How do I know which home I can afford?

 How do I know which home I can afford? 

Most of the times, a home buyer does not know how much they can afford for buying a house.

You can calculate how much you can afford by online mortgage calculator, that will help you estimate/ calculate an affordable monthly mortgage payment for a more accurate figure. 
  
Nowadays, everybody can access to website and smart phone applications to get a mortgage calculator.

With these home loan calculator, you may

• Estimate monthly home loan repayment amount.
• Generate pie chart of housing loan principal versus interest amounts.

Below is the link of mortgage calculator that you may refer (Just click the link):

• Home loan calculator 1 

•    HSBC home loan calculator

•  CIMB Home Loan Calculator 

Below is the Malaysia loan Interest Rates and Banks' Home Loan Interest Rates that can be referred

Malaysia Housing Loan Interest Rates:

 

Base Lending Rate (BLR) = 6.6%
Maximum Loan Amount = 90% of property price.

Bank Fixed-Rate Home Loan Interest Rates:

You can calculate your monthly repayment ability using these mortgage calculator.

Normally, the monthly repayment amount is advise NOT to exceed 30% of your net income
 (income - other loan commitment) 

Of course, you can consult an experienced home loan expert, who will look at your income, debt and credit to determine your loan eligibility.

3 things to determine your housing affordability:

• Cash  in hand
• monthly income
• loan affordability 

   

Introduction !!!!

Cheers.

Please allow me to introduce myself. I am Jimmy, an real estate negotiator.

As a full-time real estate negotiator, I have been helping my clients buy, sell or rent properties in Sungai Petani. In part because my years of experience in this field have help me understand some knowledge about real estate.

My expertise is as below:

Selling/Renting a Home

- As an experienced professional who has helped many homeowners sell/rent their homes for the best possible price in the shortest amount of time.
- I able to help to handle every aspect of the sales/renting process

Buying/tenanting a Home

- I am representing the best interests of buyers throughout the home buying process.
- My services save client's time and money, as well as make the experience more enjoyable and less stressful.
- So whether clients are a first time home buyer, upgrading, or relocating, I take the time to get to know what's important for client's and clients' lifestyle to have in clients' new home and neighborhood.
- In addition, I am working closely with many mortgage lenders/ bankers for helping clients in applying housing loans.

I noticed that quite a lot of my clients who looking for selling/buying, renting properties do not have sufficient knowledge about real estate.

This blog is created to share real estate experience/knowledge that I have learned.