Getting a Housing Loan (Thread 4)

[icegayle]

I need inputs mga sis. I bought 2 plot and balak namin patayuan ng house yun isa pwede kaya ako makapagloan sa bank then ang magiging colateral ko is yun isa ko pang lupa? Ang dilemma ko lang is maa-approve ba ng bank since hindi na ako Philippine passport? Hindi rin ako dual ctizenshp. Pero yun pagbili ko sa lupa nakapangalan sakin inaccept naman kahit hindi ako pinoy passport.

[BAISANAN]

saan bank po ba mabilis mag approve ng housing loan?

[dillybar]

Hi!
I would lime to ask kung nag aaccept ba si Pag-Ibig ng pre-selling condo unit? I am about to buy a condo unit po kasi then sabi ni DMCI broker na ang need ng pag-ibig daw is title, eh ang maibibigay palang ng DMCI is the contract in the DP period po, so how can I apply via pag-ibig financing? pwede parin ba mag apply ng housing loan via pag-ibig po? TIA

^^From experience:

House & Lot loan from bank - mabilis ang transfer of title since hindi babayaran ni bank si developer unless matransfer ni developer ang title sa owner. Between 2 to 3 months siguro, release na ang title, na turn over na rin ang unit.

House & Lot loan from Pag-ibig - took 6months for developer to complete the papers and for Pag-ibig to approve the loan.  Matagal dahil hindi pa naitatayo ni developer ang unit na for loan.  Hindi mag-iinspect si Pag-ibig unless nakatayo na ang unit at pwede ng i-take out ng owner.

Lot only with Sta Lucia - title was released 2 years after ma-fully paid ang lupa.  We didn't mind then kasi di pa naman namin papatayuan, kaya ok lang.

[bantz328]

^
I inquired sa DMCI directly because I was planning to apply for a Pag-Ibig housing loan for my unit (pre-selling pa lang currently).

However ang sabi sakin ng customer care, DMCI no longer accepts Pag-ibig housing loans dahil sa requirement about the title. Since the title will be available pa 1 year after turnover ng unit, hindi talaga kaya sa Pag-ibig mag-housing loan. I was advised to opt for bank housing loan instead. With the current rates though, mukhang tataas pa in the next years yung interest rate so I'm looking for alternative options.

[halsimkarim]

Update sa application ko sa Security Bank ang bilis ng process nila 4 days nalaman ko kagad na approve ako with the loan amount. Kaso maliit un approved amount kaya baka di na lang namin kuhain. May nakapag try na ba senyo sis magpataas ng loan amount from the bank housing loan?

[halsimkarim]

Update uli sis sa housing loan ko. Sinubukan ko irequest na pataasan pa un approved amount tinaasan naman nila mga sis so pwede nga sya. Pero ittry pa din namin sa pagibig kasi un 3 years fix rate nila is nasa 6% lang yun sa secb kasi 7% pero if mag fall lang din ng halos same mag babank na lang kami dahil ang hirap mag process pag government matagal mag release ng cheque ang pagibig.

[o9kristin]

^sis nung nagpataas ka ng loan amount, enough na ba to cover 80% ng selling price? Worry ko din kasi na baka mababa appraisal dun sa bibilhin naming h&l. Pre-owned kasi kaya iniisip ko baka sobrang baba ng value..

[halsimkarim]

^sis nung nagpataas ka ng loan amount, enough na ba to cover 80% ng selling price? Worry ko din kasi na baka mababa appraisal dun sa bibilhin naming h&l. Pre-owned kasi kaya iniisip ko baka sobrang baba ng value..

Yung samin sis oo nacover na 80% kahit pre-owned na. Yung una kasi 70% lang un approved loan amount. Ganon daw talaga pag pre-owned. Titignan din daw nila un capacity to pay to consider na taasan.  Ayos naman yung naibigay samin. Bale yung 20% na lang yung binubuo ko na pera. Pero ittry pa din namin sa pagibig kasi ang sabi ng father ko almost close daw pag pagibig and na-aadjust din base sa capacity to pay

[bluish_mommy]

@halsimkarim and @o9kristin, 80% na ang pinakamataas na maipapaloan ng isang institution (Bank or Pag-ibig or SSS), kung isasagad pa nila yan for any reasons, gang 90% siguro pero bihira yan sa pagkaka-alam ko.

