A Story Of Fresh Graduate With RM1500 Income

/, Home Loan Library, Latest News and Update/A Story Of Fresh Graduate With RM1500 Income

A Story Of Fresh Graduate With RM1500 Income

Mr Faizal (not the real name) is a fresh graduate. He is happy to get a new job. His salary is RM1500 per month. For him, it is sufficient for now because he is single and he doesn’t have any commitment.

Until one day, he needs to buy a house. He is interested in purchasing a low cost apartment at RM60k purchase price.

He put a booking and apply for a bank loan from multiple banks.

Within a few days, he gets replied from them. Most of them rejected his case. And only one Bank approved his loan with RM39,000 loan. Still, he needs to come out with a lot of cash.

Downpayment RM21k, SPA lawyer Fees about RM3k-4k, Loan Lawyer Fees about RM3k and Valuation Fees RM600. Total RM28,600.

Some people might say he is still lucky to get a loan in his situation but still for a fresh graduate to come out with RM28,600; it is a difficult task.

The next move, he might need to ask from his parents for that kind of cash, and hopefully, they will be able to help him.

We guess a few factors contributed to the loan rejection are as follow:- 
1. Faizal has a low income; the ideal income will be above RM2500.
2. He is still new at his job. So, job stability is the main issue here.
3. Customer without any commitment used to be a good factor in the old days. On the current trend, bank prefers a borrower to have minimum one loan facility, so that the borrowing and repayment habit can be tested.
4. Most banks are not keen on doing less than RM100,000 loan. Sometimes, they will offer a high-interest rate home loan, slash down the home loan margin or even reject the application.



For more Home Loan information and enquiry,
please call/ Whatsapp us at +6012-6946746
or visit our website www.malaysiahousingloan.com

#malaysiahousingloan #housingloan #MalaysiaHomeLoan #homeloaninmalaysia #homeloan #housingloaninmalaysia

Contact Us

By | 2016-11-01T10:45:56+00:00 September 23rd, 2016|Buying A Home, Home Loan Library, Latest News and Update|0 Comments

About the Author:

Hey guys, thank you for coming here and check out our website. We have been doing this housing loan loan services more than a decade and i truIy feel old already. Our website is updated frequently. You can always find us at google+ or our youtube channel http://www.youtube.com/user/malaysiahousingloan. Along the years, we helped thousands of people with their home loan. Sometimes we felt our works is worthy because we help many people to get their dream house. Please come and engage our services. We promise to guide you through and be there when you need us. Until next time, Good Luck!

Leave A Comment