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First Time Buying A Home
New Home
Subsale
Finding your perfect home
Here’s some questions to ask when you’re on the property hunt:
- Where do I want to live?
- What do I want nearby?
- What neighbours do I want?
- How much monthly payment can I afford?
- Do I want to buy a new home or a secondary, aka subsale, home?
If you’re unsure, read our article to see the pros and cons of buying a new home and a subsale home.
Choosing & applying for a loan
When you’ve found the home loan you want, here’s what to do:
- Check your eligibility with our handy tool
- Prepare your NRIC, income statements and booking form
- Fill out the application loan or apply online with Home2u to enjoy instant approval*
- Choose your home insurance and answer the health questionnaire truthfully to avoid any issues with your home insurance
1 - 3 daysAccepting your loan
It can take the bank 1 to 3 days to return a decision on your application.
If you’ve applied with Maybank, you can track your application via the Maybank2u website. Alternatively, you can contact your assigned Maybank mortgage representative if you have any questions.
Once it’s been approved, you’ll get a Letter of Offer. You can sign it digitally or set up an appointment with the bank to sign it in person.
5 daysSigning with the lawyer
Now your appointed lawyer will prepare the loan documents for you to sign. You’ll need to head to their office to sign the papers once it is ready.
Lawyer fees are usually 3-5% of the property price. Remember to also set aside 1-4% for stamp duty. You can choose to pay these fees upfront or add it into your home financing. Check what other fees are included in your financing application with our handy calculator!
2 - 4 weeksGetting your health checked for home insurance
When applying for home insurance, you would have filled in a health questionnaire that asked about your daily habits, such as exercise and diet, and your medical history. Depending on the results, you might need to go for a check up to ensure you’re eligible for the home insurance you have chosen.
A clinic appointed by the insurance company will call you to set up an appointment.
Collecting your keys
When your new home is completed, the developer will contact you to collect your keys. Make sure to inspect your property; any defects found should be covered by the developer’s warranty.
You’ll need to:
- Check piping and electrical
- Check the walls and finishings
- Mark any defects to be fixed
Your new home is ready for you
You can choose to move in immediately or you can renovate the property to transform it into your dream home. If you need some funds for those renovations, check out our offerings below:
RM1.1 mil worth of home makeovers to be won!
Finance your home or your home renovation/decoration & stand to win RM1.1 mil worth of home makeovers
Enjoy Flexible Financing With Personal Loans
Enjoy instant approval and fixed interest rates as low as 6.5% per annum!
Enjoy 0% Instalment Plans With Credit Cards
Finance your home-related purchases with Maybank Credit Cards
Explore More Home Loan Products
Own your dream home today. Find the home loan product that fits your needs
Dec 22, 2023 
08 min read 
Choosing your perfect home
When you’re ready and hunting for the right property, you should ask yourself:
- Do I want a mature neighbourhood?
- When do I want to move in?
- How much renovation do I want to do?
- What condition of the house am I willing to buy?
Negotiating your price
When you’ve found the right place, make sure you know the market price for that neighbourhood. Then you can negotiate the price with the current homeowner.
Once you’ve agreed on a price, it’s time to sign the Sales Purchase Agreement and pay the down payment. You’ll have about 2 to 4 weeks to secure financing with a bank.
Choosing & applying for a loan
When you’ve found the home loan you want, here’s what to do:
- Check your eligibility with our handy tool
- Apply online with Home2u to enjoy instant approval or fill out a physical application form
- Prepare your NRIC, income statements and booking form
- Choose if you’d like to pay your financing fees upfront or add them into your financing (you can also split the fees between the two as well)
- Choose your home insurance and answer the health questionnaire truthfully to avoid any issues with your home insurance
1 - 3 daysAccepting your loan
It can take the bank 1 to 3 days to return a decision on your application.
If you’ve applied with Maybank, you can track your application via the Maybank2u website. Alternatively, you can contact your assigned Maybank mortgage representative if you have any questions.
Once it’s been approved, you’ll get a Letter of Offer. You can sign it digitally or set up an appointment with the bank to sign it in person.
5 daysSigning with the lawyer
Now your appointed lawyer will prepare the loan documents for you to sign. You’ll need to head to their office to sign the papers once it is ready.
Lawyer fees are usually 3-5% of the property price. Remember to also set aside 1-4% for stamp duty. You can choose to pay these fees upfront or add it into your home financing. Check what other fees are included in your financing application with our handy calculator!
2 - 4 weeksGetting your health checked
When applying for home insurance, you would have filled in a health questionnaire that asked about your daily habits, such as exercise and diet, and your medical history. Depending on the results, you might need to go for a check up.
A clinic appointed by the insurance company will call you to set up an appointment.
2 - 4 weeksGetting your home valued
Your bank may need to get your home professionally valued to ensure your financing is accurate. Your mortgage representative will engage one of the bank’s panel valuers, and they’ll call you to set up a time for the inspection.
They’ll prepare a written valuation report for the bank. You’ll also receive a copy if you pay for the valuation upfront.
Valuation fees can range from 0.1% - 0.3%, depending on the property’s value. You can choose to pay upfront or add it into your home financing.
2 - 4 weeksCollecting your keys
Depending on the agreement between you and the homeowner, you can collect your keys after the first disbursement or once all the funds have been disbursed.
Once you get your keys, you should:
- Inspect the property to make sure it’s in the condition you agreed to buy it in
- Transfer ownership of the utilities to your name
- Make sure the current homeowner has paid off all their outstanding bills related to the property
Your new home is ready for you
You can choose to move in immediately or you can renovate the property to transform it into your dream home. If you need some funds for those renovations, check out our offerings below:
Finance Your Dream Home Design
Get the financing you need to design your dream home with MYDECO Financing
Enjoy Flexible Financing With Personal Loans
Enjoy instant approval and fixed interest rates as low as 6.5% per annum!
Enjoy 0% Instalment Plans With Credit Cards
Finance your home-related purchases with Maybank Credit Cards
Explore More Home Loan Products
Own your dream home today. Find the home loan product that fits your needs