[o9kristin]

^oo nga e. Actually sobrang mababa lang amount na need namin. 1.5M yung selling price for 85 sqm na h&l. Ok yung location and community but the house is really old. 30yrs na. Based naman sa home loan calculators online, sobra sobra ang capacity to pay namin for the amount we need. We are eligible daw up to 4M but if they will Just base the loan amount with the value of the h&l alone, baka sobrang baba ng iga-grant. I really hope na i-consider din nila capacity to pay. Ayoko na magshell out ng extra money aside from the 20% DP because Im reserving it for renovation..

[bluish_mommy]

^nope sis, isang factor lang ang capacity to pay. hindi purkit kayang kaya nyo magbayad they will grant the amount that you need, normally it's really the appraised property value + capacity to pay + credit standings + (iba pang elements na hindi known sa atin).

talagang sa pagbili ng property you really need to shell out for the equity na tinatawag or DP, idagdag mo pa dyan ang cash needed for the processing of the papers like transfer of title, maraming expenses dyan. 

[o9kristin]

Question lang, what is the process in getting a tax clearance? Sa munisipyo ba yun or sa BIR? It?s one of the requirements for our loan but our broker said na saka na daw nila ipo-provide yun pag na-transfer na ang title to us. Ganun ba talaga? Also, they provided a copy of tax receipt naman for 2019. Can we assume na updated ang taxes nung property? Or possible ba na may unpaid taxes sa previous years at yung for 2019 lang ang bayad?

[Pinklet]

Hi.

Matanong ko lang sana, ang housing loan ba na pinapasa ng contractor sa banko, bill of materials lang? or may other bills dun kagaya nung sa labor?

[bluish_mommy]

^complete Bill of Materials, Complete house plan signed by all engineers (electrical, plumbing, etc).. all should be Signed and Sealed.

[thebratinella]

Hi sis! did you pursue your loan application with PNB? Kamusta naman? May rough estimate ka how much yung adhoc fees (mortgage registration fee, processing fee etc).

Hi! We just submitted the bank forms this month for PNB, UCPB and Robinsons Bank. Pinasa namin sa developer lahat ng forms and requirements. Last payment for equity namin this month. We're waiting for feedback if maapprove kami dun sa banks. If not, options are Pag-ibig and in-house financing.

[redeemed_316]

Hi everyone,

Regarding sa MRI and Fire Insurance, auto-debit ba yun sa bank?
I received a text message kasi from China Bank about sa MRI insurance na need ko daw bayaran on or before the expiration (1 year na ng loan ko last June 26) otherwise they will deduct daw to my account --  so I funded my account pero hindi naman nila dinedebit so confused ako baka magkaroon ako ng additional charges dahil di ako nagrenew ng MRI?
About sa Fire Insurance I don't have idea if yearly din ba and san ako magbabayad.

tia!

[mamaneng]

Hi!

Last month po naapproved ang bank housing loan namin 2.9M but the bank sent me a breakdown of bank charges amounting to 170k. 100k po for the MRI. Not sure kung ganito talaga ang mga amount ng MRI ngayon. Need your inputs po before ako magsign ng loan docs.

[yekaterinburg]

Hi!

Last month po naapproved ang bank housing loan namin 2.9M but the bank sent me a breakdown of bank charges amounting to 170k. 100k po for the MRI. Not sure kung ganito talaga ang mga amount ng MRI ngayon. Need your inputs po before ako magsign ng loan docs.

[textspeak!] bank mo sis?

[cheniwin]

Hi,  so we are almost done paying for the 20% downpayment, and almost finish na ang construction ng house. My question is, we are planning to apply in Pag Ibig or Bank, which is preferable? kung long term payment and gusto namin.
What are the exact if possible itemized additional payments that we have to prepare upon submitting the loan application? example Application fee, survey fee etc etc
The agent told us to pay for 3% of the price amount for the charges and 3.15% of the price for the transfer of lot.
I think hindi lang yun. I don't want to be surprise pag sinimulan na kami singilin ng bank or pagibig and agent.
I've been reading pero puro vague walang actual item and enumerated fees and other costs hangang before kami maapproved and magstart ng monthly amortization
Please help and thank you in advance!

[bluish_mommy]

^I would prefer PAGIBIG, mas mababa ang yearly repricing rate nila compare sa banks. mas lenient din sila sa tao, mas flexible. I would assume wala pa sa name nyo ang title ng property? I would suggest if you have the time, kayo mismo ang maglakad ng pagpapatransfer para malaman nyo ang proseso at mga expenses. nasa pagpapa transfer ng title kasi talaga ang bulk ng expenses.