Housing Loans

[Egan101]

Security Bank offers 6.75% on home loans with fixing period of 5 years. Even lower at 6.25% with fixing period of 1-3 years.


Sent from my iPhone using Tapatalk

[misseksaherada]

To be fair, loans aren't necessarily bad. Leverage is good if it helps you make more money than the interest you pay.

The interest on your home loan is surely lower than the capital appreciation of your home. If you have a 6% interest and your property appreciates at 10% per year, then you've got a good deal.

On the car loan - personally I'm not a fan of loaning cars and would prefer to get a secondhand car in cash than loan a brand new one. But even then, having a car has its benefits. If it makes you more productive by cutting your commute time vs public transpo, if it allows you to enjoy life more because you have more freedom to go on trips - then it isn't so bad. Of course, this assumes you have the cash flow to support the higher costs of owning a car (and it's way more than just the monthly payments).

Sent from my SM-N970F using Tapatalk

Yes po Sir Juts.. Mas sulet po sakin yung pag loan ng car.. Kahit nagbabayad ng loan.. yung commute time ko cut in half minsan pa nga more than half.. Kung 2 hours ako nagku commute dati pagpapasok kaya ng 30 to 45mins na lang at lalo na po ang pauwi na 3-4 hours naging 1 hour na lang..
Grabe hirap mag abang ng masasakyan at kung sa pila naman grabe din haba..

Sent from my CPH1907 using Tapatalk

[jut703]

Yes po Sir Juts.. Mas sulet po sakin yung pag loan ng car.. Kahit nagbabayad ng loan.. yung commute time ko cut in half minsan pa nga more than half.. Kung 2 hours ako nagku commute dati pagpapasok kaya ng 30 to 45mins na lang at lalo na po ang pauwi na 3-4 hours naging 1 hour na lang..
Grabe hirap mag abang ng masasakyan at kung sa pila naman grabe din haba..

Sent from my CPH1907 using Tapatalk

Yes that's the usual reason for most first time car buyers. What sets apart those who are able to finish loans vs those who get their cars repossessed is the stability of their income, and more importantly, how much of their income goes to the car payments.

The general rule is your loan payments should be a maximum of 40% of your net income. So if you have a 20k/monthly car loan and 30k housing loan, you should have a net income of 125k/month.

Sent from my SM-N970F using Tapatalk

[misseksaherada]

Yes that's the usual reason for most first time car buyers. What sets apart those who are able to finish loans vs those who get their cars repossessed is the stability of their income, and more importantly, how much of their income goes to the car payments.

The general rule is your loan payments should be a maximum of 40% of your net income. So if you have a 20k/monthly car loan and 30k housing loan, you should have a net income of 125k/month.

Sent from my SM-N970F using Tapatalk

Ay hindi naman po.. 17k lang po autoloan ko 3yrs lang.. Yung housing loan ko 10k lang po yun kaso 10yrs to pay then 4.8 years na lang remaining (na dapat nabayaran ko na in full kung di ko lang na 50% DP sa kotse).. Lote lang po kasi yun walang bahay.. Investment ko lang..

Sent from my CPH1907 using Tapatalk

[jut703]

Ay hindi naman po.. 17k lang po autoloan ko 3yrs lang.. Yung housing loan ko 10k lang po yun kaso 10yrs to pay then 4.8 years na lang remaining (na dapat nabayaran ko na in full kung di ko lang na 50% DP sa kotse).. Lote lang po kasi yun walang bahay.. Investment ko lang..

Sent from my CPH1907 using Tapatalk

Oh those numbers were just arbitrary, just as an example. I'm sure you have your finances well sorted out.

The fact that you went with a 50% DP car loan with a shorter 3-year term means you aren't pushing beyond your means. Also the fact that you already have land is a big step ahead of most Filipinos already.

Sent from my SM-N970F using Tapatalk

[misseksaherada]

Oh those numbers were just arbitrary, just as an example. I'm sure you have your finances well sorted out.

The fact that you went with a 50% DP car loan with a shorter 3-year term means you aren't pushing beyond your means. Also the fact that you already have land is a big step ahead of most Filipinos already.

Sent from my SM-N970F using Tapatalk

Thank you po Sir Juts.. Basta po maging healthy lang po ang buong family namin at tuloy lang cash flow.. Sana nga matapos ko ang loan successfully.. It will be my milestone din. [emoji4] Ang sarap sa feeling..

Sent from my CPH1907 using Tapatalk

[yubby24]

Asking for a friend.

Anyone here who knows a friend/relative that has a property in Green Woods in Pasig that is open for sale thru pag-ibig?

[xwangbu]

Anyone who recently took out or applied a housing loan?