Author Topic: Getting a Housing Loan (Thread 4)  (Read 73512 times)

AvadaKedavra

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Re: Getting a Housing Loan (Thread 4)
« Reply #500 on: May 05, 2020, 03:49:50 am »
Hello, sisses!

Nagbackread ako kasi I'm planning to get a housing loan na rin :)

Grabe, ang dami kong nalaman. Bongga din ng knowledge ni sis @bluish_mommy! halos puro replies nya yung nascreenshot ko for reference.

Thank you inyong masisipag magentertain ng questions  :D

bluish_mommy

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Re: Getting a Housing Loan (Thread 4)
« Reply #501 on: May 05, 2020, 08:35:05 am »
^ based from experiences lang din sis ;-)

I applied for a housing loan sa Pagibig kasi before, assumption of mortgage, then after 6 years the same property we sold it to a buyer, who also did assumption of mortgage with Pagibig, so kami naman ang naging seller. then separately, nag loan din ako sa Chinabank for a housing construction project ;-)  2x kami nagtransfer ng title ng husband ko kaya medyo alam namin proseso. ;-)

sweetnspicyish

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Re: Getting a Housing Loan (Thread 4)
« Reply #502 on: May 22, 2020, 10:19:51 am »
Hi sis bluish_mommy, baka alam mo ang sagot dito sa ask ko.

I have applied a house construction loan thru pagibig. Approved na lahat. I have my PN na din and LMA, but I want to change my floor plan (bedroom and kitchen position switch) pero same floor area and specifications pa rin naman. Would you know if this will affect the approved loan?
Kasi sa previous BOM ko, 2,041,000 ang BOM now nasa 1,958,000 na lang. I was approved of 1,956,000.


for anyone who have an idea regarding my query pls feel free to answer. thanks!

bluish_mommy

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Re: Getting a Housing Loan (Thread 4)
« Reply #503 on: May 25, 2020, 05:38:36 pm »
^tama ba intindi ko, na take out na ang loan mo kasi meron ka na LMA. I think all you need to do is to inform Pagibig na nagiba ang Plan. Kasi yung housing loan ko sa Chinabank, yan ang 1 sa mga conditions nila, any changes or modifications sa current structure nya, they should be informed, kasi mag-iiba ang value ng property depende sa improvements ng house. Initially you submitted a plan, so ang inaasahan ng institution (Bank or Pagibig) na yun mismo ang susundin mo at ipapatayo mo, so any changes to it, they should be informed. I suggest, inquire mo rin sa Pagibig sis ;-)

xtine

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Re: Getting a Housing Loan (Thread 4)
« Reply #504 on: May 26, 2020, 04:59:15 pm »
Guys, mababa na ba ang interest rate ngayon?  Is it a good time to restructure the interest rate of existing housing loan?  I am thinking I need to do this because of unsecure job security.  My bank is BPI.  Thanks.

Maia_Cache

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Re: Getting a Housing Loan (Thread 4)
« Reply #505 on: May 26, 2020, 05:35:20 pm »
According to a news ive read, real estate prices will go down, so during and after may decline sa prices bec people will tend to hold on their money in preparation for emergencies(lesson learned daw). So baka mabawasan ang volume ng mga magloloan ngayon so possibility na tumaas ang interest rate. Also overall, if economy is down interest rates will go up. But seems like ph economy is still stable, sa totoo lang ok yung paghandle ng gov. also positive impact of covid to ph is more employment according to studies, rich countries will outsource employment to 3rd world countries esp PH bec of cost cutting.

haha! wala ako masyado naitulong, 50-50 rin talaga, im just waiting to see what will happen rin, for repricing na rin yung loan namin this year eh.

xtine

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Re: Getting a Housing Loan (Thread 4)
« Reply #506 on: May 27, 2020, 10:27:06 am »
^Its okay sis.  Salamat pa rin.  I hope it goes lower though like what the US is doing right now, almost negative interest rate.

