To ensure responsible and transparent financing protection for both consumers and financial institutions, banks perform a credit check on the borrower’s CCRIS report, income supporting documents, debt service ratio (DSR), and also, net disposable income (NDI) when reviewing a loan application.
For DSR, the overall acceptable average DSR is around 60%. Some banks are more lenient, going as high as 80% DSR, while some are very conservative, going as low as 40% DSR.
As for NDI, it’s a measure by banks to ensure that home loan borrowers are able to live a standard lifestyle after all the loans commitment.
So, if your profile doesn’t meet the bank’s lending criteria, your loan application will be declined and here’s what happens afterwards.
Check Your Home Loan Eligibility with LoanCare in 5 Easy Steps
Step 1 – Visit LoanCare on iProperty.com.my
Step 2 – Provide Your Info
Fill in the fields in the respective Employment & Salary, Earnings, and Commitment sections.
Step 3 – Review Indicative Loan Eligibility
For example, if you’re 30 years old with a monthly income of RM5,000, and have a monthly home loan repayment of RM1,500 and monthly car loan repayment of RM1,000, then the indicative borrowing amount is RM249,150.
Step 4 – Enter Your Email Address To Receive the Full Loan Eligibility Report
Step 5 – Check Your Email For The Full Loan Eligibility Report
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