Refinance your existing mortgage with a new bank to secure better rates and terms.
Benefits:
✔ Lower interest rates for long-term savings.
✔ Better loan terms tailored to your needs.
✔ Lower monthly payments, improving cash flow.
✔ Save money over the loan tenure.
- How It Works:
Transfer your home loan to a bank offering lower interest rates.
Adjust loan terms to fit your financial goals.
Reduce monthly payments and total interest costs.
Home Loan Refinancing Process
Getting to Know You
Warm Welcome & Understanding Your Needs
We start with a friendly consultation to understand your homeownership goals. Discuss your financial situation, future plans, and property preferences. Explain the loan process in Malaysia, ensuring clarity and confidence
Gaining Clarity on Your Finances
Eligibility Assessment & Consultation
- Evaluate Your Financial Profile
- Assess income, employment status, and credit history.
- Determine eligibility based on Malaysia’s home loan regulations.
- Identify the best financing solutions (e.g., 90% + 5% loan packages).
Building Your Financial Vision
Loan Strategy & Financing Options
- Compare home loan offers from major Malaysian banks.
- Discuss MRTA vs. MLTA options for insurance coverage.
- Explore low deposit and government-assisted schemes (e.g., PR1MA, MyDeposit, HOC).
Loan Application & Documentation
Application Submission
- Complete the home loan application with expert guidance.
- Ensure compliance with Malaysian banking requirements.
Document Collection & Verification
- Submit required documents (e.g., EPF statements, salary slips, CCRIS report, SPA).
- Liaise with banks for credit assessment and verification.
Loan Processing & Approval
Approval & Offer Letter
- Work with Malaysian banks to secure the best interest rates.
- Obtain loan approval and review the Letter of Offer (LO).
Agreement & Legal Procedures
- Sign the loan agreement and complete the legal process.
- Engage with solicitors for SPA stamping and title transfer.
Property Purchase & Loan Disbursement
Finalizing the Property Purchase
- Ensure loan disbursement to the developer/seller.
- Handle Memorandum of Transfer (MOT) and legal fees.
Ownership Transition
- Complete registration with the Land Office in Malaysia.
- Receive confirmation of homeownership.
Property Purchase & Loan Disbursement
Loan Repayment & Management
- Set up auto-payment for easy monthly installment management.
- Provide support for PTPTN, CCRIS, or CTOS-related issues affecting credit scores.
Future Financial Planning
- Offer refinancing options when better rates are available.
- Provide guidance on reducing loan tenure and interest costs.
- Our Clients
Home Loan Refinancing Case Studies
En. Hakiem
Property Value: RM700,000
Existing Loan Balance: RM450,000
Objective: To reduce monthly repayments and save on interest costs.
Challenges
Had been paying off his home loan for several years but noticed that interest rates had dropped.
Wanted to reduce financial burden and free up cash flow for his family.
Unsure about the refinancing process and potential savings.Home Loan Refinancing Strategy
Evaluated his existing loan and identified an opportunity to refinance at a lower rate.
Secured a new home loan at 3.8%, down from his previous 4.55% interest rate.
Structured the loan to lower monthly installments by RM300, improving cash flow.
Calculated total savings of approximately RM90,000 in interest over the loan tenure.Outcome & Benefits
Lower monthly repayment, reducing financial stress.
Significant interest savings, freeing up funds for future needs.
Extra cash available to plan for his 8-year-old daughter's education fees.
Achieved financial flexibility while maintaining homeownership security.Conclusion
En. Hakiem successfully reduced his loan costs and improved his financial well-being, allowing him to invest in his family's future.
At CreditSecure, we are here to guide you every step of the way for a smooth, transparent, and stress-free home financing journey in Malaysia, we provide comprehensive Home Loan Refinancing Solutions.
