{"id":3058,"date":"2021-05-29T23:55:16","date_gmt":"2021-05-29T15:55:16","guid":{"rendered":"https:\/\/yhalaw.com.my\/?p=3058"},"modified":"2022-10-31T09:35:36","modified_gmt":"2022-10-31T01:35:36","slug":"loan-application-debt-service-ratio-dsr-credit-trust","status":"publish","type":"post","link":"https:\/\/yhalaw.com.my\/my\/loan-application-debt-service-ratio-dsr-credit-trust\/","title":{"rendered":"LOAN APPLICATION \u2013 DEBT SERVICE RATIO (DSR) \u2013 CREDIT TRUST"},"content":{"rendered":"<p><strong>How do I improve my chances of getting housing loan from the banks?<\/strong><\/p>\n<p>There are many factors bank will consider when giving a loan. Here are the steps:<\/p>\n<ol>\n<li>\u00a0Start building credit trust by applying for credit card or car loan.<\/li>\n<li>Ensure that your credit card bills, car loan etc are paid on time.<\/li>\n<li>Reduce your debt service ratio (DSR) rating based on this formula:<img decoding=\"async\" loading=\"lazy\" class=\"aligncenter  wp-image-3067\" src=\"https:\/\/yhalaw.com.my\/wp-content\/uploads\/2021\/05\/dsrformula-300x48.png\" alt=\"\" width=\"476\" height=\"76\" srcset=\"https:\/\/yhalaw.com.my\/wp-content\/uploads\/2021\/05\/dsrformula-300x48.png 300w, https:\/\/yhalaw.com.my\/wp-content\/uploads\/2021\/05\/dsrformula-16x3.png 16w, https:\/\/yhalaw.com.my\/wp-content\/uploads\/2021\/05\/dsrformula.png 364w\" sizes=\"(max-width: 476px) 100vw, 476px\" \/><\/li>\n<li>Reduce your DSR to 80 or below by either reducing monthly debt payments or increase your net income. Depending on the banks you are applying to, some banks only accept DSR 50 or below.<\/li>\n<li>Monthly debt payments can be reduced by :\n<ul>\n<li>Negotiating with your creditors for alternative payment plans for lesser month payment;<\/li>\n<li>Refinancing of property to extend the tenure of repayment;<\/li>\n<li>Consolidate your outstanding debt; or<\/li>\n<li>Balance transfer of your credit card debt.<\/li>\n<\/ul>\n<\/li>\n<li>Increase your net income\n<ul>\n<li>Part time job; or<\/li>\n<li>Rental of your unoccupied premises.<\/li>\n<\/ul>\n<\/li>\n<\/ol>\n<p>Every bank maintains its own distinctive policy for loan approval. If you have any difficulty in applying for housing loan or needing help to apply for loan, please do not hesitate to log on to our website by clicking here at <a href=\"https:\/\/yhalaw.com.my\/my\/secure-loan-application\/\" target=\"_blank\" rel=\"noopener noreferrer\">YHA Law &#8211; Loan Application<\/a>.<\/p>\n<p>Send us your details and we will get our professional mortgage specialist to understand your needs and apply loan for you.<\/p>","protected":false},"excerpt":{"rendered":"<p>How do I improve my chances of getting housing loan from the banks?<\/p>","protected":false},"author":1,"featured_media":3060,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[18],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v19.4 (Yoast SEO v19.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>LOAN APPLICATION \u2013 DEBT SERVICE RATIO (DSR) \u2013 CREDIT TRUST<\/title>\n<meta name=\"description\" content=\"Improve your chance of getting a loan by applying through our law firm.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/yhalaw.com.my\/my\/loan-application-debt-service-ratio-dsr-credit-trust\/\" \/>\n<meta property=\"og:locale\" content=\"ms_MY\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LOAN APPLICATION \u2013 DEBT SERVICE RATIO (DSR) \u2013 CREDIT TRUST\" \/>\n<meta property=\"og:description\" content=\"Improve your chance of getting a loan by applying through our law firm.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/yhalaw.com.my\/my\/loan-application-debt-service-ratio-dsr-credit-trust\/\" \/>\n<meta property=\"og:site_name\" content=\"Yew Huoi, How &amp; 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