The way to calculate the installment
Posted: Sat Dec 28, 2024 8:14 am
So you have to count it. Once you have all this data, add up all the commitments. New House Installment The second component in the DSR formula is the installment for the house you want to buy. To calculate this, you can just Google any housing loan calculator. Or if you want to calculate it easily, you can use this method. Suppose you want to buy a house for RM500,000 and borrow 90% of the house, i.
Is to divide RM450,000 by two. Then remove the 2 blanks at the end. colombia whatsapp fan House Installment = 450,000 / 2 = 225,000 = 2,250 Note: this estimate applies to loans with a term of 35 years only. For shorter terms, it's best to use a calculator. Net Income This net income refers to your regular gross salary minus EPF, SOCSO, zakat and tax deductions.
If you have irregular income such as overtime, you need to average it over the past 6 months. For example, let's say your total OT over the past 6 months is RM6,000. What can be added to the net salary is RM1,000 (RM6,000 / 6 months). There are also some banks that only take 50% to 80% of the average salary. For rental income from an existing house, you can mix it in.
Is to divide RM450,000 by two. Then remove the 2 blanks at the end. colombia whatsapp fan House Installment = 450,000 / 2 = 225,000 = 2,250 Note: this estimate applies to loans with a term of 35 years only. For shorter terms, it's best to use a calculator. Net Income This net income refers to your regular gross salary minus EPF, SOCSO, zakat and tax deductions.
If you have irregular income such as overtime, you need to average it over the past 6 months. For example, let's say your total OT over the past 6 months is RM6,000. What can be added to the net salary is RM1,000 (RM6,000 / 6 months). There are also some banks that only take 50% to 80% of the average salary. For rental income from an existing house, you can mix it in.