8 Practical tips when buying a home
Buy a home you can afford
Only 40% of your net income should be used to pay off debt so you don’t risk defaulting on your payments. You should include any home loans, car loans, personal loans or credit card debt that you have. Use our calculator or read our article to find out what home you can afford.
Call your bank to get a preliminary check on your loan eligibility and the estimated valuation for your property.
You don’t want to lose your deposit or booking fee when you suddenly realize that the loan amount from the bank is not enough to complete your purchase!
You can also check your credit report with CCRIS or CTOS at https://www.ctoscredit.com.my/. To get a clear summary of your outstanding debt and payment history. These factors will affect your eligibility.