Getting a Housing Loan (Thread 3)

[victim]

let's continue this thread sisters of everyone who is dreaming to have their own house :-)


with psbank, processing fee is P3,500

[miksha]

mga katanungan para sa ofws na gusto kumuha nang housing loan:
1. do banks grant loans kahit na ofw ka na contractual? kase kapag ofw proof of employment ang binibigay hindi ba saka nakasaad kung magkano salary mo para alam ni bank kung may pagkukuhanan ka nang pera pambayad
2. matagal po ba ma-grant ang loan?
3. when granted na ang loan paano ang bigay? deposit to your account nang isang bagsakan or in batches or naka-check?

thank you!

[victim]

i'll answer question # 2

with ps bank, it took only 5 days. filed it on wed, got the info that my loan was approved on wed also.

[younis]

answer to #3.

depende:

1. if you get a H&L from a developer, the bank will pay the developer in full. hindi mo mahahawakan ang money.

2. if you file for a house construction loan -- the bank credits the money to your account portion by portion depending on the percentage of completion ng construction. for example, usually the bank requires 30%, 60%, 90%, meaning the bank will not release the money unless nakaka-30% na ang construction, next release naman dapat 60% and so on.

[miksha]

^you mean kailangan nakapagstart na ang construction before pa nila ibigay ang money?

[younis]

^initially they will release a portion of the amount. i forgot to mention for the scenario #2 I mentioned in my previous reply, the LOT will be the collateral, 70% or 80% of their appraised value of the LOT will be released to you, yan yung pa-umpisa mo ng construction, but of course you also have to have extra cash para sa construction, pwedeng hindi enough kasi yung ni-release na una. so that's the 0% stage of the construction. then 2nd release, you have to finish 30%, and so on.

[victim]

for question #3

yes tama yun, the bank will issue the check directly to the developer or the owner.

[meandmyhoney]

question regarding naman sa Metrohome ( metrobank))

may utang sa credit card hubby ng friend ko and nag aaply sila sametrohome ( thru company nila)) friend ko, since background check nalaman na may mga default payment hubby nya. tingin nyo sis ma aaprove kaya loan ng friend ko?? sabi na nga lang nya sa pagibig na lang nila iloan instead sa banko, sayang kasi since tie up company nila sa metrobank,.

[PrincessC]

for those who want to buy through a developer, ask your developer if may ka-tie up silang bank. when we got our unit, instant loan approval kami with ucpb kasi may tie-up sila ng developer.

[victim]

^^ ok lang naman may mga delayed payments, wag lang [textspeak!] super delinquent payer sa credit card.

[meandmyhoney]

^^ ok lang naman may mga delayed payments, wag lang [textspeak!] super delinquent payer sa credit card.

thank you sis, kung delinquent na?? no chance na?? as of now wala pang email from metro. wait na lang siya. thank u again

[chefron]

minsan some banks offer yung in house financing nila, i dont know the exact term pero merong ganun.

[victim]

^^ depende sis. there are lots of considerations especially the stability and the capacity to pay of the person. most of the time, [textspeak!] NDI or net disposable income ang importante. meaning, earnings minus all the expenses, that's the NDI.

[bleucharmz22]

mga sis, anong bank ang maire-recommend nyo for housing loan?

[victim]

ano po ba ang normal procedure sa bank loan, transfer ba muna lahat ng title then saka issue ng bank sa buyer [textspeak!] payment o pwede na muna [textspeak!] deed of sale?

[red_one]

need po naka-transfer muna sa buyer yung name ng title before po mag-issue ng payment ang bank

[victim]

^ thanks sis.

^^ sis, i would recommend ps bank, bpi ok din daw same with bdo.

[chefron]

Buyer should apply first for a housing loan, pag approve na, the bank will require the seller to transfer the title to the buyer. Ang hawak ni seller na assurance is yung bank approval.pag ok na title tsaka irerelease yung cheque ng bank under the name of the seller.

[swit_squiggle]

My home loan was booked friday. I was expecting to receive additional 35K minus the processing fee and other charges for the partial construction of the 30%. most of the proceeds kasi sa lot napunta.  naku!! 15K lang natanggap ko. Though may na alot na kaming money for the partial construction. magkakasya kaya ang 200k for the accomplishment of the 30% ng house?

it's a two story house around 160 sq. m. 90 ang baba at 60 naman ang taas, may open ceiling kasi.

Anybody who knows kung ano ang required structure for the 30% sa BDO? I requested the document pero ang ibinigay sa akin is hindi ko maintindihan. for the 30% may nakalagay na ceiling, doors, roofing. parang buong bahay na yung gusto nilang makita for the next releasing of the loan a.

[jlouise]

Saan po mas magandang mag- apply for a house loan: sa bangko o sa Pag- ibig? [textspeak!]- ano ang mga pros and cons sa magkabilang options?