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You’ve found your dream house, and you think it’s a good time to commit and apply for a home loan. Feeling confident, you go to the bank to submit your application…
… only to have it rejected.
This scenario is more common than you think. According to PropertyGuru.com.my, you have a 60% chance of getting rejected!
Read on to find out why:
#1 You’re debt-free, have no credit card or any other loans. This isn’t necessarily a good thing when it comes to loan applications.
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#2 You have an unsecured loan (e.g personal loan or overdraft). To the bank, this means you have an unstable financial situation.
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#3 You’ve recently been rejected from a home loan, which means that your reputation is already dented.
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#4 The developers or their project have been blacklisted by the bank. Why would the bank give money to a project they’ve blacklisted?
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#5 You haven’t done thorough research to understand the process of applying for a home loan.
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It’s important for you to get as much information as you can on home loan application before going to the bank. One of the most common mistakes potential homeowners make is to not find out their repayment capabilities.
If you’d like to find out about your home loan eligibility and save yourself from all the unnecessary back-and-forth. PropertyGuru can help, with PropertyGuru Home Loan Pre-Approval —the only bank-preferred loan solution in Malaysia!
It’s basically an online platform where you key in your information (full name, I.C., mobile number, and monthly income).
Once you’re done, you can know for sure how much home loan you can get from the bank!
PropertyGuru Home Loan Pre-Approval is the only bank-preferred loan solution that:
- Accurately calculates how much the bank can lend you, so you know the price range of properties to focus on
- Allows you to search for a house based on your eligible loan amount, making it more precise and so much easier than ever before
- Allows you to submit your Pre-Approved property to their bank partners and get better interest rates for your loan… you get to save more!
Easy-peasy, right? This will save you a LOT of time and disappointment when you get rejected. So before you rush to the bank to make that home loan application for your dream house, first make sure you get Pre-Approved! This platform is brought to you by PropertyGuru.
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