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When do I actually need to start paying back PTPTN?
Just grad last year, still finding stable job. PTPTN letter came already and I'm blur. Whe…
1,315 views
Housing loan rejected by 2 banks, how to improve chances?
Applied home loan, 2 banks already reject. I have a car loan, PTPTN, and one credit card. Gaji RM5200. Feel so down. What actually affects the approval and how to fix before I apply again?
Anonymous asker ·Asked on 17 hours ago ·1,105 views ·4 answers
Best Answer
Anonymous contributor Beginner First-hand experience
Went from rejected to approved, here is what I fixed. First, pull your CCRIS and CTOS report (CCRIS free from BNM). Check for any late payments, even a small late credit card or PTPTN arrear tanks your score. I had one PTPTN default I forgot about, settled it and restructured. Second, your DSR (debt service ratio) is likely too high, all your commitments (car loan, PTPTN, card) divided by income cannot exceed roughly 60-70%. Pay down or settle the car loan / card balance to lower your DSR. Third, dont apply to many banks at once, too many enquiries look desperate. Use a mortgage broker or the bank mortgage officer to pre-assess before formal submission. I also made sure my 3-6 months bank statements showed stable savings, not living paycheck to paycheck. After clearing my card and settling PTPTN, third bank approved 90% margin.
Kakak HR Siti Beginner First-hand experience 12 years in HR liao, banyak sudah tengok resignation drama and gaji negotiation.
If your income alone is borderline, consider a joint loan with spouse or sibling to combine income and lower the DSR. I bought with my wife combined income and approval was smooth. Just make sure both parties understand the commitment because both names are liable.
Anonymous contributor Beginner First-hand experience
Get a good mortgage broker/banker who knows which banks are lenient with your profile. Different banks have different appetite, some love govt servant, some prefer commission earners, some strict on DSR. A broker submits to the right bank and packages your docs properly. Free service usually, they earn from the bank. Saved me a lot of rejection heartache.
Auntie Chan Wet Market Beginner First-hand experience Sell vegetable at pasar 25 years, I tell you straight which biz idea will mati fast.
PTPTN default is a silent killer for loans, so many people dunno. If you ever missed payments it flags in CCRIS. Sort out a PTPTN repayment plan and let it show consistent payment for a few months before reapplying. Banks like to see you honour existing debts. Also if you can, reduce your credit card limit, banks calculate 5% of your total card LIMIT as commitment even if you dont use it.
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