How to increase housing loan approval?

[Lew_Alcindor]

malaki na din ang pwedeng i loan sa Pag-Ibig.. mas maganda sa pag-ibig hindi sila ganon ka strict sa payments gaya nang mga banks.. mababa na din ang interest rates nila.

yup! make sure lang na updated ka sa payments at updated din ang records nila (hehehe)

yung arrears at penalties kasi minsan ang problema sa pagibig. pero halos bihira sila mag-repossess ng bahay unless talagang pinabayaan na ang pagbabayad sa loan.

[carwhacko]

If you have a history of Credit card issues or bouncing check issues then it will take 9 years to expunge your record.

As mentioned before car loans are vastly different from housing loans. The difficulty in reselling a confiscated car vs an idle property are orders of magnitude apart. And housing loans are more important to you in the long run than a car loan.

Always protect your credit. Cars, motorcycles, credit cards, etc. Every strike, missed payment etc goes against your record and it all adds up until you are eventually blacklisted.

Maintain a deposit history and balance with 1 bank so at least you establish a relationship with a potential loan provider.

Try buying property from developers with inhouse financing. They may be a bit more accomodating and generous with credit checking.

Banks are strict. They have credit officers who report to risk management directors who rely on a COMMON database of defaulters. If you are denied a HOUSING loan in BDO, most likely you will be denied elsewhere. I cant say this enough but to those who are just starting out....your credit is equivalent to your financial reputation. Have to protect it with all you've got.







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Well said!


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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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[EQAddict]

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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So true. So very true. Am in the same dilemna now. Pay off an upcoming balloon payment with my existing cash or borrow money from the bank for some of it and save the cash for when the stock market crashes.

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[ray_noel]

So true. So very true. Am in the same dilemna now. Pay off an upcoming balloon payment with my existing cash or borrow money from the bank for some of it and save the cash for when the stock market crashes.

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pababa na stocks... pero not sure saan safe pumulot... baka mas bababa pa... nag hintay din ako sa dip, para maka pag invest... ipit ako sa shlph at 60, kasi 53 sha ngayon...

share sir if you have futher info on psei...


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[papi smith]

I'm also thinking, when and where is the projected crash site, 6,900 or lower?

FOMO, always hits most of us .

[jut703]

Worst case is 6200. But anything below 7000 is already a pretty good buying point if you're holding for the long term.

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[BlancNoir]

We should see a bounce tomorrow.

First major support level is 6,900 to 7,000.

If we break it, the next one is around 6,500.

If we break it again, last major support is at 6,000 to 6,200.

If we still manage to break it, see you around 5,200.