Housing Loans

[jut703]

Anyone here availed of a housing loan recently? What rates did you get?

Specifically, I'm looking for a 5 or 10 year loan. I've made preliminary inquiries on some banks, and the rates seem quite high. Have not haggled yet or given them my COE and income statements yet.

BPI has the lowest 1-year rate at 5.25%, 5-year rate at 6.8%, and 10-year rate at 7.5%. PSBank so far is the highest at 6% for 1 year, 6.88% for 5 years, and 8.5% for 10 years.

Any tips on how and where to get the best deals will be greatly appreciated. Thanks!

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[dreamur]

What about BDO bro? I consolidated my loans with them for better rate.

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[chronicle]

Try security bank. Forgot my term pero first x years is only 5 percent.

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[jut703]

What about BDO bro? I consolidated my loans with them for better rate.

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BDO gave me 5.50% for 1 year, 6.88% for 5 years.

May I know what rate you got?

Try security bank. Forgot my term pero first x years is only 5 percent.

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Thanks! That's a pretty low rate.

If you guys don't mind sharing - how did you haggle for lower rates?

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[_Cathy_]

Didn't you just buy a condo? And now a house? WOW

I'm just wondering why people are going to banks for loans? Do they give better rates? During my parents time it was SSS or GSIS for housing loans, and I think it can go as long as 20 or 25 years.

[jut703]

Didn't you just buy a condo? And now a house? WOW

I'm just wondering why people are going to banks for loans? Do they give better rates? During my parents time it was SSS or GSIS for housing loans, and I think it can go as long as 20 or 25 years.

No this loan is for my condo. I'm done paying the downpayment and I'm loaning the balance.

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[mda]

Mukhang may nahanap ka nang pwesto sa New Manila a hehehe

edit: Oops, saw the post above.

[dreamur]

BDO gave me 5.50% for 1 year, 6.88% for 5 years.

May I know what rate you got?Thanks! That's a pretty low rate.

If you guys don't mind sharing - how did you haggle for lower rates?

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I think they offered me 5.25% but that was like 2 years ago. If you are a depositor, you can leverage the relationship to get a competitive rate. You can tell them how much the other banks are offering and they can try to match it.

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[Wh1stl3r]

Aside from placing on paper all the other associated expenses with the loan, I always ask the bank for a complete schedule of payments for the duration of the loan. So there will be no surprises. I can get the total cost of the loan from there. A lot of banks boast lower rates and free this, free that, but it turns out they charge quite a bit more for other associated expenses.

[eLzyj.om1985]

I think they offered me 5.25% but that was like 2 years ago. If you are a depositor, you can leverage the relationship to get a competitive rate. You can tell them how much the other banks are offering and they can try to match it.

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Hi,
Newbie here.Am quite lost.Hopefully ma enlightened po.Regarding PAG IBIG construction loan,do i really need to fill up that i have an existing credit card,its outstanding balance and monthly amortization?Currently working abroad po.Am just concern bka hindi nila i approve pag malaki pa ang credit balance.Hoping for an answer.Thank you.

[chronicle]

*jut.
Yung condo mo ba is tied up sa isang bank? Like bpi is to amaia etc.

----
Edit on my previous post. 5.5 percent pala ang sa akin for x years. Got that loan during a promo.

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[jut703]

*jut.
Yung condo mo ba is tied up sa isang bank? Like bpi is to amaia etc.

----
Edit on my previous post. 5.5 percent pala ang sa akin for x years. Got that loan during a promo.

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No specific bank naman. I'll go with whichever gives me the lowest rate.

How many years yung 5.5? Mura pa rin yan compared to what I've been offered.

I'm also wondering if it's better to get 1-year rates and then just recompute every year, or to get locked in rates for the entire 5 or 10 year duration of the loan.

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[chronicle]

No specific bank naman. I'll go with whichever gives me the lowest rate.

How many years yung 5.5? Mura pa rin yan compared to what I've been offered.

I'm also wondering if it's better to get 1-year rates and then just recompute every year, or to get locked in rates for the entire 5 or 10 year duration of the loan.

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Fix 3 years tapos recompute after.


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[jut703]

Fix 3 years tapos recompute after.


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Thanks. Did they explain to you how the recomputation process works?

How much of the loan amount remains after 3 years (put differently, what percentage goes of that first 3 years goes into paying the principal and what goes to paying the 5.25% interest?)

And since they've locked you in for the entire loan duration despite only giving the rate for the first 3 years, can't they simply give you an exorbitantly higher rate for the remaining x years of your loan?

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[chronicle]

Thanks. Did they explain to you how the recomputation process works?

How much of the loan amount remains after 3 years (put differently, what percentage goes of that first 3 years goes into paying the principal and what goes to paying the 5.25% interest?)

And since they've locked you in for the entire loan duration despite only giving the rate for the first 3 years, can't they simply give you an exorbitantly higher rate for the remaining x years of your loan?

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Yes. Rates after is dependent on the current actual rate of the bank that year. Could be higher or lower. But most likely higher since baseline is rather low.

They will release a schedule of your remaining balance. So tuloy tuloy lang ang bawas every year from the loan amount.

Kaya ko natanong kung ka tie up ba yung condo mo sa isang bank is dahil typical, loanable amount is around 60 to 80 percent lang if not tied up. So maglalabas ka pa.




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[EQAddict]

No specific bank naman. I'll go with whichever gives me the lowest rate.

How many years yung 5.5? Mura pa rin yan compared to what I've been offered.

I'm also wondering if it's better to get 1-year rates and then just recompute every year, or to get locked in rates for the entire 5 or 10 year duration of the loan.

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I always get 1 year rates. The banks make a killing on the fixed term interest rates.

Go with your current bank and just say you want a preferred rate. Otherwise you move your business and your deposits to a more competitive bank. They will give in.



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[montro]

Try Robinsons bank sir its quite good interest rate for housing loan.

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[Sarsi]

Subscribing to this...

I will meet somebody from Filinvest in a while for a possible purchase of a condo unit, primarily for AirBnB.

Also, looking at the possibility of building a house in our property in Malolos, live there and rent out our current place here in Scout area.

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[Sarsi]

Subscribing to this...

I will meet somebody from Filinvest in a while for a possible purchase of a condo unit, primarily for AirBnB.

Also, looking at the possibility of building a house in our property in Malolos, live there and rent out our current place here in Scout area.

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Made the reservation for a Robinsons' project in Greenhills. A new home by next year.

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[cast_no_shadow]

Made the reservation for a Robinsons' project in Greenhills. A new home by next year.

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Chimes??


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