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| Step 3 – Making The
Application. |
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| Have ALL your documents ready. [see
List Of Documents Required].
Applications with incomplete documents will only delay the approval process. |
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| For applicants who come under the ‘Employed” category,
be sure to have bank statements ready, as Lenders will definitely want to see
the state of you bank account where your salary is credited. |
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| For self employed applicants, you may
need to submit some of your company/business’s financials unless your official
income (income tax income) is adequate to meet the Lender’s DSR. |
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| Presently Malaysian Lenders do not charge an
application fee and there is no legal obligation for you to accept any Letter
Of Offer. You are free to apply to as many Bank/Lender as you wish and choose
the best offer.
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| An application accompanied with complete documents will
usually take no more than 5 working days to yield a formal answer from the
Lender.
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| Some Lenders give Indicative Letters Of
Offers which are NOT legally binding documents and in all likelihood have not
been formally approved by the relevant department of the Lender. If you are
unsure of whether the loan will be approved or not, it is important to have
formal and binding Letters Of Offers prior to committing to the purchase. |
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| Next: |
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Home Loan Finder |
Apply a Home Loan |
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