Housing Loans

[Sebastian Bach]

Hi. BDO offered me 6.88% fixed for 5 yrs. Ok na ako dun. Ang problema 6 months lang validity ng approval ng loan. Dahil sa red tape ng BIR and/or kapabayaan ng developer, inabutan na ng expiry yun transfer ng title saken. And now, BDO need to re-process yung loan with the their prevailing interest of 8.00% fixed for 5 yrs.
Any tips on how to deal with the bank? How should I ask for the manager and how should I interact with them.

Sent from my ASUS_Z00AD using Tapatalk

Actually this happened to me delayed din ung transfer ng title. But according sa letter they took accountability for it and said that the problem is between the developer and bank na.

When you got the LOA ba hnd mo pa inistart yung loan? Coz if nag start kna ng amort , safe ka na dapat sa rate. Dba these are usually taken few months before turnover. Anlaki na ng difference ng current market value, damn! [emoji1785]


Sent from my iPhone using Tapatalk

[kaidemitsui]

Actually this happened to me delayed din ung transfer ng title. But according sa letter they took accountability for it and said that the problem is between the developer and bank na.

When you got the LOA ba hnd mo pa inistart yung loan? Coz if nag start kna ng amort , safe ka na dapat sa rate. Dba these are usually taken few months before turnover. Anlaki na ng difference ng current market value, damn! [emoji1785]


Sent from my iPhone using Tapatalk

No. Hindi kasi release ng bank ang loan sa developer gang di na-transfer saken ang title. Binayaran ko lang bank fees except yun insurance kasi nga di ko pa naman malilipatan bahay and di pa ako officially ang may ari.
Try daw ng BDO i-request to give me .5% discount pero they can't promise.

Sent from my ASUS_Z00AD using Tapatalk

[kaidemitsui]

Nag try na aki sa bpi before. Actually nagtataka sila at mababa dw yun offer ni bdo. That was last feb I think. Siguro nga dahil tumaas na yun rates when I inquired.

Anyway, bayad na ko sa bank fees sa bdo. Pati pala yun, mababa daw sabi ng bpi compared sa knila.

Ang di ako sure is, ok pa ba ako magpalit ng bank kung on going na process ng transfer ng title with the bdo bank guarantee before? Ang sabi kasi nila saken, back to zero daw ulit processing pag magpapalit pa ako ng bank.

Sent from my ASUS_Z00AD using Tapatalk

[@alon]

Nagkamali ako before, I fixed the rate for 10 years at 9.75%, that time mababa na yun versus historical rates. After 5 years, around 5-6% na lang ang home loan rates. So, a loss for me. What I did, ni-reconstruct ko loan with other bank. This time 5 years fixed rate at 6%. Buti na lang may promo, I did not have to pay another mortgage fees (around 50k din).

[_Qwerty_]

mababa na din interest rates nang pag-ibig housing..

nung nag loan ako nung 2006 nasa 12% pa...

[papi smith]

Ganun pa rin gagawin ko Boss if I were in your place, but this time factoring the expenses and effort already spent with BDO and developer. But that's just me, cause I hate to be bothered later by the thought if I could have gotten a better deal had I done my research. Some people of course would prefer to decide on ability to pay rather than the best deal.

[kaidemitsui]

Thanks mga sir. Nakikipag negotiate na ko sa bdo about sa new rates nila. Not sure lang kung mapagbibigyan kasi 1st time ko mag loan sa knila.
Since 5 yrs ko lang naman bubunuin yun loan, i think better pa din na fixed rate for 5 yrs ang kunin ko. Subukan ko lang muna na makahingi pa ng discount.
Ok sana sa pagibig. Pede na move in bsta tapos na ang bahay. Kaya lang ayaw pumayag ni developer na may revisions sa construction pag thru pagibig.

Sent from my ASUS_Z00AD using Tapatalk

[jaggerx3]

Hi, my aunt died yesterday.

May housing loan sila na 1 year pa matatapos. Spouses ang named sa loan, pero sa MRI nila sa bank yung aunt ko lang nakapangalan with full coverage ng loan. Question, does it mean na i fully paid na yun ng MRI kahit buhay pa asawa niya? Thank you

Sent from my SM-A507FN using Tapatalk

[dr. d]

Hi, my aunt died yesterday.

May housing loan sila na 1 year pa matatapos. Spouses ang named sa loan, pero sa MRI nila sa bank yung aunt ko lang nakapangalan with full coverage ng loan. Question, does it mean na i fully paid na yun ng MRI kahit buhay pa asawa niya? Thank you

Sent from my SM-A507FN using Tapatalk

you will have to ask the bank, po.

[kaidemitsui]

Hi, my aunt died yesterday.

May housing loan sila na 1 year pa matatapos. Spouses ang named sa loan, pero sa MRI nila sa bank yung aunt ko lang nakapangalan with full coverage ng loan. Question, does it mean na i fully paid na yun ng MRI kahit buhay pa asawa niya? Thank you

Sent from my SM-A507FN using Tapatalk

If sa bank po ang loan, requirement ang life insurance sa same bank for the borrower. So, most likely yes. But bettet to have it verified nga sa bank.

