Getting a Housing Loan (Thread 4)

[aranses]

na-approve din kami sa wakas sa landbank after a month, marami sila hiningi sa amin documents. Akala tuloy namin wala na pag-asa. 5.5% fixed interest rate binigay sa amin for 10years. Hinihintay ko pa magkano fee,mri and property insurance nila.

feb 2 kami nagpasa requirements, after a week nagCI sila sa property. Then may nagreflect na criminal record same name sa husband ko kaya dito kami natagalan kasi nirequest nila affidavit of denial plus documents to support the denial like prosecutor clearance,nbi clearance at court clearance.

today nirelease nila approval documents.

[fionaapple]

^congratulations sis aranses. ang baba ng interest rate ng landbank.

[jdrmend]

wow! ang baba ng interest rates at fixed pa for 10 years! congratz po.

[aranses]

oo nga super baba ng rate namin. May-ari kasi ng condo bibilin namin may position sa landbank kaya siya na mismo nag-endorse sa amin then nirequest niya babaan interest rate, tulong niya sa amin. hindi na kami nag-apply sa iba, nakakapagod magpasa ng documents at makipag-usap sa agent. 

[vain_kixie]

Sis may we know how much is the loan? Im just starting to learn about loaning.. sabi ng mom ko pag mas mataas daw ang loan mas mataas daw ang interest.

[jdrmend]

Ang alam ko, wala sa amount yun, more on kung gaano mo katagal sya mababayaran.
For example ang interest rate ng fixed for 3 years is nasa 6% lang (sample) compared to a loan na 5 years, siguro around 6.8% and pag 10 years na, nasa 9% . again sample lang.
So if gusto mo talaga makatipid sa interest and you think na kaya mo naman ma-settle, get a shorter period than yung matagal na loan na mas mababa ang monthly pero in the long run eh talo ka sa interes

[vain_kixie]

Amount and time/years daw.

[aranses]

Regarding sa housing loan namin na approved 1.9M it's 6.7% pala fixed for 5years not the 5.5% na sinabi sa amin during discussion. The 5.5% os for 1 year interest if gusto namin yearly computation

Around 53k lahat estimated fees. MRI around 13k, fire insurance nasa 5.9k. Nahilo na ako basahin iba babayaran.

[rasee16]

^Ay ok sis.. Hindi pala mababa yung rates na nakuha nyo

[aranses]

^oo nga hindi pala kami nakamura.  hindi na kami nag-apply sa iba kasi kampante kami sa sinabi ng seller na kaya niya pababa rates to 5.5%, then nagpadala pa siya sa akin sample computation. Kanina pagpunta namin sa bank para magpirmahan doon ko lang nalaman na 6.7% fixed for 5 yrs.

[rasee16]

^Sayang naman sis sana nagtanong ka rin sa iba. Ang taas ng bank fees mo.. Ako naman sa Metrobank, 43k bank fees for a 3.2M loan

[meimei]

^Sayang naman sis sana nagtanong ka rin sa iba. Ang taas ng bank fees mo.. Ako naman sa Metrobank, 43k bank fees for a 3.2M loan

Sis, yung 3.2M mo sa Metrobank, ilang yrs and magkano interest rate?

When my mom inquired with them for me (kasi busy ako, hehe), 6.38% daw fixed for 5yrs, pero di na natanong ng mom ko ilang yrs yun and kung magkano other charges.

So far, that's the lowest. Second lowest is PS Bank at 6.75%, then BDO and BPI at 6.88%. Pero initial inquiry lang, di ko pa nauupuan about other charges, etc. Kaya di ko pa rin masasabi

Btw, what i need is a 4.7M loan, mga 15-20yrs siguro.

[ayi21]

Anyone here tried UCPB? Our agent told na masmababa daw int rates ni ucpb compared with other banks? And since accredited ni ucpb ang developer namin masmadali daw magprocess ng loan.

^we need a 4M din for our unit medyo malapit-lapit na ang turnover. Sa july na.

[meimei]

^shucks, July na rin ang turnover ko. Pareho tayo! Grabe, share naman ng details ng lowest mong makuha ha. Share ko rin sayo if i find something lower than Metrobank's 6.38% fixed for 5yrs

[NikkiV]

Is it considered refinancing if we're going to apply for a bank loan after two years of inhouse financing from the developer?

Is it an effective strategy to apply in different banks tapos compare compare and tell them na mas mababa bigay ni so and so bank? Or hindi naman nakakaaffect yung ganung pag negotiate?

[ayi21]

^^ Oh, wow. July din? Baka pareho din tayo lilipatan sis. Hehe. Sige sis update kita sa mga banks.

[j.adore]

Anyone here missed MRI and insurance payment? What happens to the loan?

Super bagal ng taga ayos 😡

[tailgate]

penalty?

[crzysxycl]

Hi sisses! Got our final approval from BPI, sa tingin nyo ok ba to?

Loan Amount - Php 919,874.34
Term            - 10 years       
Interest rate  - 6.88%  fixed for first five years. The interest rate quoted herein is the prevailing interest rate as of the date thereof, final interest rate to be determined on drawdown date
Monthly Amortization - Php 10,623.72 fixed for 5 years annual repricing thereafter

Other conditions:
        - Subject to procurement of Mortgage Redemption Insurance under BPI-Philam
        - Subject to procurement of fire insurance under BPI-MS
        - Subject to Terms and Condition of Amaia Land Corp. Tie-up Agreement

Requirements:
1. Payment of Bank Charges amounting to Php 25,084.25 comprised of the following:
        Registration Fee                           Php   8,009.00
        Processing and Handling                      10,000.00
        Documentary Stamps                            4,645.00
        Notarial Fee                                            400.00
        Fire Insurance Premium                         2,030.25
2. Completely filled out and originally signed application form
3. Endorsement Letter and Computation Sheet with same Selling price from Amaia Land Corp.
4. Contract to sell - signed and notarized
5. Copy of at least two valid ids subject to bank acceptance
6. Single or Joint BPI/BFB deposit account for auto debit of monthly amortization
7. Marriage contract
8. Latest Income Tax Return

Thank you in advance!

[j.adore]

The bank contacted us for other matters and not the insurance stuff so I'm assuming no penalties.