Getting a Housing Loan (Thread 3)

[GABJUMZ]

@qtlouise29: sis alam ko yearly eh meron kang option to make a lumpsum payment and applicable talaga un sa principal loan amount.

Yong interest on the 6th year onwards will be based on the prevailing interest rate. Usually eh kapag mataas and inflation rate eh mababa ang interest rate and vice versa. On the 6th yr onwards yearly eh mgkakaron ng recomputation ng interest.

[qtlouise29]

ayown! thanks sis GABJUMZ!

[kiz_me1109]

Hello. Sorry I'm new to this. =) Do we need to attend a seminar pa po if we want to apply for a housing loan?

[babyseth]

^parang wala ng seminar ngayon.  You can go directly sa housing loan processing department if you have questions, kasi based from our experience, mas sila ang nageexplain ng tamang process at requirements sa iaapply mong loan, dun sa inquiry section kasi, minsan hindi accurate     They will accommodate naman kahit hindi kumpleto ang requirements na dala mo and they will give you the checklist depending on your housing loan application.

[jaiho]

hi. ask ko lang sa mga nag housing loan sa psbank. mataas po ba ang rebate kapag nagbayad ka in advance? or pag sobra yung binayad nyo? tia

[shinta]

ask ko lang mga sis, is age a factor in getting a housing loan? balak kasi namin kumuha pero ipapangalan muna namin sa daddy ko, because we don't have the necessary documents. but he's retiring 2-3 from years now. disadvantage ba yun? kasi baka ma-question yung capacity niya to pay the loan if he'll be retiring soon. balak kasi namin 5 years or 10 years term.

thanks

[whitebishop]

if he will be 65 in 2-3 years hindi na sya tatanggapin as loaner. pero kung 60 pa lang 5 years is good. basta the principal borrower should be 65 or less by the maturity of the loan

[shinta]

^he's 58 now. naku baka nga ma-question siya. how about sa pag-ibig kaya? ayaw sana namin ng pag-ibig kasi sobrang tagal, pero kung yun lang ang pwede, no choice na din.

[whitebishop]

^same lang sa pag-ibig yung ibang banks nga yata till 60 years old lang ang ini aallow. kung sa pag-ibig pwede pa yun na loan nyo for 7 years provided na yung sweldo ng principal borrower e sufficient to pay the loaned amount for 7 years.

[shinta]

^ thanks sis. ask ko ulit daddy ko. nung nagtanong kasi siya sa HR nila, sabi pwede pa daw mag-housing loan. I didn't know na may mga condition pa palang ganun.

[kiz_me1109]

^parang wala ng seminar ngayon.  You can go directly sa housing loan processing department if you have questions, kasi based from our experience, mas sila ang nageexplain ng tamang process at requirements sa iaapply mong loan, dun sa inquiry section kasi, minsan hindi accurate     They will accommodate naman kahit hindi kumpleto ang requirements na dala mo and they will give you the checklist depending on your housing loan application.

Thank you sis. =)

[sakuramie]

I am still confused kung san namin iaapply our housing loan. Meron kasi kaming gustong ipurchase na house and lot, si developer katie-up nya si psbank. Pero may option din naman na pwedeng ipasok sa PAGIBIG..what do you think sissies? go for bank or sa PAGIBIG?

[whitebishop]

i'd go for which has the best rate.

[robinemz]

join and sharing na rin..
 
we'll be completing the down payment for our lot at cavite by next month kaya searching for best bank offers na rin ako ngayon. while searching the net, i've found out na may feb-may promo pala si bdo ngayon. 5.55% interest fixed for the first year plus may free telepad pa. cool! tamang-tama ang timing para samin ang promo.

[hunny_ally]

hi. ask ko lang sa mga nag housing loan sa psbank. mataas po ba ang rebate kapag nagbayad ka in advance? or pag sobra yung binayad nyo? tia

are you referring to their Prime Rebate? Mababa lang siya. Here are sample computations from their brochure


for advance payment:

Monthly Amort: Php 88,381.66
Rebate Rate: 9%
Due Date: 10th of every month
Advance Payment: 5 days before due
Rebate (savings): Php 110.48 (computed Php 88,361.66 x 9% x 5 days / 360)


for excess payment:
Monthly Amort: Php 88,381.66
Rebate Rate: 9%\
Actual Payment: PHp 150,000
Excess: Php 61,618.34
Rebate (savings): Php 462.14 (computed Php 61,618.34 x 9% x 30 days / 360)

and from what i understood from our loan officer, you can only use it if you have accumulated enough rebate that will cover 1 month amortization or to your last amortization.

imo, it is still better if you have extra money, make annual big payments & ask the bank to credit this against your principal. then ask them if you can have a re-computation of your loan so that monthly amortization is lower and/or loan term is shorter.

[Princess_Chill]

join and sharing na rin..
 
we'll be completing the down payment for our lot at cavite by next month kaya searching for best bank offers na rin ako ngayon. while searching the net, i've found out na may feb-may promo pala si bdo ngayon. 5.55% interest fixed for the first year plus may free telepad pa. cool! tamang-tama ang timing para samin ang promo.

sis sa cousin ko 7% fixed for 3 years and 7.5% fixed for 5 years...
kung 5.5% bdo 1st year lang hindi ba medyo malaki iyon?

[barbieavril]

mga sisses, questions here! may nakita kasi kami townhouse na for sale. bale luma na sya at need ng seller ibenta ng rush for a discounted price.  Pumayag sila na benta sa amin thru bank loan, pero mag down kami ng 20% then kami magbabayad lahat ng processing fee sa pag-transfer ng title. 

Now my questions are:

1.  If ma-approve kami, let's say 80% of the assessed value nung property, kanino ibibigay yung check, sa seller ba o sa amin?
2. If ma-approve yung loan, bago ba mag-loan take out, kelangan naka-transfer na sa name ko yung land title?  Kasi sa research ko, it may take a month or two bago malipat sa pangalan ko yung title.  So ibig ba sabihin, ganon din katagal bago makuha yung loaned amount?

Medyo rush kasi, need ng seller yung pera for medical expenses.  Sayang naman kung di namin makuha, good catch na kasi yung property.

Thanks!

[GABJUMZ]

sis sa cousin ko 7% fixed for 3 years and 7.5% fixed for 5 years...
kung 5.5% bdo 1st year lang hindi ba medyo malaki iyon?

Sis better pag aralan mo mabuti. Ang maganda kasi kapag nakafixed interest ka eh alam mo kung magkano ang exact amount ng amortization at interest na binabayaran mo.

Ang hirap sa variable interest rate, sa first year usually eh mababa pero yearly eh mgbabago ang interest rate na gagamitin ng bank for the computation of amortization. Usually eh kung ang first year 1h 5.5% baka during the 2nd year ng loan eh magcharge sila ng 10% interest. Baka instead na makatipid ka eh lalo kang mapamahal.

We have a 10year loan sa RCBC at we opted for a fixed 5 year interest rate of 8%.

[missreese]

May lot si future MIL sa bulacan... then di pa natatransfer yung title, balak niya pag nagkapera ay itatransfer na sa name ni boyfie...

Pag dumating yung time na kasal na kami at balak na namen magpatayo ng bahay pwede ko ba iloan sa pag-ibig yung pagpapatayo ng bahay kahit di saken nakapangalan yung titulo ng lupa?

[younis]

yes pwede, co-borrower ka ni hubby, sya ang main na maglo-loan.