing loan from Paramount panel ie CIMB and Maybank for IR2. since i am going for the 5/95 scheme, does it matter if i go with either bank, other than the usual criteria such as service level, competency level, etc?; ▶ Reply to This

Permalink Reply by Macchi on October 30, 2009 at 10:55pm: Hi, looks like you are also on the 5/95 scheme and by now have completed the Loan process. A couple of weeks back, the legal firm JM Chong told me that I would not be getting back my signed loan document. Are you facing this as well? They say that because its under the 5/95 scheme, the legal firm will hold the doc for 2 years until the house is ready.

Is anyone else facing this same experience? I've never has my loan with held before after its approved. Please feedback .

tks,; ▶ Reply to This