As per BSP, they have lowered the interest rate to 3.25 percent and 2.25 percent on april. 
http://www.bsp.gov.ph/monetary/monetary.asp

BAISANAN

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Re: Getting a Housing Loan (Thread 4)
« Reply #507 on: May 27, 2020, 10:16:16 pm »
Hi ask ko lang anong bank ang mabilis mag approve ng housing loan? I have BDO acct. pero mas preferred ko sa ibang bank mag loan. any inputs. TIA
"whatever the mind can concieved and believe it will achive"

AvadaKedavra

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Re: Getting a Housing Loan (Thread 4)
« Reply #508 on: July 01, 2020, 03:04:40 pm »
Hi mga sis :) Ask ko lang, is it advisable na asikasuhin na yung loan application ngayon? Ang dami kasing need puntahan: BIR, PAG-IBIG, etc. Under quarantine pa rin tayo then nung huling punta namin, priority ng PAG-IBIG is yung calamity loans :( sobrang haba ng pila :(

https://www.pagibigfund.gov.ph/document/pdf/dlforms/housingrelated/HLF065_ChecklistRequirementsWindow1Accounts_V05.pdf

xtine

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Re: Getting a Housing Loan (Thread 4)
« Reply #509 on: July 02, 2020, 09:57:20 am »
^Mas maganda umutang ngayon sis kasi sobrang baba ng interest rate.  My previous interest rate sa BPI ay 5.88%, ngayon nasa 2.5% na as per BSP so mga nasa ganung range na rin ang mga private banks.  You just need to check if bukas ang mga agencies or you can try to apply online via virtual pagibig

AvadaKedavra

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Re: Getting a Housing Loan (Thread 4)
« Reply #510 on: July 03, 2020, 02:13:38 am »
^whoa! thank you sa info sis  :D will check na rin sa banks

AvadaKedavra

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Re: Getting a Housing Loan (Thread 4)
« Reply #511 on: July 03, 2020, 02:20:59 pm »
Question po mga sis.. sorry if sobrang noob. How do I get the following po?

- updated Tax Declaration (house and lot) and Real Estate Tax Receipt
- Contract-to-Sell or similar agreement between the buyer and seller
- Latest Certified True Copy of the Transfer Certificate of Title (TCT) with proper mortgage annotation in favor of the Pag-IBIG Fund
- Deed of Absolute Sale duly registered with Registry of Deeds with original RD stamp

Another Q: Is it ok to apply online sa iba't ibang banks? then compare there offers? do I need to pay?
« Last Edit: July 03, 2020, 04:22:00 pm by AvadaKedavra »

Maia_Cache

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Re: Getting a Housing Loan (Thread 4)
« Reply #512 on: July 06, 2020, 09:21:24 am »
^
- updated Tax Declaration (house and lot) and Real Estate Tax Receipt - Punta ka munispyo sa Assessor's Office, for them to asses the property tax then they will give invoice for you to pay usualy sa munisipyo rin babayaran
- Contract-to-Sell or similar agreement between the buyer and seller - you will get this from the seller if its a developer, alam ko if tao ang seller deed of sale naman ang tawag you will need a lawyer for this for the notary
- Latest Certified True Copy of the Transfer Certificate of Title (TCT) with proper mortgage annotation in favor of the Pag-IBIG Fund - you will get this from Regional Registry Office sa kanila mo ipoprocess ang transfer of title then after they will give you the new title
- Deed of Absolute Sale duly registered with Registry of Deeds with original RD stamp - same as above sa Registry office

Another Q: Is it ok to apply online sa iba't ibang banks? then compare there offers? do I need to pay? - if you are willing to pay, usualy 3-5k ang bayad sa bank assessment. For pagibig processing is 1-2k, I suggest just use the online calculator ng mga bank if you want to see their rates. there are also sites na will present the comparison, one examp[le: https://www.imoney.ph/housing-loan

AvadaKedavra

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Re: Getting a Housing Loan (Thread 4)
« Reply #513 on: July 06, 2020, 03:32:51 pm »
^thank you sis! :D absorb ko muna :)

Follow up question, if negotiable yung property, should I negotiate muna kay seller before the online home loan application? then the loan amount ba should be the orig value or yung nanegotiate na?

