Getting a Housing Loan (Thread 3)

[yang21]

Thanks sis. Try ko na lang sa personal loan. 36mos. Term nga lang pinakamatagal.

[ayrise]

thanks sis for the reply! they are telling me na since i filled up the documents abroad then they need it to be consularized or if me branch yung bank abroad that branch should authenticate it ..

very troublesome ang experience ko with PNB / Allied Bank .. i didnt expect it to be that way .. sana maging okay na. i decided to go back to Manila and then finalized all the forms there .. if mayroon pang sale plane tickets .. mas mura pa yung tickets kaysa sa gagastusin ko just to get those documents consularized... 

Sis ayrise, ako yung binigyan SPA sa PSBank at nung nagawa yung SPA document, wala nang hiningi pa. I can transact already.

Not sure if yung consularized MRI eh yung nagpapakita na nagttrabaho sa isang bansa yung bibili? Kasi kung yun yun, hiningi siya as part of the requirements so pinagawa bago sila umuwi sa Pinas.

Kung ganyan nga eh mas mabuti try mo lumipat sa PSBank.. Although hindi ko sigurado kung pwede ka maka-apply ng wala ka dito.

[missroitee]

Question Which bank has the lowest interest rate so far when it comes to Housing Loan?

[sexydee]

Our 14th and last downpayment will be on November 29. However, our bank agent told us that we can avail the 7% interest rate until Sept 30 only. With this, we can only avail the rate if we pay the remaining downpayment which is still due on Sept., Oct. and Nov. pa. Meaning sasabay yung bank loan namin sa downpayment. Di namin carry! Huhu..

If ever ba na November na lang kami mag-avail, ganon ba kalaki ang difference ng interest rate? possible ba yung drastic change?

[missroitee]

Mga sis, I just reserved a unit at DMCI. It's payable in 29 months then the remaining 90% thru financing. My question is, when you decide ba to have it paid thru bank let's say for 15 years, but then, sinwerte ka at nagka-pera ng todo, you have the option to let them re-compute your loan and pay it straight at a lesser interest rate?

[red_one]

^yes sis pede

[fibia]

Mga sis, I just reserved a unit at DMCI. It's payable in 29 months then the remaining 90% thru financing. My question is, when you decide ba to have it paid thru bank let's say for 15 years, but then, sinwerte ka at nagka-pera ng todo, you have the option to let them re-compute your loan and pay it straight at a lesser interest rate?

Make sure you request waiver of prepayment penalty when u talk to your loan officer. Most banks impose a pretermination penalty for early payment or partial payment.

[Kady_14]

Confirm first with your bank. My inlaws finished their loan earlier than the agreed 10 years. Pero walang price adjustment kasi fixed and computed na daw yun.

[missroitee]

That's my dilemma. I have a friend who got his house from Lancaster Estates naman and he's due for turnover na ang unit sa kanya and he opt to go thru In-house Financing instead of Bank Financing. Reason being is sa bank daw, when you say 10 years, walang adjustment, 10 years ang computed rate mo. Sa In-house financing daw, when you say 10 years, but befor your anniversary (or during?) you have enough money to make a few months of early advance pays, they will recompute your loan adjusting also the interest rate. Downside lang ng in-house financing is mas mataas talaga ang rates nila compared to banks but the payment terms is more flexible daw.

Gusto ko nga sana sa Pag-Ibig e para I can take advantage of my contributions naman kasi more than 10 years straight na ako nagwo-work. However, DMCI doesn't assist to process thru Pag-ibig loan e.

[red_one]

^ sis depende sa bank yun. like for example sa  rcbc nag-inquire ako. kasi yung kinuha ng sibling ko is fixed for 1 yr muna yung interest rate, pero nacontrata sya na 10years to pay. according to rcbc pede daw mag-partial payment every anniversary date ng loan nila. without any additional charges. inform lang daw sila na magpa-partial payment para bago sila mag-re-compute ng another interest rate for the following year eh deducted na yung nabayad nila.
same thing sa psbank, no additional charge if mag-partial payment.
for pre-termination no idea pa, pero i think pede yun. baka may additional charges lang and depende pa rin sa bank. di kasi pare-pareho ang offer ng mga banks eh.

[missroitee]

Thanks sis. I think I better inquire sa banks as early as now although by 2015 pa ako makakapag-apply ng loan..

Question ulit:  Usually they advise na 6 months before e mag-apply ka na sa banks.. This is for DMCI I guess. Kaso kahit ba self-application to Pag-ibig hindi talaga sila tumatanggap or pwede basta ikaw ang magapply?

[goddessjem]

Im planning to get a housing loan tru Pag IBig or SSS. maapektuhan kaya yung loan ko kung may utang ako sa credit card na hindi ako maka fully paid? thanks mga sis..

[missroitee]

I thunk not since sa Pag-ibig naman. Meron ding ka-tie-up minsan ang mga developer na bank and kakilala sila sa loob as long as they see you financially capable now pwede ka din ma-approve

[red_one]

Im planning to get a housing loan tru Pag IBig or SSS. maapektuhan kaya yung loan ko kung may utang ako sa credit card na hindi ako maka fully paid? thanks mga sis..

if sa pag-ibig or SSS ka maglo-loan siguro di affected. pero pag sa bank,baka affecte. kasi yung friend ng officemate ko, may personal loan sa isang bank di nya sine-settle, so syempre lumalaki ng lumalaki yun because of interest. Tapos bumili sya ng house, nag-apply sya ng housing loan sa bank, nakita sa record nya yun, di sya na-approve. napilitan tuloy sya na mag-in-house.

[missroitee]

But I think, pwede naman ata na In-house financing ka muna until ma-approve yung sa Pag-ibig mo?  Pwede ba yun?

[red_one]

pede naman yun sis. and malamang yun din ang i-a-advise sayo ng developer. kaso most probably malaki interest rate nun sis.

[agape]

Given the choice, PAG-IBIG sana para di sayang membership kaso di allowed ng developer mabagal yata processing?

Gaano katagal? Kasi matagal naman babayaran ang DP like a few months or up to 2yrs.
So baka by that time naman na need na yung loan eh approved na ang pag-ibig loan?
Ok na rin kc pag-ibig mataas na ang loanable amount unlike before tapos minimal interest pa.

[missroitee]

@goddessjem - you can also try UCPB. As far as I know, there's no background check na sa kanila as long as you can submit your COE and ITR. Yun nga lang I think compared sa running interest rates ng ibang banks medyo mataas sila at 8%-10% per annum. But that's another option lang for you.

Or yun nga, go for in-house financing but with high interest rate while you are applying for your Pag-ibig Housing Loan until the latter gets approved. Better discuss this to your broker or sa sales office mismo ng project para mas clear ang usapan.

[elfie]

My agent is starting to submit my requirements para ma-process ang loan for my condo unit which will be turned over by 1Q 2014.

Crossing my fingers! Sana ma-approve. Single lang kasi ako, so income ko lang basis nila.

Share ko pala yung interest rates na napakita sa akin so far:
Metrobank - 6.88%, 5 years fixed
Security Bank - 6.75%, 5 years fixed

[j.adore]

6.88% for 5 years din sa PSBank and Robinsons ngayon. Anyone has an idea ano rate ng EastWest?

Yang 3 kasi ang alam ko mabababa din.