Housing Loan

[rudder468]

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Depends on the appraised value of the house, you can get 80% LTV. You need steady income documentation and good credit. You can only get so much for a property dependent upon what the bank thinks you can afford, also tied to the value of the property.

Motor bike tyres

[nodols3]

Mas gamay daw ug interest sa RCBC sis as what I've heard from a co-worker.
Do you have data from RCBC?

[cebu.opportunities]

@nodols3,
naa pa daghan mas gamay og interest rates ky nag-compete sila paubsanay (and due to "okay" ang economy) but convenience-wise on our side, mao lang na amo gi-inquire.

sorry, wa nami ni inquire sa rcbc.

by the way, paspas ang processing sa bdo. naay uban nga wai klaro ka-isotrya pero sa paper works, paspas sila. mas una pa na approve sa ila bisan wa na kayo gi-ff up.

OnT: for SPA,
naay ilahang format and forms ang bdo and bpi.
sa ps bank, okay ra sila bisan unsa as long as ang content ky mo-fit sa ila gipangayo.

[jaoey]

Limitations in Pag-IBIG Housing Loan:
1. Less than 28 sqm lot area
2. Less than 18 sqm condominium floor area
3. Title under the name/s of deceased owner/s
4. Title with liens/ encumbrance(s) (Sec 7 of RA 26)
5. Free Patent Title not covered by RA 10023
6. Title with disputes, claims in the court
7. Married individuals not legally separated and cannot secure marital consent or Special Power of Attorney (SPA) from spouse
8. Properties with road right of way less than 1.5 meters
9. Land types classified other than Residential Use
10. Properties with "Rights" instead of "Titles" as proof of ownership

hi ask lang ko regarding aning ika 4. Title with liens/ encumbrance(s) (Sec 7 of RA 26)

is it necessary na ang lot para sa construction loan must be named to the lending person? wat if naka name pa sa akong parents ang lot? dili maaprove akong loan?

[correspondent24]

I tried sa bpiloans.com sis, naay self assessment didto.
Do BPI really need a collateral (ie. house and lot, lot, condo unit and etc.) if mag housing loan ko?
Dili diay pwede i mortgage lang ang house and lot nga akong paliton?

Also it says 6%~7% or 8%, 9% 11% or what-not per annum they are all with a term, but unsa ang style nila.
Since it's with a term man, ilang i deduct daan ang expected nga interest sa imong makuha na loan?
Is it nga computed na tanan then 7% or something ra gyud ang per annum.

Another is what if nag loan ko karon for 10 years term, then after one year naka daug ko ug lotto.
Pwede nako kaha mabayaran tanan nalang i bulto? or stictly follow gyud sa terms of payment?

[cebu.opportunities]

hi ask lang ko regarding aning ika 4. Title with liens/ encumbrance(s) (Sec 7 of RA 26)

is it necessary na ang lot para sa construction loan must be named to the lending person? wat if naka name pa sa akong parents ang lot? dili maaprove akong loan?

Yes, it is. If the capacity to pay of your parents is not enough, pwede ra ka mahimong co-borrower.
ask the bank loan in-charge lang kung pwede mortgager imo parents dayon ikaw ang borrower. basta ang standard ky ang owner ang borrower. if di pwede nga mortgager imo parents dayon ikaw ang borrower, pwede mo hire a lawyer then himo og contract to sell. (that is kung mosugot imo parents nga makapangan na sa imo ang Title) kailangan pasad ka mag-process for Deed of absolute Sale, ipa-register sa Registry of Deeds, etc pero if naa na ang contract to sell, pwede nmn maka-apply for housing and/or construction loan.

I tried sa bpiloans.com sis, naay self assessment didto.
Do BPI really need a collateral (ie. house and lot, lot, condo unit and etc.) if mag housing loan ko?
Dili diay pwede i mortgage lang ang house and lot nga akong paliton?

pwede ra ang property itself if it will suffice the amount you intend to loan. if di affiliated ang property sa ila dayon used na, mga 60% of the appraisal value na lang pwede ma loan. if brandnew dayon affiliated pajud, approx. 80% to 100% of the contract price pwede ma loan.

