Yes, I am unemployed, for years now, by choice. I have credit card by pledging FD. I have been living and renting on savings, but that's obviously not a long term solution and I turn to RSKU.
I have >250k in various asset (FC, FD, Unit trust) with 1 bank. But no income.
Google gemini (AI) says I can apply even if unemployed (not retiree) but all the requirements by LPHS or developer says need 'minimum' income. Can I really try? Will LPHS approve but developer reject when reviewing the documents (no salary/income). If they reject later, does it block me from applying with other developer within near future?
Technically I am unemployed, no income, I could(?) quality even type A (cheapest)?
Also about the bank loan, since I have the full asset if I liquidate, I was planning to get a flexi loan (that uses current account balance to offset interest, if I put full amount in current account, I pay 0% interest (Maybank MaxiHome Flexi Loan, CIMB Home Flexi), but it seemed like the bank would also want to 'get salary info' even if I have the asset?
Anyone get approval with asset/proof of asset alone?How do LPHS handle younger (before 55) unemployed applicant? Anyone know?
Should I just forget about buying as long as I don't intend to get employed/or start business? *sigh*
P.S.: Otherwise I should qualify, Malaysian, single, first time home buyer as well. Also have EPF account 2 with more than just deposit (10%) but not full property purchase price.
P.S.: I guess I could just apply, but I dont want a failure caused me to be banned for 2 years.