How to Calculate Housing Loan Eligibility Finally

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Also read: there is net income. Net income is your gross income, minus EPF, SOCSO, Periodic Tax Deductions (PCB) and zakat. check housing loan eligibility Let's take an example. Let's say you want to buy a house and your net income is RM5,000. You have a car loan of RM1,000 and the installment for the new house is RM2,000.


So in this situation, your DSR is 50% (RM1,000 + RM2,000 / RM5,000). dominican republic whatsapp database Once you have this DSR, compare it with the maximum DSR limit set by the bank. In the current market, usually the maximum DSR limit for banks is as follows: For income less than RM3,000 – 60% Income over RM3,000 – 70% If we use the example above, your DSR is 60%. Since your income is more than RM3,000, your DSR limit is 70%.


In this case, you are most likely eligible for a loan because your DSR is lower than the bank's DSR. Now that you know your financing eligibility, my advice is don't just go ahead and buy a house. You must…. 2) Check Your Ability to Pay Loans Even if you qualify for a RM1 million loan, that doesn't mean you can afford to pay. Why? Because everyone has their own financial challenges .