Getting a Housing Loan (Thread 4)

[shinies]

^^ oh ganun pala. Thank you shinies naliwanagan ako. Nakausap ko ang robinsons land, my gulay kailangan muna nila malaman approval daw ng bangko bago daw pwede maitransfer sakin yung titulo. Pakiusapan ko ang bangko kung di sila pumayag..

Ah baka gusto nila siguruhin na ipapaloan ka ng bangko bago nila ilipat sa pangalan mo.
Kung sa estimate, kaya naman yan ng bangko titignan lang nila yung loan amount tapos yung kakayanan mo magbayad sa ITR siguro.

[shyla_c]

Question po and advise, we were approved by BPI of our housing loan. They offered us a fixed rate (8%) for the entire term - 10 years. However, I find it too steep. I asked if there are other options, they said, meron naman lower percentage but the interest is fixed upto a certain time say first 3 years etc etc. My question now po is based on your experiences which is better, yung fixed rate the entire term or fixed sya for the first few years? This is our first housing loan kaya I wanna ask sana may mga experience and knowledge which is better. Thank you!!!

[mloveg]

Mga sis, ano na next step ko? Approved na ang loan ko sa PSbank pero di ko parin alam sa Security Bank ang status namin. May naka experience na ba sa PSbank? Should I go with PSbank and idrop ko na Security bank? Need advice mga sis.. Thanks!

[shinies]

Kung nabigyan kami ng fixed rate para sa buong loan period, yun pipiliin namin para alam namin magkano babayaran at hindi na pabago bago.

Pero yung totoo depende kasi yan sa tao.
Yung iba mas gusto yung mas mababa tapos aasa na sa renewal ay hindi ganun kalaki ang pagbabago.
Kung alin mas kumportable ka, yung piliin mo. Basta tandaan na yung renewal rate ay depende sa ekonomiya (yung standard/industry rate).

[shyla_c]

sis ^mloveg^ you can follow it up with the other bank na wala pang feedback, you can wait first before going with the other bank so as lang makita mo ang difference nila in terms of interest rates and all. Para meron kang comparison. Then from there pag naka pili ka na they usually asks for the final requirements before signing up. Like us namili kami ng bank.

Thanks sis ^shinies^ for the reply. May point ka nga dun hehe. Conservative pa naman kami when it comes to money. Mas easier nga pag fixed.

Thanks!

[mloveg]

Thank you sis shyla_c    Anong mga bank pinagpilian niyo? And ano na ang napili niyo?

[mloveg]

Guys, meron na ba naka try sa PSbank? Hingi ako feedback sa service nila.. Thanks!

[shopwisegirl]

IMHO, mas better po para fixed rate ng first few years kaysa long term. dati po kasi more than 10% interest ng loan. ngaun po may nagbibigay ng up to 4.75% depende sa promo. malakas naman po economy natin. first few years ng loan full amount ang may interest. malaki po amount ng payment nyo mapunta lang sa interest.

[shinies]

Maganda naman service ng PSBank.

Oo maganda ekonomiya ngayon pero tignan mo ang prediction nila sa susunod na 10 taon. 

[mloveg]

Update lang mga sis, I got approved sa PSbank at 6.5% fixed for 5 years. Tama lang ba ang bank charges na total of 44,558.66? Here's the breakdown:

Appraisal fee                                   waived
Mortgage registration expenses         11,390
Doc stamp                                        8,798
Miscellaneous reg. fees                      5,500
Processing fee                                  4,000
Credit Life insurance                         8,445.89
Fire insurance/ Contractor's All Risk    6,424.77

[shyla_c]

Hi Sis @mloveg, sorry late reply. BPI and BDO yung banks, but almost the same lang ang offer. Ang taas ng sa amin ah 8% fixed ng full term. Bakit ang baba ng Ps bank   yung bank charges ours is nasa 35k.