(Di pa rin ako makadecide if Pag-ibig or bank :'( please help)
« Last Edit: July 06, 2020, 06:02:28 pm by AvadaKedavra »

Maia_Cache

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Re: Getting a Housing Loan (Thread 4)
« Reply #514 on: July 07, 2020, 08:55:26 am »
I assume sis direct owner ang seller, yes negotiate first if cash payment the lower the better kasi lower din babayaran mo sa gov since taxes etc are computed based on the selling price declared. If loan naman it depends kasi if you have enough fund, take note they only give 70-80% of the loan amount(value of property) so you will have to cash out sa seller yung 20-30%, but if you dont have enough fund what they usually do is declare higher billing para macover na yung entire 100% ng loan mo pero internal usapan mo with the seller yan.

Had the same dilemma before but i went for pagibig, lower fees you just need to pay 2k for the entire processing, unlike bank like what i said 3-5k for assessment then once approved meron din mga 30-60k na bank charges. Mas mahigpit rin ang bank sa default payments kapag di ka nakabayad wala na agad ang property, with interest naman bank can increase the interest rates with no limit, unlike pagibig may law na may max increase lang sila na pede gawin, plus helping pagibig na rin, eventually sa retirement natin if you are paying your pagibig you will be able to get money from pagibig lumpsum payments plus dividends so if ok ang kita ng pagibig the better you will get upon retirement, with bank siyempre its private company so kumita man sila ng malaki wala ka makukuha unless your a stock holder.

catch lang since pagibig is gov syempre mabusisi and longer processing, but very helpful ang pagibig in my expi talagang ieexplain nila sayo ang process and nasagot din sila sa mga emails and calls wala ako naging prob while processing with them.

AvadaKedavra

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Re: Getting a Housing Loan (Thread 4)
« Reply #515 on: July 09, 2020, 04:14:43 am »
^omg :'D thank you so much sa detailed response sis Maia_Cache God bless you!!! I read articles & watched YT tutorials na rin about pagibig housing loans para di shunga. Will try my best to absorb every single thing you said 😁 Naisip ko nga din talagang mahal sa banks :(

Another question  ;D If I want to verify the TCT, do I need to ask the owner saang Registry of Deeds registered yung title para mavisit? or kahit anong Registry of Deeds pwede naming ivisit para maverify yung copy ni owner?

Familiar ba kayo dito sis? What's the purpose of this LRA online tracking? pwede ba dito yung TCT checking?  ;D (noob question haha)
http://citrixvss.ilfstechnologies.com/TransactionStatus/Search.aspx
« Last Edit: July 09, 2020, 04:29:27 am by AvadaKedavra »

Maia_Cache

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Re: Getting a Housing Loan (Thread 4)
« Reply #516 on: July 09, 2020, 08:44:38 am »
As far as i know dapat dun sa ROD kung saan sakop yung property.

Thanks sa link may ganyan pala! Yung last na transaction namin sa ROD sobrang tagal inabot just to remove an annotation sa title atleast may online tracking pala now na we will be processing another transfer of title. I did not expect na may website na sila kasi yung itsura ng ROD na napauntahan ko sobrang luma talaga ng office.

Pinklet

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Re: Getting a Housing Loan (Thread 4)
« Reply #517 on: July 15, 2020, 09:25:43 am »
Wag sa Metrobank mga sis. Sobrang tagal. December pa kami nagpasa and until now wala pang result. Naabutan pa nga ng Covid kaya lalo tumagal.

sweetnspicyish

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Re: Getting a Housing Loan (Thread 4)
« Reply #518 on: July 21, 2020, 10:02:16 am »
Hi sis bluish mommy, nakuha ko na yung 1st release ng check ko which is 30%.
Question, pano ang process para sa 2nd and next releases? Hindi naman kasi ako inorient kung ano gagawin pag naubos na yung money. Tho enemail ko na sila para sa next appraisal.
Usually gaano katagal kaya nila nabibigay ang next releases kasi ayoko naman sana mahinto yung pagttrabaho. May buffer naman ako ng budget pero baka kasi mabitin if ever matagal sila magrelease ulit.

bluish_mommy

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Re: Getting a Housing Loan (Thread 4)
« Reply #519 on: July 22, 2020, 01:48:21 pm »
^usually, yung contractor mo alam na nya kung ilang % na ang progress. at least 2wks or a week before you need the next release fund, ipapacheck nyo na yan sa bank para mainspect nila ang progress. Then ivi-visit ng taga bank, after few days of evaluation, magre-release na sila kung pasado ka sa 1st inspection.

 


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