Getting a Housing Loan (Thread 4)

[cheniwin]

hi! we're planning to buy a townhouse. worry namin kung ma approve ba kami ng husband ko for a 4.5M loan. may idea kayo how much ang combined income sa gantong loan amount? pasado namin kami sa online calculator. however, dipa rin maiwasan mag worry. huhu

Hello sis, we bought a townhouse too of same amount, patapos na kami sa 20% downpayment, how was your experience? did you opt for Pagibig or Bank? what are the other fees or cash out you did before you actually pay for your first monthly mortgage? thanks in advance

[Tea97]

Hi, magtatanong lang sana ako if anyone knows what are the current repricing interest rates from BDO for home loans, specifically yun home equity loan (difference ng latter sa former is ginamit na collateral is existing owned property na).  Puro initial rates lang kasi with different tenors (no of fixed years ranging from 1, 2, 3, 5y). TIA!

[xtine]

Recommended ba na bayaran ko ng sobra sobra yung monthly amortization (housing loan)?  For example instead of 50,000 monthly due, around 70k ang binabayad?  Ano ang pros and cons with this type of payment?  Aside sa lumiliit yung remaining months to pay, nakakatipid ba ako sa interest in the long run?

Salamat mga sis!

[bluish_mommy]

^sang institution ang loan mo? kung sa Pagibig yan, as long as you indicated that the excess should be applied to principal. pero kung sa bank, normally may allowable minimum number of months of amortization lang sila ina-allow, say for example 3x monthly amort ang minimum sa Chinabank every anniversary loan date lang pwede ihulog.

[cheniwin]

^it depends on when the Transfer of Title will be completed. ang panghahawakan mo lang from the bank is Letter of Guarantee, andun ang amount kung magkano ang babayaran ng bank sa iyo. etong LoG makukuha mo agad ito once ma-approve ang loan ng buyer sa bank. pero ma-e-encash lang ito upon completion and submission of all documents to the bank.

Hi sis, naapproved na kami ng BPI, un letter po ba ng Guarantee ibibigay na lang after naming mag sign ng contract? are there other documents that we need to submit? or ng seller? Thanks Kahapon we went to the back and nag pirma na kami ng maraming papers kakapagod

[bluish_mommy]

Hi sis, naapproved na kami ng BPI, un letter po ba ng Guarantee ibibigay na lang after naming mag sign ng contract? are there other documents that we need to submit? or ng seller? Thanks Kahapon we went to the back and nag pirma na kami ng maraming papers kakapagod

ah kayo pala ang nagloan. so kayo ang buyer tama? next step, you have to transfer the title under your name bago i-take-out ng bank ang loan nyo. separate process naman itong transfer of title, dito kayo matatagalan, maraming documents at steps na need tapusin, like you need to pay Capital Gains (by default seller magbabayad neto, pero depende sa negotiation nyo), eto naman under your responsibilities as buyers: magbabayad kayo ng documentary tax, Transfer Tax , Transfer Fee Annotation fees. Yang NEW TITLE under your name ang isa lang sa mga documents na ni-re-require ng bank.

[cheniwin]

I see thank you so much sis ang dami pa pala, we are done pa lang with the notarised absolute deed of sale, kami po lahat kasi our seller is not a company but an individual person lang who buy and sell houses, thanks again

[bluish_mommy]

^once notarized na ang deed of sale, you have to transfer the title immediately because may allotted period lang to do so, otherwise mape-penalize kayo sa BIR. goodluck! 

[xtine]

^sang institution ang loan mo? kung sa Pagibig yan, as long as you indicated that the excess should be applied to principal. pero kung sa bank, normally may allowable minimum number of months of amortization lang sila ina-allow, say for example 3x monthly amort ang minimum sa Chinabank every anniversary loan date lang pwede ihulog.

Thanks sis.  Mine is with BPI.  Gusto ko ilower yung years of payment from 10 years to 5 years by paying in advance.  Now I was planning to do like pay 2 times of the monthly amortization every month.

[simang]

^Sterling bank kami, ang advice nila sa amin instead of paying higher monthly amort, lump sum na lang every year para daw mas madali sa kanila magcompute Sa pagkaintindi ko though, since sa principal ibabawas yung excess payment, mas liliit yung interest in the long run. We asked kasi plan rin namin sana taasan yung monthly, pero yun nga inadvice nila. So instead of paying 20k extra monthly for example, mas better daw for them to receive 240k a year para easier ang recomputation

[cheniwin]

^once notarized na ang deed of sale, you have to transfer the title immediately because may allotted period lang to do so, otherwise mape-penalize kayo sa BIR. goodluck! 

Thank you soooo much we got the letter of guarantee, is it ok to declare a lower amount sa deed of sale?

[xtine]

^^Salamat sis!! 

[Pinklet]

Thank you soooo much we got the letter of guarantee, is it ok to declare a lower amount sa deed of sale?

Yes, we did this. Kase based sa deed of sale ang ibabayad sa atty para mapanotarized yung deed of sale at yung sa transfer tax ata, dun din nakabase. Pero ang consequence daw nun, pag inassess ang value ng property, dun din nakabase sa nakadeclare sa BIR.  (not entirely sure, pero yung binayad namin sa atty, sure ako, dun nakabase)

[Pinklet]

We recently applied for house construction loan sa metrobank. Kakasubmit ko lang ng mga requirements. Ang dami. Nasa appraisal period pa pero I will update you all kung ano kinalabasan at interest. Wala na ako time magsubmit sa ibang banks kase sa abroad kami nagwowork. Nahirapan din ako magproduce ng mga requirements.

[bluish_mommy]

Thanks sis.  Mine is with BPI.  Gusto ko ilower yung years of payment from 10 years to 5 years by paying in advance.  Now I was planning to do like pay 2 times of the monthly amortization every month.

oh! doing such will not lower the principal, hindi sya katulad ng Pag-ibig na liliit ang principal agad agad. check with your bank, may certain rules sila na you will only be allowed to pay (in lumpsum up to x # of amortization), like sa Chinabank, minimum of 3x of monthly amortization ang pwede mo bayaran in lumpsum EVERY anniversary ng loan mo. I would suggest, ipunin mo na lang yan, then pagdating ng LUMPSUM schedule mo, dun mo ibuhos lahat.

[xtine]

^^^Gosh.. salamat sis!

[Maia_Cache]

hi i have a question after the repricing period for ex i get the 1yr repricing, diba magrerecompute si bank or pagibig ng balance mo after 1 yr, after that ba ikaw pa rin yung magdedecide ng repricing period ulit na gusto mo? coz what if gusto ko ulit 1yr repricing since lowest interest rate un. ganun ba siya or this time around sila na magdedecide ng repricing period mo?

[swtgrl_bee]

Sis bluish_mommy nice to know ito, ganyan pala kapag sa bank ano? Hindi automatic na bumababa ang principal kahit mag advance ka.

[brentberger]

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[jasminestar]

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