Affin Home Build

Buying a residential land or building your own dream house, Home Build has got you covered for up to RM5 million!

Affin Home Build
Tenure
Up to 35 years
Interest Rate
from 3.81% p.a.
Loan type
Term loan
Interest Type
Floating interest rate
Lock In Period
5 years
Margin of finance
up to 85%

Interest Rate

The interest paid based on the home loan amount borrowed

You borrowEstimated Interest Rate
RM100,000 - RM5,000,0003.81% p.a.
*Effective interest rate will be determined by Affin Bank upon approval.

Requirements

Minimum Annual Income
RM24,000
Minimum Age
  • 18 to 70 years old

Fees & Charges

Late Penalty Fee
1% p.a. p.a. on outstanding amount
Processing Fee
Early Settlement Fee
3% to 5% within 5-year retention period
Redemption Letter Fee
RM50 per request
Letter for EPF Withdrawal Fee
RM20 per request
Insurance Types
  • MRTA
  • CLTA
  • Fire Insurance

More Information

What is Affin Home Build?

Affin Home Build is a conventional mortgage loan product that offers financing up to 90% of the property value (inclusive of MRTA and entry cost) for a contract period of up to 35 years.

The amount you can borrow is between RM100,000 to RM5,000,000 and your property will be securitized against the borrowing throughout the tenor.

What type of property can I finance with this mortgage?

Affin Bank can offer up to 70% margin of financing for completed property, while 85% for property under construction. If you throw in another 5%, the bank can pay for your moving costs (loan agreement, stamp duty, legal and disbursement fee) and protect you under MRTA.

Do I get to redraw excess money paid into this account?

No, as it is not part of this mortgage plan.

Can I pay off my mortgage early?

You can make full settlement of your mortgage before its maturity date, provided you have waited 5 years from the date of full disbursement. The bank will penalize you for any settlement done within the retention period.

What is the major risk?

The interest rate on this home loan is floating and is pegged to Base Rate. You may frown upon the changes in your monthly instalment amount should the interest rate increases. On the contrary, you could be saving a lot when it goes down.

What documents do I need to prepare?

The main documents you need to submit is Affin Home Build application form, a copy of your NRIC, Sales & Purchase Agreement/Booking receipt from developer, Valuation report (for completed property) and Copy of the Title Deed. The supporting documents are as follows:

For fixed income earners:

  • Last 3-months salary slips
  • Latest EA form or Borang B supported by tax payment receipt
  • Latest pension statement (for pensioners)
  • Latest 6-months commission statement (for commission earners)
  • Latest EPF statement
  • Latest 3-months bank account statement
  • Letter from Employer

For self-employed:

  • Latest Borang B supported by tax payment receipt
  • Latest 6-months business account statement
  • Latest 6-months personal account statement
  • Latest Profit & Loss account