Also it says 6%~7% or 8%, 9% 11% or what-not per annum they are all with a term, but unsa ang style nila.
Since it's with a term man, ilang i deduct daan ang expected nga interest sa imong makuha na loan?
Is it nga computed na tanan then 7% or something ra gyud ang per annum.

same principle sa compounding and decreasing interest sir.
tasagaran, di na mag-matter ang loan term or years to pay but ang number of years where the interest rate will be fixed.
exampe, yearly fixing imo gipilii. let's say, 6% ila interest rate for 1-year fixing for 2013. mao na ang interest rate sundon for the year 2013. by 2014, ni ubos ang interest rate sa 1 year fixing ky good ang economy and nahimo og 5.5% so 5.5% napud ang interest rate sa imo loan ana nga year.

interest rate as of 2013 sa 3 years fixing ky 6.5%. 6.5% ang iapply nga interest rate until 2016 (for 3 years) regardless the status of the economy. pag. 2016, ni increase ang interest rate to 7.5%, 7.5% nasad sundon nga rate upto 2019.

Another is what if nag loan ko karon for 10 years term, then after one year naka daug ko ug lotto.
Pwede nako kaha mabayaran tanan nalang i bulto? or stictly follow gyud sa terms of payment?

sa bpi, you are allowed to pay in advance anytime as long as it will be at least 5 months of monthly amortization.
let's say, imo monthly amortization ky 20k per month. This month (May) ganahan ka mo advance og bayad, so you should pay at least 20K (amortization for the month of May) plus at least 100k (good for 5 months nga amortization that is 20k*5=100k)

hope na klaro ra, hehe...

[MAGNETIC.LEVITATION]

Diversified na kaayo imong knowledge gyud ani sis,
Makatabang ka namo mag secure ug housing loan sis or buying our dream home? hehe

[janclaudette]

good thread you have here ts... sa amo part, naa mi g.inhouse financing nga lot sa isa ka developer dnhi sa cebu. now, we want to build a house on that lot na. dili rmn strict ang developer, basta kabayad na sa half sa amount sa lot pwede na mag.house. around 500k na amo nabayad sa lot. what type of housing loan among i.avail ani?

naglibog mn gud ko if purchase of lot ra, unya katong among nabayad, asa mn to makwenta? or house construction, or what.? thanks

[cebu.opportunities]

Diversified na kaayo imong knowledge gyud ani sis,
Makatabang ka namo mag secure ug housing loan sis or buying our dream home? hehe

There's still so much to learn, sir. With a short span of time, naa na sad updates so some may not be applicable na and naa sad daghan madugang.

Yes, makatabang rako. yaw lang kauwaw sulti sa inyo gusto (location,specifications, etc), convenient pra ninyo (property and bank for loan) and others pra ma cater jud imo need and want.

good thread you have here ts... sa amo part, naa mi g.inhouse financing nga lot sa isa ka developer dnhi sa cebu. now, we want to build a house on that lot na. dili rmn strict ang developer, basta kabayad na sa half sa amount sa lot pwede na mag.house. around 500k na amo nabayad sa lot. what type of housing loan among i.avail ani?

naglibog mn gud ko if purchase of lot ra, unya katong among nabayad, asa mn to makwenta? or house construction, or what.? thanks

Thanks.

RE: "we want to build a house on that lot"
--------> house construction. You still need to secure a building permit for that. dayon, murag mangita na sila lain nga property nga i-collateral nimo since approx. 60% of the lot's appraisal value man pwede ma loan basing on the collateral (not to include sa capacity to pay) unya half pmn inyo nabayad sa lot.

pero naay program ang PAG-IBIG for that known as combined loan. in your case, pwede purchase of residential lot and construction.


OnT: Additional for PAG-IBIG

update:
Foreigners can now avail loan sa pag-ibig on condo units.
They just need to be a member of PAG-IBIG and pay the 2 years remittance now known as "savings".

[MAGNETIC.LEVITATION]

Heard from one of my officemates sis. Nga dili daw ma approvan ang imong loan if contractual employee and imong status. Tinuod ni?