Many Malaysians tend to find themselves clueless when purchasing their first home. This is where Madam Loan comes in.
The brand new chatbot is the result of Mah Sing Group Berhad and RinggitPlus’ collaboration. It’s an artificial-intelligence-enabled educational platform that facilitates home loan applications and answer home loan related enquiries.
Some of the difficulties often faced by home buyers include:
- Unfamiliarity/ no knowledge about the ins and outs of mortgages and home financing
- Unclear on which mortgages suit their needs and income level
- Unclear about credit standing and loan eligibility
- Chances of securing a loan
- Unsure on what properties to consider based on current income level
- Applying to multiple banks and visiting different physical locations
No doubt Madam Loan will be useful to first time home buyers with little to no experience, those wanting to make well-informed financing and investment decisions, and financially constrained buyers with limited cash flow ability.
Known as the 5 pillars, here are what Madam Loan has to offer:
1. Home Loan Application – Instead of filling multiple forms, you can now instantly apply up to 4 bank mortgages once you key in your personal particulars, net income, monthly commitments, and property particulars.
2. How Much Loan You Can Qualify – Using the instant debt-service-ratio (DSR) calculation, the platform can give you property recommendation based on your borrowing amount.
3. Government Assistance – Those with difficulties getting financing will receive options on a variety of suitable government assisted home ownership schemes to consider.
4. Property Recommendation – Based on your budget, preferred location, and property type, you can find a suitable home from Mah Sing’s 50 projects nationwide. (Psst, we’ve already listed 5 beautiful homes here.)
5. Home Loan 101 – Of course, if you have further loan questions, mortgage options, financing insurance, additional cost and more, Madam Loan will be of assistance.
Visit Madam Loan’s website here.