Housing Loan

[fallenFate]

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Hi TS! Naa ko inquiry.

I'm currently paying a lot (worth 400k+) thru in-house financing sa developer. And target development completion kay 5 years from now. Plano unta nako kay i-pagibig ang house construction after that. Mga pila kaha pwede ma-loan ana sa pag-ibig? Combined gross monthly income namo sa akong partner as of date kay 60K. Pag-ibig member mi for 6 years. Maka-loan ra ba kaha mi ug, say 1.5M? Thanks!

[cebu.opportunities]

@xoids,
di ko sure if unsa meaning anang frontend fees. processing fee siguro or bank charges. bank charges siguro na siya ky sa 1M, approx 30k man imu bayran pra sa bank charges that includes appraisal fee, ipa-register nga i-mortgage siya, etc. 30k is 3% of 1M.
since mag vary man from one bank to another and sa ila dapat i-process and kana waived na daan, so mao nang 3-5% pero possible pa gani lesser pero if i-sum up tanan, moabot ra gihapon in-ana nga range. if frontend is also known as bank charges, then yes sir, naa gihapon na sa BPI pero lahi lang siguro ilang tawag ana. di sad ko familiar sa frontend... bank charges man common tawag sa uban banks. ipa-clarify nlng sa unionbank if what is being paid sa frontend fee/s.

@fallenFate,
capacity to pay, yes, pwede mo sa 1.5M but sa collateral nga part, I don't know. 90% of the appraised value mana sa i-collateral if sa pag-ibig.... suwayi lang sa pag-ibig jud mismo ky sila man mo assess if eligible mo for the loan. pasensiya

[fallenFate]

okies! thanks TS!

[Arya_NotStark]

kinsay nakasuway or naay info about home improvement loan sa pag-ibig? i plan to combine it with my housing loan kay bare paman ang unit gud ako gi-planohan... kung apil na sa housing loan kay additional requirement ang itemized scope of work and bill of materials signed by a civil engineer or architect...

kasuway namo ani? so nibayad mo sa civil engr/architect just for this document? and dapat sila pud mutrabaho sa imong home improvement

thanks daan sa info... and thanks TS for this thread. i will contribute inputs as soon as ma successful ko aning akong plano nga mag housing loan + home improvement.

[confabulousdudemike]

subscribing...

[Arya_NotStark]

sa sige nako research ani housing loan naabot ko dire:

Find The Best Financing With Our Home Loan Interest Rates Comparison Chart

i don't know how to copy the lengthy chart with the interest comparisons kada bank... check ra gud ninyo... i'll try to take a screen cap of the chart kay naay samok nga pop-up ang site...

[cebu.opportunities]

more likely mo increase nasad ang rates

[cebu.opportunities]

Situation:
Buyer bought a property from a private/individual seller wherein the said property has been currently mortgaged and you want to apply a housing loan from a different bank.


Steps to do:
1. Apply for Refinancing Loan Take-out to the bank of your choice.
Once initially approved, they will send to the bank (where the property is currently mortgaged) the LOG (Letter of Guarantee).
2. If the current bank acknowledges the LOG of the second bank, request in writing to allow you (Buyer if with notarized Deed of Absolute Sale) to borrow the Land Title to Transfer the ownership from Seller to Buyer's name.
3. Pay the necessary taxes and fees.
Some of which are to be shouldered by the Seller pero depende rpud sa inyo sabot.
4. Once the Title has already been transferred, return it to the bank where you get it from.
Update both banks as well as the Seller ky basi kailangan iya signatures.
While processing, mag-sige pa gihapon bayad sa amortization until mabayran na gyud sa imo bank of choice ang previous bank.
You may pay some necessary fees sa previous bank then need pa sad mag pay og bank charges sa bank nga mo take-out sa loan.

^ In what case man preferably ipa-loan take-out ang loan to another bank? nga hassle man kaayo...
- when the interest rates sa previous bank are very high and bati pagkapili ang term and years of fixing. i-weigh sa daan ang costs so that you will see the significant difference sa values.
- when you already paid something to the Seller then ikaw pa sad mo bayad sa housing loan and it's still under his/her name both the property and the loan. In this scenario, sa mata sa bank, si Seller pa gihapon ang owner and you cannot borrow/get the land title unless ma pay off na ang loan. If you don't have enough funds to pay off everything Spot Cash, then another bank can help through their LOG if legible ka pra sa 2nd bank.

PS:
If you happen to have similar situation as above, i-try lang ask if doable ba ky ny uban banks mo likay ana. hasolan na siguro.

[chakaliz88]

subscribing...

[confabulousdudemike]

nag ask ko sa pag ibig about sa housing loan,wala nay seminar. just a checklist of requirements.
anyone knows pila ma gasto sa mga permit (building permit, etc) og mga blueprints sa balay?
kay mag pa tukod na jud mi sa among payag early next yr...