Wisen up about home loans

Use these tools to breeze through the home loan process

Just when you thought the search for your dream home is finally over, the real work, in fact, has just only begun. Now, you have to sift through all the information to find the best home loan package to pay for your new house-an extremely daunting task for a buyer, especially considering that there are over 450 home loan packages offered by 26 different financial institutions.

Why should you bother to make the effort in looking through all the home loan packages? For starters, a home loan is the biggest financial commitment most people will make in their lifetime. Home loans will affect an individual long after they are taken-it is a constant burden that will consume a portion of your monthly income for a period up to a few decades. Choosing a package ill-suited to your situation can be a big mistake that will cost you many thousands of ringgit in the long run.

Also, depending on whether you are a property investor, an expatriate, an entrepreneur, a high net-worth individual or simply a first-time house buyer, the offer you choose should be very different. It is not as simple as simply getting the loan with the lowest interest rate-you have to consider many other factors that will complement your financial needs and situation throughout the loan tenure.

But how exactly do you look for information on all those different packages? Before you pull out those leaflets, consult those banks or visit those websites, know that your problems and frustrations have not gone unnoticed.

Recognizing the need for an accessible and affordable way for home buyers to find information on local home loans, Fiscal WISE Sdn Bhd has developed their Home Loan Calculators-a series of convenient web-based financial tools designed to optimize your home loan, available to the general public (at www.fiscal-wise.com.my) for absolutely free!

Here is a walkthrough of all the powerful tools on WISE’s site-any one of these can either help you avoid lots of trouble or save thousands of ringgit-or both.

Just fill in the details and click Search….

…to find the 10 best packages for you!

Home Loans Made Easy-Top 10 Home Loan Packages
Of all the Home Loan Calculators developed by WISE, the most attractive to loan-seekers has to be the WISE Loan Search Wizard. This application is an online-based search engine that holds all the essential information on all the loan packages offered by all the banks in Malaysia, enabling you to find your perfect package at the click of a button.

Extremely easy to use, the powerful WISE Loan Search Wizard will provide you with all the information you need in just a few moments. After inputting the search criteria (Do you want loans with the lowest interest? Lowest fixed rate or the longest Loan Tenure?) and loan details ( such as preferred loan tenure, property value), the WISE Loan Search Wizard will filter through all the packages available and present the top ten packages best suited to your needs in a neat list.

The tool goes further by breaking down the information submitted and calculating it to present you with the details related to all the presented home loans such as the monthly repayment expected, the average interest rate and total interest. Just click on “More Details” to find the helpful information. For those who have located what they want, the tool also allows you to apply online immediately.

Refinancing in a click
Even if you already have an existing home loan, you may be able to find help from WISE in the form of the Refinance Calculator. Why refinance? Refinancing a mortgage does cost money, but in many cases, refinancing can be a wise option that will save thousands of ringgit in the end. Other than lowering your interest rate or monthly repayments, refinancing a loan can also free the money trapped in your home equity for other uses, such as investments and paying off other debts that have a higher interest.

Despite the usefulness of refinancing, it’s difficult for many people to know when it is a good time to refinance. This is where this tool comes in-the WISE Refinance Calculator will provide you with all the refinancing options available and even calculate the amount saved with each option, giving you a good idea whether to refinance that home loan you’re having. The process of refinancing is made worry-free as the calculator takes care of all those pesky details for you.

Cost of Property Purchase Calculator–know the total amount you have to pay

Making sense of all those numbers
More often than not, a buyer has to pay for various fees to purchase a property, adding an unanticipated amount to the overall cost. To avoid any surprises, use the Cost of Property Purchase and the Purchase and Loan Agreement Calculator tool to calculate all the legal fees pertaining to loan agreement, such as the scale legal fees, stamp duties, caveat, disbursement fees, search, travelling expenses, and others.

Can you afford that property or that loan? If you have ever asked yourself that question, another tool that can help you is the Max Loan Estimator. Just input details such as your monthly income, age, interest rate and other loans, and the tool will immediately estimate the maximum amount you can borrow as well as the maximum property price you can purchase.

For those who want to keep track of their loans, the Loan Repayment Calculator and the Loan Balance Calculator will help you find out the monthly repayments you have to make and your outstanding loan balance respectively.

What now?
Other than the online financial tools, the Fiscal Wise website also offers other services such as home loan consultation, property listing and loan guide, providing a comprehensive package for you to find your dream home at the lowest cost. Find the Home Loan Calculators or further information on home loans by logging in to www.fiscal-wise.com.my.

Fiscal WISE Sdn. Bhd. is a pioneer in the Financial Services & Advisory business. Over the last 4 years it has developed a strong reputation of being a truly independent, professional, innovative and effective player in the market. Fiscal WISE’s proven system and method enables its consultants to write 3 times more business than the market average and is a model for future financial service providers. The vision of WISE is to emerge as a one-stop professional financial service hub entrusted by customers, agents and partners to create value-add in the financial services market.