Houses bought through Pag-Ibig Financing - Share your experiences

[simplepink]

Hello mga sis!

Don't know kung tama itong thread na napuntahan ko. Wanna ask kung meron ba sa inyo na separated sa spouse na nakapag-apply for housing loan?

Im separated for almost 5 years. Wala na kami communication ni hubby. Ngayon, gusto ko sana mag-apply ng housing loan thru Pagibig kaso sinasabi ng mga agent na nakakausap ko need daw ng signature ng spouse. A

Sana may makasagot sa'kin. Thanks.

[superpinya]

kakainis na autocorrect. ngayon ko lang narealize.

sisses, in case meron same case sainyo, matagal ba ago maapprove loan?*

same query mako sayo sis! planning din mako to loan for house construction. waiting pa din ako para ma put yung title under my name pero from what i have heard, dapat under your name before mo apply for loan.

sisses, in case moron same case sainyo, material ba ago maapprove loan?

[loveann]

Hi Mga Sis,

I'm planning to purchase a lot near in our place. Based on loan calculator, i was eligible naman however the TCP value is 450K but I'm planning to loan 1M, is it possible?
and buti na lang nakita ko na dapat pala un title ng property nasa name na nmin before releasing ng check 
Thank you

[bluish_mommy]

^normally sis, 80% lang ng assessed value ng property ang ipapa-loan sa iyo, hindi pwedeng sobra pa dun, yung 20% isho-shoulder mo na yan, ang tawag dyan Equity. ngayon since lot ang gusto mo bilhin, you may opt to file a loan for the purchase of lot and house construction, pwede ito alam ko.

[Maxim04]

hi mga sis! I want to share my recent construction loan from pag - ibig.

Our house and lot was under my mom's name. Then we asked to demolish our old house, completely demolish, and build a new one. the new house is under my name na, we had to make few paper works with LRA (Land Registration Authority) , but you can check your area sometimes you need Bureau of Land.

initially , we have to fix the paper works. certified thru copies. then ayusin ang requirement ni pag ibig.
we have to get an architect , and he also gave us BoM (building materials) as well as specifications. Blue printing follows pag OK na kayo sa design at sa budget.

then saka mag apply sa pag ibig. meron silang requirements, kasabay non meron din ang munisipyong ipapaacomplish sa inyo.

the pag ibig process took us 1-2 months before they gave our wanted price. 1.4 ang loan namin and it was approved In 5 days. I aassess nila lahat ng papers kung accurate ba ang specs vs BOM vs actual price ng mga bagay. They also have their architects and engineers that's why they know kung "overpriced" yung sinubmit na BOM or hindi. Minsan daw kasi, isusubmit na loan eh 2M tapos based naman sa specifications ng materyales ng bahay eh 1.6M lang, things like that.

they also give the money staggered. bago nila release ang 30% ng pera, kailangan may 20% na nagawa na sa bahay. meron talaga sila pinapadalang tao na nag iinspect.

PM niyo lang ako for further infos, I'm happy to help. 

[loveann]

^normally sis, 80% lang ng assessed value ng property ang ipapa-loan sa iyo, hindi pwedeng sobra pa dun, yung 20% isho-shoulder mo na yan, ang tawag dyan Equity. ngayon since lot ang gusto mo bilhin, you may opt to file a loan for the purchase of lot and house construction, pwede ito alam ko.

hi sis, thank you! so our plan is transfer the title to our name then after nun dun na lang kami magloan sa pagibig.

[lischan]

sa mga naka try mag assume balance..

ang inoffer ni pag-ibig, is to literally assume the balance, panghahawakan mo is SPA lang na template ni pag-ibig. ang nabasa ko kasi dito is parang si buyer nag apply lang loan sa pag-ibig tapos assume balance.

Ang inexplain sa amin kanina was hinde na need mag apply ng loan si buyer, magbabayad nalang talaga siya sa amortization.

Does anyone know what the risks are? Di ko kasi gets hanggang sa dulo ano mangyari, hindi man maayos explanation ni Pag-Ibig kasi, TIA

[bluish_mommy]

^I availed it once. Pero I preferred na itransfer sa pangalan ko instead ang title ng property para in the future walang problema. Ayun naibenta ko na yung property after 6yrs, may nag assume din ng balance. ;-)

[lischan]

^so parang inapply mo talaga ang loan sis? At na clear si seller sa loan din nya sa pag-ibig, right?

pag ganun, meaning, bayaran na din sa mga capital gains and all? and inassess ni pag-ibig ulit ang property na yun before releasing the loan sayo, right?

