New House

[rey752]

Hi! My family is planning to buy a new house via financing,my question is this: what bank kaya pinaka maliit interest? Currently we have an account sa East West,UCPB,Sterling and Metro.so sana one of those kase we already build a good relationship with them.thanks!

[dreamur]

I think BPI

[n_spinner06]

Try Apply For Housing Loan & Use Our Mortgage Rates Calculator.

You can put in loan amt and yung term and it will show you a list of banks and the interest rates they are charging...really good reference for a quick comparo. for a 1m loan for ex 1yr to pay, best is security bank at 5.25%. Extend it to 10yrs, bpi and security bank will give the lowest at 8%...

[CLAVEL3699]

25yrs pwede ba?

[CVT]

Try Apply For Housing Loan & Use Our Mortgage Rates Calculator.

You can put in loan amt and yung term and it will show you a list of banks and the interest rates they are charging...really good reference for a quick comparo. for a 1m loan for ex 1yr to pay, best is security bank at 5.25%. Extend it to 10yrs, bpi and security bank will give the lowest at 8%...

For a P1M loan for 10 years at 8% annual interest (tinubuan ka na ng 80% at pinaghati na lang for 120 months)

(P1M x (1+10*0.08)) /120 = P15,000 a month.

So, effectively,- you paid P1.8M in 10 years


"The measure of a man is what he does with power" LJIOHF!

27.4K _/_/_/_/_/:burn:_/_/_/_/_/

[jut703]

For a P1M loan for 10 years at 8% annual interest (tinubuan ka na ng 80% at pinaghati na lang for 120 months)

(P1M x (1+10*0.08)) /120 = P15,000 a month.

So, effectively,- you paid P1.8M in 10 years


"The measure of a man is what he does with power" LJIOHF!

27.4K _/_/_/_/_/:burn:_/_/_/_/_/

Bro, total payout for a 10-yr 1M loan at 8% is actually just P1,455,931, with monthly payments of P12k.

[_Cathy_]

Natalo ng Pisay ang St Andrew's sa Math :peace:

[lsalapare]

Most likely yes. Now do the math for those pipz who's got a housing loan payable in 25 - 30 years.

*TS, I'd recommend foreclosed properties. Cheaper in value but of the same quality houses since you mentioned that you need to buy a "new house" but not "brand new house"

For a P1M loan for 10 years at 8% annual interest (tinubuan ka na ng 80% at pinaghati na lang for 120 months)

(P1M x (1+10*0.08)) /120 = P15,000 a month.

So, effectively,- you paid P1.8M in 10 years


"The measure of a man is what he does with power" LJIOHF!

27.4K _/_/_/_/_/:burn:_/_/_/_/_/

- - - - - - - - - - - - - - - - - - - - - -

Most likely yes. Now do the math for those pipz who's got a housing loan payable in 25 - 30 years.

*TS, I'd recommend foreclosed properties. Cheaper in value but of the same quality houses since you mentioned that you need to buy a "new house" but not "brand new house"

For a P1M loan for 10 years at 8% annual interest (tinubuan ka na ng 80% at pinaghati na lang for 120 months)

(P1M x (1+10*0.08)) /120 = P15,000 a month.

So, effectively,- you paid P1.8M in 10 years


"The measure of a man is what he does with power" LJIOHF!

27.4K _/_/_/_/_/:burn:_/_/_/_/_/

[lsalapare]

I beg to disagree with the calculator you used sir.

8% times 10 = 80%
80% of 1 million is 800,000 <=== tubo ng bank
1 million value ng house + tubo ng bank = 1,800,000

#value #error

Assuming na no down payment yang 1 million na loan. hehehe

Bro, total payout for a 10-yr 1M loan at 8% is actually just P1,455,931, with monthly payments of P12k.

- - - - - - - - - - - - - - - - - - - - - -

I beg to disagree with the calculator you used sir.

8% times 10 = 80%
80% of 1 million is 800,000 <=== tubo ng bank
1 million value ng house + tubo ng bank = 1,800,000

#value #error

Assuming na no down payment yang 1 million na loan. hehehe

Bro, total payout for a 10-yr 1M loan at 8% is actually just P1,455,931, with monthly payments of P12k.

[lsalapare]

I stand corrected. It looks like housing loan has different calculations compared to my excel file. Computed my existing housing loan and there's a huge variance when using a simple calculator versus the housing loan calculator.

I beg to disagree with the calculator you used sir.

8% times 10 = 80%
80% of 1 million is 800,000 <=== tubo ng bank
1 million value ng house + tubo ng bank = 1,800,000

#value #error

Assuming na no down payment yang 1 million na loan. hehehe



- - - - - - - - - - - - - - - - - - - - - -

I beg to disagree with the calculator you used sir.

8% times 10 = 80%
80% of 1 million is 800,000 <=== tubo ng bank
1 million value ng house + tubo ng bank = 1,800,000

#value #error

Assuming na no down payment yang 1 million na loan. hehehe

- - - - - - - - - - - - - - - - - - - - - -

I stand corrected. It looks like housing loan has different calculations compared to my excel file. Computed my existing housing loan and there's a huge variance when using a simple calculator versus the housing loan calculator.

I beg to disagree with the calculator you used sir.

8% times 10 = 80%
80% of 1 million is 800,000 <=== tubo ng bank
1 million value ng house + tubo ng bank = 1,800,000

#value #error

Assuming na no down payment yang 1 million na loan. hehehe



- - - - - - - - - - - - - - - - - - - - - -

I beg to disagree with the calculator you used sir.

8% times 10 = 80%
80% of 1 million is 800,000 <=== tubo ng bank
1 million value ng house + tubo ng bank = 1,800,000

#value #error

Assuming na no down payment yang 1 million na loan. hehehe