How to increase housing loan approval?

[carwhacko]

Good day everyone! I’m not sure if this is the right category for my inquiry. Recently, my gf’s family is acquiring a property priced at 2.5M. Clean title na siya binebenta lang ng may ari because they already bought a new house. So we tried applying thru BDO and Eastwest Banks. Both applications were denied. Sa BDO combined salary for borrower and co maker was 75k while sa Eastwest was 200k. Sa computation ng both banks both salaries qualify. Sa bdo mga anak nag apply na merong hit sa credit cards way bank but showed certificate of full payment. Sa eastwest the parents were the co makers (both working in the UK)

What are the things na dapat po ba gawin or imaintain to get a housing loan? Just asking for future reference. Parang ang hirap kasi magloan dito sa Pinas eh except for the car loans. What went wrong with both applications? Is it because of the hit sa cards? How about the parents working in the UK with no exisiting loans here and with good salary.


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[chronicle]

Normally, ang qualifications nang housing loans is stable job here (years in a company) and at may matitira pang at least 50 percent sa monthly salary once the ammort kicks in.

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[ice15]

1. Anyone may may negative record sa bank, better take them out of the application.

2. Kung may existing house GF mo, kausapin nyo bank if it can be used as collateral.

3. Sabi mo nasa UK parents nya. Bakit di sila dun magloan then send nila pera dyan sa inyo, just pay the 2.5M in cash.

[shadow]

1. Anyone may may negative record sa bank, better take them out of the application.

2. Kung may existing house GF mo, kausapin nyo bank if it can be used as collateral.

3. Sabi mo nasa UK parents nya. Bakit di sila dun magloan then send nila pera dyan sa inyo, just pay the 2.5M in cash.

What do you mean by no 2? Eh yun bahay na I loan nila ang collateral naman talaga. Bakit kailangan additonal collateral?


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[carwhacko]

What do you mean by no 2? Eh yun bahay na I loan nila ang collateral naman talaga. Bakit kailangan additonal collateral?


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Yup yung iccollateral nila is yung bibilhing bahay since clean title naman. Currently they are renting pala.


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[shadow]

Yup yung iccollateral nila is yung bibilhing bahay since clean title naman. Currently they are renting pala.


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Ganun naman talaga ang loam diba? Kaya nagtataka ako ano ibig sabihin nun I collateral ulit yun existing house Kung meron


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[ice15]

What do you mean by no 2? Eh yun bahay na I loan nila ang collateral naman talaga. Bakit kailangan additonal collateral?


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Para mas mabilis/madali...

Declare mo sa bank yung isa pang house. Then anything goes wrong, alam nung bank na yung makukuha nila syo is bigger than what they're lending.

I know people who did this, sinama nila sa loan nila property ng parents nila. Most of the time, nagugulat na lang ako sa bank approval.

***
Anyway, he can't try this.

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[aioshin]

Try mo thru pag-ibig if member ka. As long as Clean Title ang bahay, pwede sa pag-ibig as long as qualified member ka din.

[carwhacko]

Para mas mabilis/madali...

Declare mo sa bank yung isa pang house. Then anything goes wrong, alam nung bank na yung makukuha nila syo is bigger than what they're lending.

I know people who did this, sinama nila sa loan nila property ng parents nila. Most of the time, nagugulat na lang ako sa bank approval.

***
Anyway, he can't try this.

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Yes no properties ang buong family to begin with. First investment kung sakali.


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[shadow]

Para mas mabilis/madali...

Declare mo sa bank yung isa pang house. Then anything goes wrong, alam nung bank na yung makukuha nila syo is bigger than what they're lending.

I know people who did this, sinama nila sa loan nila property ng parents nila. Most of the time, nagugulat na lang ako sa bank approval.

***
Anyway, he can't try this.

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Declare and bakit kukunin ng bank yun isang property? Eh wala naman connection sa bahay na I-loan mo sa kanila? Kung hinde makabayad sila kukunin ng bank yun naka loan sa ka nila and not yun existing house nila if meron.

Hinde naman 100% nun amount ibibigay ni bank eh meron pa equity sila ilalabas baka 75% lang siguro papautsng ng bank


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[carwhacko]

1. Anyone may may negative record sa bank, better take them out of the application.

2. Kung may existing house GF mo, kausapin nyo bank if it can be used as collateral.

3. Sabi mo nasa UK parents nya. Bakit di sila dun magloan then send nila pera dyan sa inyo, just pay the 2.5M in cash.

Re:
1. So never na ba sila makakapag apply ng housing loan dahil sa previous debt nila sa credit card? Kahit may certificate of full payment?

2. They are renting so ang collateral nila yung bibilhing bahay since clean title naman.

3. Hindi sila makapag loan pa sa ngayon since they have an existing personal loan as well doon na may katagalan pa bago matapos.


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[carwhacko]

Normally, ang qualifications nang housing loans is stable job here (years in a company) and at may matitira pang at least 50 percent sa monthly salary once the ammort kicks in.

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They have a stable job naman. Combined 9-11 years na employed sa mga trabaho nila.


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[chronicle]

They have a stable job naman. Combined 9-11 years na employed sa mga trabaho nila.


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Well. Baka yung hit nga sa credit history. They can try asking the bank bakit denied

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[carwhacko]

Well. Baka yung hit nga sa credit history. They can try asking the bank bakit denied

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They won’t disclose it.


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[chronicle]

They won’t disclose it.


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May existing account ba sila sa bdo or eastwest?

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[jonski]

OT

Kung kaya bang bayaran full cash sa pagbili ng 10M na house and lot ay cash ba or financing pa rin?

[cast_no_shadow]

OT

Kung kaya bang bayaran full cash sa pagbili ng 10M na house and lot ay cash ba or financing pa rin?

Full cash = Paying it full.

no payables left for financing.


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[ray_noel]

OT

Kung kaya bang bayaran full cash sa pagbili ng 10M na house and lot ay cash ba or financing pa rin?

for me, if 10M is allocated to hose and lot then i still have enough left to support my life and family then i will pay it in cash... pero if you can generate income sa 10M mo more than sa interest na babayaran if you plan for financing then it would be better... hope it helps...


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[Sarsi]

Hindi sila kilala or wala sila connection sa banko na pinag apply-yan nila ng loan.

Kung kilala yan, sigurado approve agad yan.

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[carwhacko]

Hindi sila kilala or wala sila connection sa banko na pinag apply-yan nila ng loan.

Kung kilala yan, sigurado approve agad yan.

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Badtrip kahit sa loan eh kelangan ganun padin. Haha! Akala ko basta kumpleto requirements eh okay na.


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