loan

(adsbygoogle = window.adsbygoogle || ).push({}); Once you have decided on a property to buy and know what documents you need to prepare, you will next need to know what are your property loan options. There are many choices in the market, and making the best choice may help you save more money in the long run. We list them down below:  1. Term Loan The term loan is once of...

Earlier in August this year, Bank Negara Malaysia (BNM) announced the release of the Revised Reference Rate Framework, which will be effective August 1, 2022. Under this new framework, the Standardised Base Rate (SBR) will be used as the reference rate for new retail floating-rate loans, replacing the existing Base Rate (BR). What is the Standardised Base Rate? First, it helps to understand how...

Required Documents for Home Loans The loan purchaser is divided into 2 categories: Employer (Er) and Employee (Ee). Then the Ee is further sub-divided into salaried employee and commission earner. Cash purchaserLoan purchaser or Mortgagor Employer Employee Salaried employee Commission earner For loan purchasers, the standard documents that banks generally require are: Copy of purchaser's...

There are 2 types of purchasers: Cash purchaser Loan purchaser A cash purchaser buys properties with 100% cash. A loan purchaser buys properties by borrowing money from the bank. The loan purchaser can finance his property purchase with a bank loan of up to 90%. Therefore, the loan purchaser only needs to fork out a downpayment of 10% for the property....

The clock has started ticking. The minute the purchaser gives the earnest deposit and both parties sign the Agreement To Purchase (ATP) or booking form; the clock starts ticking. Mr and Mrs Tan have 14 working days to secure a bank loan approval and to subsequently sign the Sales & Purchase Agreement (SPA). Since Mr & Mrs Tan are first time home buyers, they are unsure which bank to apply for a...