Getting a Housing Loan (Thread 3)

[beachpatrol]

Finally na-approve na yung PNB loan ko. Thank God! 7.25% interest for 5 years.

[iamtsina]

Kapag PAG-IBIG ba, tsine-check pa yung credit card history, or kung may financial capacity lang? Thanks.

[cezycez]

Hello Sisses,
Sa bank housing loan, can you include turnover cost like property taxes, document stamps, registration etc sa actual loan amount? Please enlighten me. I purchased condo, paid 20% DP. Turnover nia na and I have to pay those fees, ang bigat to pay almost 200k upfront. may nka experience naba same case? Please help. TIA

[younis]

^sis, the bank will require you to transfer the title first before nila i-release ang loan mo. so I think that's not possible.

once approved, the bank will pay the developer directly, hindi dadaan ang cash sa inyo.

[cezycez]

^ that's sad sis. Even their tie-up bank will do the same? Prang may nabasa ako sa previous thread na khit wala pa sa name ko yung title basta affiliated condo developer, they would release the money to them....i could only hope so 

[evilwoman]

^sis sa mga napagtanungan ko naman (accredited si developer samga bank na yun) mauuna ang release ng payment tapos transfer ng title,may taning na 120-180 days depende sa banko.if within that time frame di natransfer,susulat dapat si developer sa bank para humingi ng extension.worst case scenario,buy back option na lalabas - magdedemand si bank kay developer na ibalik ang pera na nirelease nila.forfeited ang loan mo pero nangyayari lang yan pag di na din daw nagbabayad ng amort si client.usisain mo mqbuti if ganun nga.mas ok if may written na agreement.mahirap na magtiwalas verbal lang.
Re bank fees,may mga bank na pumapayag na ipatong si bank fees sa illoan.ibabase yun sa loanable amount - pag mataas kasi ang salary yung loanable amount na naapprove e mataas kesa sa kung magkano na lang dapat iloan kaya pumapayag sila ipatong na bank fees doon.

[cezycez]

^ sis thank you very much. Yun nga iniisip ko, pay muna ng bank before title in this case kase tie-up cila.  And sobrang hirap to pay 200-300k upfront for taxes and fees.  You gave me hope 

[younis]

check it with the tie-up bank sis, baka naman may mga kakaibang procedure talaga depending on the situation, case to case basis kung baga. medyo maluwag naman ang mga banks ngayon, dahil atat na ata sila magpa-utang dahil sobrang liquid ang Bangko Sentral natin, maganda ang economy, kaya ang bababa ng interest rates.

[séductrice]

Girltalkers, I have a question po.

My boyfriend and I are planning to buy a property, a house and lot from Avida. We got the sample computation na and I don't think na we will have a problem in paying the monthly amortization if ever. My problem is how can we get a housing loan?

For married couples, I think this would be easier. But how do we go about this in our case? I'm still new to my company with an income of 25k while my boyfriend has been with his company for 5 years with an income of around 40k. Both of us have each have a net worth of at least a million.

Sorry for the long post but could you give any advice regarding our situation? If we try to apply for a housing loan, what are the chances that it will get approved?

[freelancer_babe]

Sorry for the long post but could you give any advice regarding our situation? If we try to apply for a housing loan, what are the chances that it will get approved?

As you might know already, your chances will still be less than those who are married - legally. Iba kasi ang power ng combined income na dinedeclare. You can't really declare combined income when you are still single.

One (important) thing that get banks worried is that - paano ang payments kung sakaling naghiwalay kayo? There's a risk that you will run away from the debt than those who are legally married - iba pa rin talaga may legality talaga ang pagsasama ninyo.

How about getting that property after the marriage? That is still an option, right?

[séductrice]

Thanks po sis freelancer_babe for your quick response.

True nga lahat ng sinabi mo. Mas madali for married couples to get loan approval. May plano naman kami magpakasal kaso December next year pa. Gusto lang namin kasi makabili agad ng property kasi mabilis magkaubusan dun sa location na gusto namin.

Possible ba na mag-issue ng certificate or affidavit stating that you are engaged or will eventually get married?

[PrincessC]

ganyan ang set-up namin now ng bf ko. hindi kami married pero the loan is in both our names. co-borrowers kami.

[séductrice]

ganyan ang set-up namin now ng bf ko. hindi kami married pero the loan is in both our names. co-borrowers kami.

Hi sis PrincessC! Glad to know na possible naman pala yung situation namin.

Paano ang ginawa nyo for this? Anything special you had to do or any special documents you had to submit for loan approval? At what bank did you get your loan?

[msrain]

May nakapagloan na po ba sa inyo sa bank na sabay ang purchase of lot and house construction? Pano nila nirelease ang proceeds? Full amount ba yung sa lot then staggered sa construction? Thanks!

[j.adore]

Meron ako kilala na nag-promisory note sila sa banko kasi di pa sila kasal eh bibili ng house and lot. Mga less than 1 year to go sila nun sa wedding.

[PrincessC]

^^^ sa ucpb kami. wala, we just declared na we wanted to get a loan as co-borrowers and we both submitted all the financial requirements. sa contract to sell kasi namin, sa pangalan namin pareho yung property kaya na-grant naman.

[mkga]

We recently got a housing loan from BPI Family for 1 million pesos. We are lucky that my fiance's parents already gave us the land and then kami na magpapatayo ng bahay. We are 90% finished with the house at kulang ang 1 million pesos.

Si fiance lang ang nag-apply ng loan. Since nakapangalan naman sa kanya yung lot, madali lang ang pag-apply nya. And may record na rin kasi siya sa BPI kasi dun din siya kumuha ng car loan a few years back at fully paid na nya 2 years ago.

I personally like BPI's service kasi madali silang kausap at todo alalay syo. As long as maibigay mo yung requirements, mabilis lang ma-approve. And of course, you must show na you have enough income to pay the loan.

[daveigh]

Mga sis, we are about to purchase a house and lot. Ang accredited na banks daw ni developer ay BDO and Metrobank lang. May dalawang concern lang ako:

- Is there a way na makapagpa-appove pa rin kami sa ibang bank? Gusto ko kasi may mapapagpilian. -- Tsaka true ba na pag sa bank ang daan ng loan mas sure na legit ang developer mo?

[j.adore]

^Kaya may accredited banks ay para sure so very rare pumayag na ibang bank. Not so sure about your developer, ano name? Have you tried researching sa net?

[daveigh]

^ they are new, 2 properties pa lang ang dinedevelop nila at small row of townhouses lang. Sanali ang name. So I cannot get any feedback via internet.