Getting a Housing Loan (Thread 3)

[whitebishop]

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? Answer: Sa Seller
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? Yes kailangan nasa pangalan nyo and naka encumbrance sa PAG-IBIG. this process should take 10 weeks. ping me if you need assistance i can teach you how pero syempre ikaw lalakad ha? lol

[PrincessC]

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

mga sis, pano nya nagawang fixed interest? May 10 year loan kasi ako sa UCPB and variable interest sya... every year nagpapalit depende sa prevailing rate. ngayon kasi, nasa 8.75% kami pero gusto ko sana na fixed na.

[Len0523]

Yung sa housing loan pwede bang broker na lang mag ayos at magsubmit ng requirements?
Halimbawa ang worth ng lot is 700k. Magkanu yung maapproved ni pag ibig if ever?

TIA!

[Dacian]

I'm interested on getting a housing loan too.  Backread muna ako.

[hunny_ally]

mga sis, pano nya nagawang fixed interest? May 10 year loan kasi ako sa UCPB and variable interest sya... every year nagpapalit depende sa prevailing rate. ngayon kasi, nasa 8.75% kami pero gusto ko sana na fixed na.

You ask your bank if you can get a fixed rate for x-years. For us we were able to get 7.5% fixed for 5yrs. Personally, I like it this way. At least may idea ka if how much ang babayaran in the next 5yrs. You can plan your finances better. Kaysa papalit-palit ang rate every year. Paano if nag shoot up ang interest from 1yr to another. Ok Lang sana if malaki ang annual salary increase, which rarely happens under normal circumstances.

[hello29]

We are in the process of completing the requirements na din, yung developer namin ay tied up sa Chinabank, we also pla to loan it ng 10yrs, then fixed interest rate for 5 yrs. sa mga nakaranas ng magloan sa Chinabank, 80% ba talaga ang max loanable amount sa knila? bale 30% kasi ang total DP namin sa developer, if ever ba pwede ma-approve ng 80% pa din? tas yung extra is balak gamitin for renovation. ayun thanks for your insights.

[PrincessC]

You ask your bank if you can get a fixed rate for x-years. For us we were able to get 7.5% fixed for 5yrs. Personally, I like it this way. At least may idea ka if how much ang babayaran in the next 5yrs. You can plan your finances better. Kaysa papalit-palit ang rate every year. Paano if nag shoot up ang interest from 1yr to another. Ok Lang sana if malaki ang annual salary increase, which rarely happens under normal circumstances.

our loan anniversary is in june. when should we ask them? sa loan anniversary mismo o months before?

[GABJUMZ]

Pricess C, sis better ask your bank before the anniversary of your loan. I doubt kung you can still avail the offer for the fixed interest kasi usually they are giving the options for the fixed or variable interest rate before the actual approval and before nila ibigay ang loan proceeds not to mention that you have already taken advantage the lower interest rate offer for the 1st year. Ang alam ko lang eh pwede kang maglumpsum payment yearly.

We opted for the 8% 5-yr fixed interest rate for our loan in RCBC (10years ang term of loan), there is a 5.99% fixed for a year but we didn't avail it kasi ang problem usually is hindi mo alam kung how much ang itataas ng interest rate for the 2nd to nth year. Even if the prevailing interest rate during the 2nd year will be lower, the bank will only use such rate for the new applicants but never to their existing customers. 

[Princess_Chill]

I'm interested on getting a housing loan too.  Backread muna ako.

sis if you want to get a housing loan pwede kita ma help cousin ko kasi sa housing loan siya security bank 7.5% fixed for 5 years
doon din namin kinuha housing loan namin...

[whitebishop]

Yung sa housing loan pwede bang broker na lang mag ayos at magsubmit ng requirements?
Halimbawa ang worth ng lot is 700k. Magkanu yung maapproved ni pag ibig if ever?

TIA!

yes pwede broker kailangan mo lang po bigyan ng special power of attorney yung broker (more formal version of authorization letter).  60-80% ng 700K yung pwede ma approve.

[Len0523]

Salamat Sis!

Panu po ba yun sa Pag - ibig, yung bibilhin kase namin sa kamag anak ni Bf.
Dba 80% of the price lang naman iaapprove so yun 20% ba dun na sa seller direct na ibabayad?

Thanks!

[kami_ni_boi]

mga sis interested din ako for a housing loan.pero meron ba for renovation lang? do you know the requirements?

sis princess_chill, meron bang ganitong loan ang security bank? okay na yung 7.5% fixed for five years. sa cooperative kasi ng company namin 10% na agad.

hope you can help me mga sisses. TIA! 

[Princess_Chill]

Hi sis,

[textspeak!] ask ko si cousin ko about renovation loan thingy...then pm kita kung how much interest and mga requirements

 

[whitebishop]

^^^80% of the appraised value of PAG-IBIG not the selling price. if the appraised value of PAG-IBIG is greater than the selling price then there is a chance to get the full selling price without shelling out a downpayment

^^yes merong for renovation lang or construction lang

[Len0523]

Gaano po ba katagal ang process at pag approved? Halimbawa kumpleto na lahat ng requirements.
At naipasa na sa PAG IBIG? gaano po katagal maghintay? salamat po.

[whitebishop]

^the earliest is 10 weeks due to paperworks.

[myLife26]

Kapag housing loan po ba tru bank mahirap? ano kaya mga requirements dun? kasi yung gusto namin na House and lot ni hubby bank finance lang and kami ang magpa-process wala pa naman akong idea. thanks  po

[whitebishop]

halos parehas lang with pag-ibig

[Len0523]

I think mas mabilis lang po talaga magprocess si Bank.

[chefron]

Approval sa bank can take 2 weeks...now if pre owned yung house na ibank finance, abutin din ng 2 months bago mabayaran si seller lalu na kung walang masyadong paperwork yung titlo.