If owning a dream house is your new year’s resolution, then you are in the right place and time to get started with your financing need.
What can I get from AIA Fixed Rate Home Loan Package 3?
As a fixed interest home loan, you know that your monthly installment amount is constant throughout the duration of the loan. You don't have to worry about overnight policy rate (OPR) or base rate changes with AIA home loan.
Much like its predecessors, Package 3 combines some features from Package 1 and Package 2 and offers a competitive interest rate. Plus, AIA also absorbs all costs associated to moving into your new house - saving you the cost of obtaining the loan as well as your monthly commitment!
The minimum property value to qualify for this fixed rate home loan is RM200,000, and AIA can provide up to 90% margin of financing for the purchase of new house, whereas up to 80% for refinancing purpose.
What is my monthly commitment?
Every month you are required to pay back the loan to AIA in equal monthly instalments until the end of your chosen tenure. It is important that you are able to meet your monthly installment payment on time and in full, otherwise you will incur unnecessary penalty charges.
Schedule an appointment with AIA should you face difficulty in managing your commitment.
Can I apply for this loan if I’m not an AIA policyholder?
You can, but with one condition. You are required to purchase AIA Group Mortgage Reducing Term Assurance or AIA Life Policy to secure the loan. If you have the latter, the coverage must not be less than the loan amount.
What documents should I prepare for this loan application?
If you are an employee earning a salary
- NRIC photocopy
- Latest 3-month salary slip
- Letter of Employment
- Sales & Purchase Agreement/ Booking receipt from developer
- Valuation report
If you are self-employed
- NRIC photocopy
- Latest 3-month salary slip
- Latest 6-month bank statement
- From 24 & 49
- Sales & Purchase Agreement/ Booking receipt from developer
- Valuation report
- Copy of the Title Deed
