Author Topic: Getting a Housing Loan (Thread 4)  (Read 62420 times)

Tea97

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Re: Getting a Housing Loan (Thread 4)
« Reply #480 on: October 14, 2019, 06:55:21 pm »
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!
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xtine

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Re: Getting a Housing Loan (Thread 4)
« Reply #481 on: November 28, 2019, 06:26:26 am »
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

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Re: Getting a Housing Loan (Thread 4)
« Reply #482 on: November 28, 2019, 01:12:17 pm »
^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

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Re: Getting a Housing Loan (Thread 4)
« Reply #483 on: January 08, 2020, 10:58:10 pm »
^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

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Re: Getting a Housing Loan (Thread 4)
« Reply #484 on: January 10, 2020, 12:44:54 pm »
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

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Re: Getting a Housing Loan (Thread 4)
« Reply #485 on: January 10, 2020, 03:29:44 pm »
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

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Re: Getting a Housing Loan (Thread 4)
« Reply #486 on: January 14, 2020, 08:34:10 am »
^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

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Re: Getting a Housing Loan (Thread 4)
« Reply #487 on: January 15, 2020, 02:46:38 am »
^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

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Re: Getting a Housing Loan (Thread 4)
« Reply #488 on: January 15, 2020, 08:28:55 am »
^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 :D 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
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cheniwin

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Re: Getting a Housing Loan (Thread 4)
« Reply #489 on: January 15, 2020, 10:49:33 am »
^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

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Re: Getting a Housing Loan (Thread 4)
« Reply #490 on: January 15, 2020, 09:30:39 pm »
^^Salamat sis!!  :-*

Pinklet

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Re: Getting a Housing Loan (Thread 4)
« Reply #491 on: January 16, 2020, 03:05:11 pm »
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

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Re: Getting a Housing Loan (Thread 4)
« Reply #492 on: January 16, 2020, 03:04:34 pm »
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

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Re: Getting a Housing Loan (Thread 4)
« Reply #493 on: January 16, 2020, 04:10:33 pm »
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

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Re: Getting a Housing Loan (Thread 4)
« Reply #494 on: January 17, 2020, 01:54:15 am »
^^^Gosh.. salamat sis!

Maia_Cache

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Re: Getting a Housing Loan (Thread 4)
« Reply #495 on: January 17, 2020, 09:53:54 am »
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?

 


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