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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[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]

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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Yes hehe nagtaka din ako. Pero ayun nga to answer his question wala sila ibang property na nakapangalan sakanila.


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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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