Housing loans

[tong2moca]

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]

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

[Gerbo]

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

[tidus1203]

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]

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]

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

[Galactus]

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.

[Just]

5years ago, i loaned from a bank, wala silang fixed rate that time so yearly nag iiba int rate ko. my loan was for 10years but after 3years nag full payment na ako kasi every year tumataas, starting int rate that time was 9% nag full payment ako 9.75% na.

[ab_initio]

5years ago, i loaned from a bank, wala silang fixed rate that time so yearly nag iiba int rate ko. my loan was for 10years but after 3years nag full payment na ako kasi every year tumataas, starting int rate that time was 9% nag full payment ako 9.75% na.

Interest should be stated in the contract. They cannot escalate the rate of interest when the contract contains no descalation clause.

[andretti]

I have a yearly fixed rate term with Chinabank with my housing loan and based sa personal experience from the last 4 years of paying, yearly bumababa ang interest rates, from 8.5% , 8%, 7.5% and now kaka receive ko lang ng info from them it will just be 7% on my next term... buti di ko kinagat yung 3year fixed term nila dati na 9.5%...

[Just]

Interest should be stated in the contract. They cannot escalate the rate of interest when the contract contains no descalation clause.

yearly po kasi int rate, so they will base it sa current int rate. suwertihan din pwede bumaba or tumaas. depende talaga.