Housing loans

**tong2moca** · August 20th, 2010 11:09 PM

kamusta po? magtatanong sa mga eksperto.. meron ba sa inyong may experience sa housing loan with banks? for construction na po akse ang bahay namen sa isang subdivision.. ngayon, ang laki ng monthly amortization ko dahil right now, sa developer pa rin kame nagbabayad dahil kelangan daw po bago mai-apply sa banko ay fully constructed muna ang bahay.. tama po ba ang info na ito? hindi ba talaga puedeng magapply ng hosuing loan sa banko hanggat hindi fully constructed ang bahay? atleast po kase sa banko, mas maliit ang bayarin.. salamat!!!

**tidus1203** · August 20th, 2010 11:25 PM

Pwede! Sino niloloko nila? You can even buy an empty lot using a bank loan eh...

**Gerbo** · August 20th, 2010 11:46 PM

Parang may mali. What's the point of getting a housing loan from the bank when you already already constructed your home.

**tidus1203** · August 20th, 2010 11:53 PM

Hahaha oo nga naman. If you have finished constructing your home, you are rich enough to construct one without a loan. No need for their help then!

**coiter** · August 21st, 2010 12:12 AM

linawin mo sa developer. baka mali lang pagkasabi. as far as i know, may certain % lang ang nirerequire ng banks. let's say as advertised, the bank would say that their housing loan would cover up to 80% of the cost of construction. they would require you na 20% of the house ay completed na bago nila ibigay ang 1st tranche ng loan. kung baga yun ang down payment mo just like a car loan.

inquire mo sa banks and check who offers the biggest loanable amount (alam ko pagibig lang ang hanggang 90%) and lowest interest rate. hth

**vito corleone** · August 23rd, 2010 01:42 AM

mali yung impormasyon na nakuha mo na pwede ka lang mangutang sa bangko kung tapos na bahay mo. . .tanong ka ulit sa developer at linawin mo

**jeje23** · August 23rd, 2010 03:23 AM

Yes, based from actual experience, hindi kailangan matapos muna construction ng house bago makapag apply ng loan. Actually one of the bank's requirements is a bill of quantity of the house from the contractor and a building permit. The bank will be basing their approved loan amount on the construction cost and with the borrowers credentials. The maximum that a bank can loan is 80% as to what Chinabank said to me. For sure wala naman sigurong mangungutang ng 100% ng house cost, masyado naman yatang walang kahirap hirap yun sa part ng borrower.HTH

**Galactus** · August 23rd, 2010 09:17 AM

Originally Posted by coiter

linawin mo sa developer. baka mali lang pagkasabi. as far as i know, may certain % lang ang nirerequire ng banks. let's say as advertised, the bank would say that their housing loan would cover up to 80% of the cost of construction. they would require you na 20% of the house ay completed na bago nila ibigay ang 1st tranche ng loan. kung baga yun ang down payment mo just like a car loan.

inquire mo sa banks and check who offers the biggest loanable amount (alam ko pagibig lang ang hanggang 90%) and lowest interest rate. hth

Er, slight correction lang po on the above.

Banks normally require na may equity ang borrower, say 20 to 30%. For home construction, they can loan up to 70 to 80%, even if no actual construction has been done. I'm not that sure if some banks do offer up to 100% of your desired loan amount. But they do release the money in tranches, depending on the progress of construction.

**oliver1013** · August 23rd, 2010 10:19 AM

Sino bang developer yan:secret:

**am_magsombol** · August 27th, 2010 12:50 AM

Naku ganyan din sabi sa akin ng developer namin kanina, Filinvest. Kelangan muna daw constructed ang bahay para makapagloan sa bangko (BDO). Hangga't di pa daw nagagawa e sa kanila muna daw magbabayad (In house). Nagtataka nga rin ako e.

Pre-qualified pa man din ako thru bank kanina lang. Matanong nga ang BDO. Bangko ba ang makakasagot nun? Salamat!