Purchasing your first home or relocating to a new family home can be a big step. It involves planning and finances. Here are some tips to increase the chances of securing your mortgage loan! 🔎 Buyers of a first and second property can expect up to 90% Loan-to-Value (LTV) ratio (of a loan to the value of an asset purchased), and up to 70% for subsequent properties. Home Ownership Campaigns offer banks the flexibility to determine the LTV for subsequent mortgage loans. 💸 A low Debt Service Ratio (DSR) = better ability to pay current loan obligations and higher loan approval chances. Calculate your current DSR by dividing your monthly debts with your net income. Include the home instalment amount to gauge whether you can afford to purchase your new home. 👍 Good repayment behaviour reflects in your credit report. On the other hand, zero records or a long record of outstanding balances aren’t ideal. Pay your loans and credit card bills on time to build a healthy credit report. #RinggitMyWay #FinanceMadeSimple