[bluish_mommy]

^yes ganun na nga.

[lischan]

^ aw okay sis, may I know how long yung process ng approval?

[lischan]

Nalilito na ako sa mga nababasa ko all over the net, sa pag tanong sa Pag-Ibig/paralegal, hirap din pala mag over read at over tanong, over information din hehe.

I'm not sure though if I was able to read and was told about ALL the fees and taxes that needs to be paid sa pag purchase ng property. Please advise if may kulang or mali po, parang na overwhelm ako sa fees:

a. Pag-Ibig Loan Fees: 3,000
b. Another Pag-Ibig Fee, I forgot for what: 2,000
c. Insurance: 10,000 ()
d. Capital Gains Tax: 6% of Selling Price or Market Value
e. Documentary Stamps: 1.5% of Selling Price or Market Value
f. Title Transfer Fee: 0.5%
g. Service Fee at RD: (how much?)
h. Tax Clearance Fee at RD: (how much?)
i. Title Registration Fee at RD: (how much?)
j. Annotation of Title Fee at RD: (how much?)
k. Notarial Fee: 0.10-0.15% of Selling Price (standard ba 'to? or depends per lawyer?)

TIA!

[bluish_mommy]

^ aw okay sis, may I know how long yung process ng approval?

Sandali lang approval in less than a month, ang matagal yung processing ng title gang sa loan take out, may take up to 4-5months.

[lischan]

^Thanks sis

Hingi nalang din ako ng advise. I still need to pay the buyer cash kasi. What do you normally do in cases like this? When are buyers supposed to pay the seller? Normally, may downpayment ba ibigay kay seller once mag apply na si buyer ng loan sa pag-ibig? If yes, magkano usually? If ma deny yung application ni buyer, normally, ibalik ba dapat ni seller kay buyer yung pera?

Also, once loan is approved, should the buyer pay na in full? Saka i transfer ang titles, etc? Will pag-ibig assist with this? I forgot to ask pag-ibig kasi about this.

Sorry sa mga tanong, I know most of them are case to case basis, depende sa usapan ni seller at buyer. However, I just wanted to know what is the norm. I don't want to come out as too demanding and one-sided kung hinde naman talaga pala normal practice yung mga request ko.

TIA!

[bluish_mommy]

^the transaction between you and the seller should start of course from the earnest money to show the seller that you are a serious buyer, in parallel with this naka file na dapat ang pagibig application mo, once the letter of guarantee is released by Pagibig, you can calculate from there kung magkano ang balance mo pa sa seller. All of these should be put into writing, Contract to Sell which contains all the details as to when such cash and conditions will be executed.

[lischan]

^ Okay, noted, thank you sis

[danda]

mga sis, question. Ibebenta kasi naming ang H&L na niloan naming sa Pag-Ibig. Ang agreement is buyer will pay the current balance na. Bukod sa current balance, may babayaran pa ba?

[mamelta]

Ask ko lang po if may idea kayo.  Plan ko kasi mag loan. Pwede po ba yun na ako lang Ang applicant pero kasama yun income ni husband sa basis ng income? If dalawa naman po kami applicant isa lang po ba yun mri nun? Worry ko kasi diagnosed po c hubby ng cancer baka Di po kami maapprove pag siya ang pinag apply ko.

[bluish_mommy]

^ok lang ikaw mag-file ng loan, magiging co-borrower lang si husband.

[mija0126]

hello... ask ko lang po pwede ba ko magloan ng pagibig house construction kung ang nabili kong lupa is 200 k lang po? ang pagkakakaalam ko po kasi ay magiging collateralang  lupa. ibig sabihin po ba noon eh maliit lang yung ipapahiram din sakin ni pag ibig kase mura yung lupa?

plan ko kase magpatayo na lang ng bahay kesa kumuha ng rent to own house baka mas makamura ako. pag inappraise po kase ng pag-ibig ang lupa na nakuha ko eh talagang mababa dahil walan siyang right of way... ty!