Hello, if you are below 35 years old with a gross income of RM2,400/month, you are eligible for a debt service ratio (DSR) of RM1,440/month ie. existing loan (housing, hire purchase, personal loan and credit cards) and the new housing loan commitment). Eg. if your existing monthly loan commitment is RM700/month then your eligible DSR for the new housing loan is around 740/month. With this you can only afford a condo./apartment not more than RM200k in value. You will need to budget savings for at least 10% of the downpayment, stamp duty and lawyers fees for both Sale & Purchase Agreement and Loan Agreement if you are buying a property from the resale secondary market. If you are buying from developer's new projects, some of the costs may have been factored into the pricing by the developers to assist buyers to get maximum loans to cover some of those costs.
David Wong (Licensed Agent E2097)
Mobile:
+60193330573
Foreward Realty Sdn Bhd - E(1)1909
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