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If you buy a home of RM300k and borrow 90% for 35 years which are the maximum amount and duration that you can borrow. the monthly bank instalment is about RM1,300/month. Your net income should have around RM1,900 to qualify. You need to prepare about RM50,000 as balance downpayment, stamp duty and lawyer's fees. Loan approval application is usually very fast (within 2 weeks) provided all documents submitted are in order. However, the loan process will only start after you have identified a property to purchase and signed the Letter of Offer. You will need to start saving the money for the balance downpayment. stamp duty and lawyer's fees if you have not already done so.
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