Sent from my ASUS_Z00AD using Tapatalk

[leonleon]

Hi, my aunt died yesterday.

May housing loan sila na 1 year pa matatapos. Spouses ang named sa loan, pero sa MRI nila sa bank yung aunt ko lang nakapangalan with full coverage ng loan. Question, does it mean na i fully paid na yun ng MRI kahit buhay pa asawa niya? Thank you

Sent from my SM-A507FN using Tapatalk

Usually MRI can cover the entire unpaid portion of the loan.

But there may be cases na hindi rin, I really can't say.

So, yes, as others suggest, talk with the bank.

[papi smith]

Interesting situation, just occurred to me that meron kayang insurance na joint account, and/or?

[hinlog]

Interesting situation, just occurred to me that meron kayang insurance na joint account, and/or?

Joint life insurance as I know, kung sino ang maunang mamatay.

Sent from my INE-LX2 using Tapatalk

[jaggerx3]

We already submitted required docs sa bank.
Rural bank sya so third party ang MRI. Which i saw na covered buong amount of loan.
Sa aunt ko lang nakapangalang MRI. Sana mabilis lang ma process

Sent from my SM-A507FN using Tapatalk

[shadow]

Yes, that's the point of MRI.


Sent from my iPhone using Tapatalk

[jut703]

Just realized ako pala TS nito. [emoji23]
An update - I got the first year at 4.75%, but BPI screwed me over with the second year renewal at 8.8%. Took a lot of back and forth with their loans department before I settled with a 6.88% fixed rate for the next 3 years. Not the best rate but got tired of the haggling and transferring my loan to another bank would require paying transfer fees which would offset any lower rate I would've gotten.

Sent from my SM-N970F using Tapatalk

[dr. d]

Just realized ako pala TS nito. [emoji23]
An update - I got the first year at 4.75%, but BPI screwed me over with the second year renewal at 8.8%. Took a lot of back and forth with their loans department before I settled with a 6.88% fixed rate for the next 3 years. Not the best rate but got tired of the haggling and transferring my loan to another bank would require paying transfer fees which would offset any lower rate I would've gotten.

Sent from my SM-N970F using Tapatalk

...i thought the interest rate was pegged for the entire duration of the payment scheme...
perhaps i have been cooped up in the horsepital too long, i have lost track of the rest of the world outside..

[jut703]

...i thought the interest rate was pegged for the entire duration of the payment scheme...
perhaps i have been cooped up in the horsepital too long, i have lost track of the rest of the world outside..

You have the option to do annual repricing or get a longer term (3, 5, 10 yrs) rate which is usually higher.

Sent from my SM-N970F using Tapatalk

[misseksaherada]

Just realized ako pala TS nito. [emoji23]
An update - I got the first year at 4.75%, but BPI screwed me over with the second year renewal at 8.8%. Took a lot of back and forth with their loans department before I settled with a 6.88% fixed rate for the next 3 years. Not the best rate but got tired of the haggling and transferring my loan to another bank would require paying transfer fees which would offset any lower rate I would've gotten.

Sent from my SM-N970F using Tapatalk

Haysssss.. Ako din Sir Juts sa BPI. Nagkamali ako ng decision nung nag loan ako sa BPI 6.5% lang nun ang interest rate, sa Pag-ibig 7.8% and I compared it pa dun sa ibang banks.. Best deal yung sa BPI.. Then there's this 1 checkbox kung annual repricing yung interest rate (I forgot the term) nagtanong naman ako kung para saan yun.. That time hindi pa si Duterte President.. Confident ako na yayaman ang Pilipinas anytime soon at tataas economy.. Sabi ko sa sarili ko baka maging mababa pa sa 6.5% ang interest rate sayang naman..
This year naka-receive ako notification dahil mag 8% na interest rate ko at magbabago ang monthly ammortization ko.. Napa-iling na lang ako sa hope ko na yayaman Pilipinas.. Hahahahahaha [emoji23] [emoji23] [emoji23]
Tuwing anniversary year pwede daw ako magbayad ng isahang malaking bagsak para mabayaran loan ko.. Pero last time nagtanong ako what if bayaran ko na lang loan ko para matapos na.. Magbabayad daw ako ng penalties? So aside from full payment may additional pa ako na babayaran na penalty kasi tatapusin ko na yung loan contract.. Is that true? I don't remember reading that sa contract.. Di na ako nagtanong.. Nag loan na lang ako ng kotse.. Hahahahahaha [emoji23] [emoji23] [emoji23]

Sent from my CPH1907 using Tapatalk

[EQAddict]

You can pay off your BPI housing loan without any penalties. Thats what i did (last year) for one of my purchases.

Just ask for a pay off computation before your due date. It will include the usual interest charges and i think there is a chattel cancellation fee but there are no "penalties."

If you can pay off your loan in full...i strongly suggest you do so. One of the best feelings in the world. Hehe.





Sent from my SM-N975F using Tapatalk