[mloveg]

^actually nung nag apply kami ang rate is 7.5% pero nung inapprove, nagpromo sila ng 6.5% so yun na yung rate. Nachambahan lang hehe

[honeybunny]

same housing loan ba ang aaplyan if house reconstruction/renovation ang gagawin sa house?

RCBC offered 5.5% for 20years laon na 6M, i don't know  if fixed rate sya.. aalamin ko pa..

[finna]

Wow ang baba ng interest rate ng rcbc sis 5.5% yung naapprove na housing loan ko thru BDO is 6.88% for 5 years

[honeybunny]

^1 year lang pala yang 5.5 na yan. yung 4-5 years nila is 6.88% so parang same lang sa BDO pa la. how much yung niloan nyo? same rates ba kahit 2M lang ang iloan ? inisip kasi namin babaan yung loan amount since may cash naman kame..

[docs]

Hi mga sis!

First time ko mag housing loan but maliit lang naman amount. We applied sa BPI kasi tiningnan namin ang online calculator nila.

BPI Housing Loan Calculator
Selling Price:   P600,000.00
Downpayment:   P120,000.00
Amount Financed:   P480,000.00
Monthly Amortization:   P5,209.26

Upon approval ito ang sabi ng BPI:
BPI Housing Loan Conditional Approval
Loan amount: PHP 600,000.00
Loan term: 10 years
Interest rate : 4.75% fixed for 2year/s
Monthly amortization: P 6,290.86 (Plus mortgage Redemption Insurance)

May difference na P1000 ang monthly. Yung term na Plus MRI ibig sabihin kasama na monthly ang MRI fee o iaadd pa nila? vague kasi ang pagkakalagay nila. sana sinabi inclusive na lang para malinaw.

Also, after nyan may babayaran pa di ba?:
Appraisal fee                                   
Mortgage registration expenses       
Doc stamp                                       
Miscellaneous reg. fees                     
Processing fee                                 
Credit Life insurance                         
Fire insurance/ Contractor's All Risk

Pwede ba kaya ihaggle na kahit 4-5 years ang fixed rate nila o kapag nagdecide ba bank na iyon na yon final na talaga?

[finna]

2.4M [textspeak!] loaned amount namin sa BDO sis, we paid 30% na kasi sa developer. Fixed rate for 5years yung 6.88% then after that market rate na. We can make balloon payment naman daw every loan anniversary and if ever there will be an early payment of loan ay 3500 lang ang charge.

[cinnam]

Question, pag naapprove ka na sa loan, magsasabay ba yung downpayment sa equity and yung loan mo? And after mo ma pre-approve, may mga hihingin pa ba ulit na docs or yun na yun lahat?

Last check ko is on feb 2017 but as early as 3 mos pwede na daw mag apply kaya mag aapply na ko sa Security bank.

[Batcha@26]

Hello sises! First time girltalk here =) Nagbbalak po ako kumuha unit sa camella bucandala via bank financing. Tanong ko [textspeak!] po kung ano po usually reason na di maapprove housing loan sa bank? Pag may credit card ako nun na nag overdue pero nabyaran ko nman at nkakuha clearance letter, maapprove nman po housing loan ko? nattakot [textspeak!] kc ako n bka gawin rason un na di maapprove housing loan ko in the future. Pag ang amortization na kinuha nmin kunwari 20 years tapos nakaya mabayaran in shorter years like kunwari 5 years, mag recompute po bank nun? Or mas safe na piliin n [textspeak!] nmin shorter terms ng amort para lesser charges? Di pa kc sure kung mga ilang yrs nmin ma full bayaran.

[Sakurakun]

as per our developer, approved na kami sa BPI family savings (15yrs) and Robinsons Bank (20yrs). Na declined daw kami sa RCBC. and waiting for PNB's approval. Which is okay BPI or Robinsons Bank?

Hi sis. Tanong ko lang kung ano kinuha mo na bank? Robinsons or bpi. Thank you.
Na approved din kasi yung samin sa robinsons..