Alex Lee asked 9 years ago
Hi, KC Lau,
I would like to ask about the income statement question.
Right now, I am working as a software engineer in a IT company with salary of 3.5k. In addition, I also having loan of 200k for the AMANAH SAHAM BUMIPUTERA for 25 years(I am bumiputera, but not Malay) with every month loan of RM1.2K. Right now, I had pay the loan for more than 3 years, and my ASB account have at least RM42K cash.
At the mean time, I had joint name with my brother for a palm oil plantation in Sabah for around 46 acres. And it monthly produce around at least 6k income. But the problem is since I did not work on the plantation, and the money income is direct transfer to my brother bank account, and I did not even receive single cent.
What I really want to ask is does the plantation income strengthen my income statement even though the money did not go into my account. What I mean is does the bank will seem this as a “income” proof for me and strengthen my financial income?
By the way, I would like to know how much cost of a property loan i can afford right now in my situation right now.
Thank you,
Best Regards
KCLau Staff answered 9 years ago
Hi Alex,
Banks only underwrite based on credible documents.
In your case, I don’t think you will be able to qualify your palm oil plantation income.
The loan for ASB is also counted in the DSR calculation when banks is considering lending out money to you.