Getting a Housing Loan (Thread 4)

[dyosabel]

^thank you bluish mommy! Nakampante ako.

[crzysxycl]

Thanks sis rasee. Sige try ko nga rin, nababasa naman ng superior nya yon kasi copied sya sa emails. Baka nagtatanga tangahan lang, kainis. Ang dinadahilan sa akin nung loan processor ngayon eh October pa naman daw deadline ng proceeds. Oo nga nandun na ko, pero yung bank guarantee malinaw na April 5 ang due date. Ano pala yung LOG sis? Sorry first time ko kasi mag loan. Thanks!

[rasee16]

Bluish mommy yes, wala talagang bayad kahit isang sentimo dun sa appraisal ng 2 banks namely bdo and rcbc. Sinabi ko na last time, nag CI sila, nagappraise, nagpasa ako ng complete financial docs, at APPROVED. Pero ZERO talaga ang appraisal fee.

[rasee16]

^Sis Letter of Guarantee yung LOG. Rinerelease ng bank sa developer yun then may bank requirements sila kay developer (mga documentations sa deed of sale, title, etc.) Minsan matagal din magprocess ng documents si developer na ipapasa kay bank kaya malamang nagset sila ng maagang deadline para sure na maayos nila beforehand.

[bluish_mommy]

^^ang suwerte! baka ganyan na ngayon ang ginagawa nila para lang sila ang kuhain for the loan.

[crzysxycl]

^^I see, thanks sis! Medyo nakahinga ako ng maluwag kasi tinawagan ko developer, sabi ok lang kahit until end of month maipasa ng bpi yung bank guarantee. I asked the loans processor kung kelan estimate nya maipasa yung bank guarantee, didn't tell her about my conversation with the developer yet kasi gusto ko malaman kelan talaga mabibigay yung docs, baka pumetiks petiks nanaman kasi sya pag nalaman nyang pwede until end of month. Medyo nakakalito pa, sa CTS kasi nakalagay LOG must be submitted 30 days before October 5, pero bank guarantee dapat April 5. Kung alam ko lang katakot takot na stress aabutin ko pagbili ng condo na ito sana pala naghanap hanap pa muna ako ng iba.

[t_r_i_c_i_a]

sisses, clarify ko lang nabasa ko 0 appraisal fee ang bdo? tawag sila ng tawag sa akin asking for 3,500 appraisal fee last week lang..

[aNgelofThEMorning]

Meron na pa lang no appraisal fee ngayon, sana inabutan ko dati yan. I remember yung sinasabi mong pre-approve bluish_mommy ganyan ata nangyari sa akin sa BPI, nagpasa lang ako ng financial docs pero wala pa talagang appraisal sa property. Tawag nila conditionally approve ako tapos ang email nila is "To secure final approval, we need to appraise the property to be used as collateral.Below are the requirement/s:

1. Photocopy of Owner's duplicate copy of TCT/CCT
2. Appraisal fee (Php5.0K)
3. location plan/vicinity map
4. Tax declaration on land and/or improvement
5. Bldg. Plan, Scope of Work and Bill of Materials (Construction loans)

Alam ko yung amount na na-approve pwede pa rin mabago kase magba-base na sila sa appraised value ng property.

[bluish_mommy]

^true, so ganyan na pala ngayon ginagawa ng mga banks, 0 appraisal/application fee to attract borrowers. yung pre-approved normally ang tinatanong lang eh yung magkano net pay mo at amount nung property na interested ka bilhin, then from there sila magco-compute, somehow eligibility at approximation lang ang ibibigay nila, but still no guarantee na ma-a-approve talaga, since kapag for example itinuloy mo yung application with them, they could discover na may problema sa credit standings, delinquency or something. so marami pa ring factors. normally if you are approved to 1  bank, sa ibang banks din ma-approve ka, since banks share a central database when it comes to credit standings record.

[rasee16]

I think depende sa developer yung regarding appraisal fee. Baka ka-tie up nila yung banks na napplyan ko kaya libre na haha. Tsaka wala kasi akong sinubmit na ganyang requirements eh (tax dec, location plan, tct, etc..) Mukhang internal ang usapan ng developer and bank dyan kaya wala ng hinigi sa akin. Nung maapprove, hindi rin naman "conditional approval" kasi pirma ko nalang sa contract ang hinihihintay nila.

