Housing loans

**_Qwerty_** · September 5th, 2011 10:26 AM

pag nagkataon sabi si Kabayan dyan.. hindi pa lang nadadamay pero dikit yan kay Delfin Lee

**badsekktor** · September 5th, 2011 04:40 PM

hay naku PAG-IBIG nga naman!

meron nga ako kahit hindi ko kailangan.... inaalala ko lang sa mga contributions ko baka mamaya pagdating ng retirement ko eh sandamakmak ang utang ko ng hindi ko alam.......

**andretti** · September 5th, 2011 04:57 PM

Tapos pahirapan pang kumuha ng housing loan sa Pag ibig ang daming requirements...
AFAIK as i know mahaba na din ang mga terms ng banks ngayon, and very flexible ang terms nila.

I have a housing loan with Chinabank, after inquiring at all leading banks, sila ang may pinakababa na rates. HTH

**samcoy** · November 25th, 2011 01:09 AM

Meron ba dito may experience with BPI housing loan? I applied one for purchase of a lot. Approve na daw yung application ko base sa branch manager. I would like to know what the next steps are para di naman ako aanga-anga. May main concern is security. Ang usapan namin kasi ng seller through the agent is we will pay 40% down payment and the rest through the bank proceeds. What are next steps? Sound advice are also appreciated.

Also, I'm confident with the bank that they'll check everything like whether the title is clean. Is it advisable that I'll do my own due diligence or it's just a waste of time?

**vinj** · November 25th, 2011 09:58 AM

Originally Posted by samcoy

Meron ba dito may experience with BPI housing loan? I applied one for purchase of a lot. Approve na daw yung application ko base sa branch manager. I would like to know what the next steps are para di naman ako aanga-anga. May main concern is security. Ang usapan namin kasi ng seller through the agent is we will pay 40% down payment and the rest through the bank proceeds. What are next steps? Sound advice are also appreciated.

Also, I'm confident with the bank that they'll check everything like whether the title is clean. Is it advisable that I'll do my own due diligence or it's just a waste of time?

Has the bank done an appraisal and plotting of your property, and a verification of the land titles with the RD? If its all good to go, the bank will issue a bank guarantee to the seller in exchange for the title and papers which will transferred to your name and the mortgage of the Bank will be annotated. Upon annotation, that's when the bank will do the full settlement to the seller.

As long as its a reputable bank, they would always do the due diligence on the papers and property mapping however you may also want to get a geodetic engineer or independent appraiser to plot the lot for you to make sure the technical descriptions on the title all match up so you can avoid any problems of having to correct the title and other documents later on.

**samcoy** · November 26th, 2011 04:38 PM

Thanks vinj. The manager and broker are now suggesting to proceed with Deed of Sale even if we just sign the guarantee but that's still due for the signature of bank's VP. I think I have to insist that I'll wait for bank guarantee before we proceed with the deed of sale.

**samcoy** · November 26th, 2011 08:53 PM

*vinj pag na-issue na issue na yung bank guarantee for signature of the buyer and seller, does it means it's good to go? We can to proceed to deed of sale? Babalik pa kasi yung bank guarantee sa Bpi head office for VPs signature. After two weeks babalik sa amin with signature na.

**vinj** · November 28th, 2011 09:48 AM

Originally Posted by samcoy

*vinj pag na-issue na issue na yung bank guarantee for signature of the buyer and seller, does it means it's good to go? We can to proceed to deed of sale? Babalik pa kasi yung bank guarantee sa Bpi head office for VPs signature. After two weeks babalik sa amin with signature na.

Yup, as long as all parties sign the conforme to the bank guarantee then its good to go and the bank is bound to pay the balance to the seller; just take the time to read all the terms and conditions to the contract and the conditions set by the bank guarantee which have to be met for the payment to be released to the seller.