Best Mortgage Consultant.

Max loan tenure : 35 years or up to age 70, whichever is earlier.

Standard turnaround time within 7 working days with complete valid documents & information required by bank.

Your housing loan eligibility in Malaysia depends on several factors, including your income, financial commitments, credit score, and loan tenure. Here’s how you can check:

1. Debt Service Ratio (DSR) – Banks use DSR to assess your ability to repay a loan. Most banks prefer a DSR below 60%, but this varies.
   
   
2. Minimum Income Requirement – Different banks have different minimum income thresholds. Some require at least RM3,000 per month, while others may accept lower amounts.
   
   
3. Credit Score & CCRIS Report – Your credit history plays a big role. Banks check your CCRIS (Central Credit Reference Information System) report to see if you have any late payments or outstanding debts.
   
   
4. Employment Status – Salaried employees need to provide payslips, EPF statements, and tax forms.

Self-employed individuals need business registration documents, profit & loss statements, and bank records.

• Facility Agreement Fee – Legal Fee & Stamp Duty
  
  
• Valuation Fee ( for completed property )

Debt Service Ratio (DSR) is a financial metric used by banks in Malaysia to assess your ability to repay a loan. It measures the percentage of your monthly income that goes toward paying off debts, including existing loans and credit card commitments.

Refinancing is the process of replacing your existing home loan with a new one, usually to secure better terms, lower interest rates, or access additional funds. In Malaysia, homeowners refinance for reasons such as:

• Lower Monthly Payments: By securing a lower interest rate or extending the loan tenure.
  
  
• Cash-Out Refinancing: Accessing extra funds for renovations, investments, or other financial needs.
  
  
• Debt Consolidation: Combining multiple loans into one for easier management.
  
  
• Switching Loan Types: Moving from a conventional loan to an Islamic financing option.

Choosing a mortgage consultant over going directly to the bank can offer several advantages, especially if you want a smoother and more personalized loan process. Here’s why:

1. Access to Multiple Loan Options
Banks only offer their own loan products, while mortgage consultants compare multiple banks to find the best deal for you. They can secure better interest rates and loan terms that you might not get on your own.

2. Higher Chances of Loan Approval
Consultants pre-qualify you before submitting your application, reducing the risk of rejection. They know which banks have flexible approval criteria, especially if you have a lower credit score.

3. Saves Time & Effort
Instead of visiting multiple banks, a consultant does the research and paperwork for you. They handle the entire loan process, from application to approval.

4. Expert Financial Guidance
Consultants analyze your financial situation and recommend the best loan structure. They help you understand hidden fees, loan tenure, and repayment strategies.

The key difference between a Licensed Outsourced Mortgage Consultant and a Mortgage Consultant without a license lies in their qualifications, credibility, and access to financial institutions.

Licensed Outsourced Mortgage Consultant are officially certified and regulated by financial authorities. Has access to multiple banks and loan products, allowing them to compare and secure the best deal. Can provide professional financial advice and loan structuring. Works independently and is not tied to a single bank.

Mortgage Consultant Without a License
Not officially certified or regulated. May have limited access to banks and loan products. Might not have the same level of expertise or credibility as a licensed consultant. Could be working informally or as a freelancer without industry recognition.

If you’re looking for reliable mortgage advice, it’s always best to go with a licensed consultant to ensure transparency and professionalism. You can read more about different mortgage professionals in Malaysia here.