[aNgelofThEMorning]

^ siguro nga sis kase may developer ka. Yung akin kase retail, wala akong developer. Sa pag-ibig housing seminar hiwalay ang seminar ng retail at developer kase alam ko magka-iba yung process. Tsaka sabi nila pag may developer mas madali mag-loan kase yung mga need mo ipasa usually kay developer na manggaling. So mostly financial docs na lang bibigay mo.

[jdrmend]

same here. I submitted my application for home loan to 5 different banks and na-approve din naman ako dun sa lahat. Like rasee16, wala din akong binayaran kahit piso sa lahat ng yun.
Nung nakapili na ako ng bank, and signed the contract, saka lang din ako nagbayad ng one-time bank charges amounting to 45K.

[ember_sky]

Hello po!
May idea po kayo pano kapag may H&L ako sa pagibig (1 year palang) then balak ko sana siya ibenta,
ano pong process non? Thank you

[meimei]

Paano pag di pa na-turnover yung condo, anong iprepresent na document sa bank as proof of collateral?

[danda]

same question with sis ember_sky, pero kami 5 yrs na sa Pag-Ibig.

Edit:
Sis nag-chat ako sa Pag-IBIG Member Relations Officer, ito sabi niya.

Member Relations Officer (11:05 AM): We would like to inform you that you may sell the property presently mortgaged with Pag-IBIG Fund to another qualified Pag-IBIG member provided
 that the title of the property has been transferred under your name. Your buyer needs to apply it for the housing loan in order to transfer the loan obligation to him/her or your buyer may opt to pay it in cash.
Member Relations Officer (11:06 AM): Kindly advise him/her to get the checklist of requirements and housing loan forms from our website, www.pagibigfund.gov.ph
(link - http://www.pagibigfund.gov.ph/dlchecklist.aspx and http://www.pagibigfund.gov.ph/downloadable.aspx ) and submit the applicable requirements and forms to any of the Pag-IBIG offices
listed below and pay the non-refundable partial processing fee of P1,000.00:

 HOUSING SERVICING DEPARTMENT
 409 Additional Hills JELP Business Solutions Building,
 Shaw Boulevard, Mandaluyong City

 IMUS BRANCH
 Olma Building
 Emilio Aguinaldo Highway,
 Imus, Cavite
 Provident Fund Operations
 Email Address: imus@pagibigfund.gov.ph

 KAMIAS BRANCH
 795 Anchor Building,
 EDSA, Quezon City
 Provident Fund Operations

 Email Address: kamias@pagibigfund.gov.ph

 And all Pag-IBIG Fund provincial branches.

 Please take note that if you purchased your unit from a real estate developer,
 the title of the property should already be transferred to your name (from Contract to Sell to Real Estate Mortgage) before you sell it to another Pag-IBIG member.

[ember_sky]

^ ohh kelangan pala nasakin na yung title. kaso wala pa eh. hahaha. 1 year palang ako nagbabayad sa pagibig

[bluish_mommy]

^not necessarily na sa iyo na ang title, of course pag naka mortgage ang title nyan eh under the security of Pagibig, nasa kanila yan, sina naghahawak. ang ibig sabihin dun sa sinabi ng Pagibig officer, dapat bago mo ibenta yung property mo na naka-mortgage, dapat yung title naka transfer na sa name mo. Assumption of Mortgage ang tawag dito, ipapa-assume mo sa ibang Pagibig borrower ang existing loan mo.

[crookshanks]

hi, not sure kung natanong na to before pero parang wala pa naman ako nabasa.. I know factor sa approval ang loan pag delinquent ka sa credit card, but what if almost max out mo yung limit mo pero di ka naman nadedelay sa payments, nakakaapekto din ba yun?

[rasee16]

^pinapasulat lahat ng existing loans/credits para makita nila financial capacity mo. Kung kaya ng income mo bayaran yung housing loan kahit may existing na loans pa.

[crookshanks]

thanks sis, medyo naisip ko nga na baka ganon.