Housing Loans

**jut703** · April 17th, 2018 04:06 PM

Anyone here availed of a housing loan recently? What rates did you get?

Specifically, I'm looking for a 5 or 10 year loan. I've made preliminary inquiries on some banks, and the rates seem quite high. Have not haggled yet or given them my COE and income statements yet.

BPI has the lowest 1-year rate at 5.25%, 5-year rate at 6.8%, and 10-year rate at 7.5%. PSBank so far is the highest at 6% for 1 year, 6.88% for 5 years, and 8.5% for 10 years.

Any tips on how and where to get the best deals will be greatly appreciated. Thanks!

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**dreamur** · April 17th, 2018 04:15 PM

What about BDO bro? I consolidated my loans with them for better rate.

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**chronicle** · April 17th, 2018 04:25 PM

Try security bank. Forgot my term pero first x years is only 5 percent.

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**jut703** · April 17th, 2018 07:44 PM

Originally Posted by dreamur

What about BDO bro? I consolidated my loans with them for better rate.

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BDO gave me 5.50% for 1 year, 6.88% for 5 years.

May I know what rate you got?

Originally Posted by chronicle

Try security bank. Forgot my term pero first x years is only 5 percent.

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Thanks! That's a pretty low rate.

If you guys don't mind sharing - how did you haggle for lower rates?

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**_Cathy_** · April 17th, 2018 07:48 PM

Didn't you just buy a condo? And now a house? WOW

I'm just wondering why people are going to banks for loans? Do they give better rates? During my parents time it was SSS or GSIS for housing loans, and I think it can go as long as 20 or 25 years.

**jut703** · April 17th, 2018 07:52 PM

Originally Posted by _Cathy_

Didn't you just buy a condo? And now a house? WOW

I'm just wondering why people are going to banks for loans? Do they give better rates? During my parents time it was SSS or GSIS for housing loans, and I think it can go as long as 20 or 25 years.

No this loan is for my condo. I'm done paying the downpayment and I'm loaning the balance.

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**mda** · April 17th, 2018 07:53 PM

Mukhang may nahanap ka nang pwesto sa New Manila a hehehe

edit: Oops, saw the post above.

**chronicle** · April 17th, 2018 07:58 PM

*jut.
Yung condo mo ba is tied up sa isang bank? Like bpi is to amaia etc.

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Edit on my previous post. 5.5 percent pala ang sa akin for x years. Got that loan during a promo.

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**jut703** · April 17th, 2018 08:01 PM

Originally Posted by chronicle

*jut.
Yung condo mo ba is tied up sa isang bank? Like bpi is to amaia etc.

----
Edit on my previous post. 5.5 percent pala ang sa akin for x years. Got that loan during a promo.

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No specific bank naman. I'll go with whichever gives me the lowest rate.

How many years yung 5.5? Mura pa rin yan compared to what I've been offered.

I'm also wondering if it's better to get 1-year rates and then just recompute every year, or to get locked in rates for the entire 5 or 10 year duration of the loan.

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**dreamur** · April 17th, 2018 08:02 PM

Originally Posted by jut703

BDO gave me 5.50% for 1 year, 6.88% for 5 years.

May I know what rate you got?Thanks! That's a pretty low rate.

If you guys don't mind sharing - how did you haggle for lower rates?

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I think they offered me 5.25% but that was like 2 years ago. If you are a depositor, you can leverage the relationship to get a competitive rate. You can tell them how much the other banks are offering and they can try to match it.

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