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  1. Join Date
    Dec 2006
    Posts
    17,316
    #11
    Bro, ang function sa pagcompute ng loan payment sa Excel is: pmt(0.08/12, 120, 1000000,0,0) to get the monthly payments. Multiply by 120 to get total payment amount.

    This applies to any loan - housing, car, etc.

  2. Join Date
    Dec 2008
    Posts
    462
    #12
    Quote Originally Posted by lsalapare View Post
    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
    Tama si Jut. Compounded yearly dapat ang calculation. Hinde direct na 80%.

  3. Join Date
    Dec 2005
    Posts
    39,162
    #13
    Quote Originally Posted by jut703 View Post
    Bro, total payout for a 10-yr 1M loan at 8% is actually just P1,455,931, with monthly payments of P12k.

    Attachment 28523

    Sana nga bro.- at iyan ang tamang accounting talaga,- Pero iba ang lokal na bangko e....

    Ilalagay nila ang lahat ng tubo sa unahan kaya nga 8% x 10 years kaagad.

    At, idi-divide ng number of months for the monthly amortization.


    Dapat nga base sa declining balance, dahil as you pay, dapat bumababa ang principal -

    Kaso nga hindi e....

    Ang dami ko nang nakatalong taga bangko riyan,-dahil sa loan sa kotse...

    Sabi nila 5% annual so for a loan of 5 years 25% kaagad ang tubo nila sa P1M so monthly amortization ay = 1.25 xP1M/60 = P20.8K

    Pero sa bahay,- wala akong experience...

    Tignan na lang natin ang makukuhang deal sa bangko niya... Not here to argue on the computation,- just based on my previous car loan experience....


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

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



  4. Join Date
    Dec 2005
    Posts
    39,162
    #14
    Quote Originally Posted by keithdb View Post
    Tama si Jut. Compounded yearly dapat ang calculation. Hinde direct na 80%.
    Alam rin namin iyan bro.,- dapat nga compounded monthly para aligned dahil iyon ang iyong amortization period,- at based on declining balance.

    Iyan ang fair na computation ng amortization.

    Kahit sinong accountant (sorry ginginir ako ),- alam iyan na tamang computation.

    Pero, sabi ko nga, base sa aking limited experience ng car loan,- iba ang computation ng local banks natin...

    Lahat ng tubo,- sa unahan and then divide it by the number of amortization periods, in which case number of months.



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

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

  5. Join Date
    Oct 2002
    Posts
    40,038
    #15
    Quote Originally Posted by CVT View Post



    Sana nga bro.- at iyan ang tamang accounting talaga,- Pero iba ang lokal na bangko e....

    Ilalagay nila ang lahat ng tubo sa unahan kaya nga 8% x 10 years kaagad.

    At, idi-divide ng number of months for the monthly amortization.


    Dapat nga base sa declining balance, dahil as you pay, dapat bumababa ang principal -

    Kaso nga hindi e....

    Ang dami ko nang nakatalong taga bangko riyan,-dahil sa loan sa kotse...

    Sabi nila 5% annual so for a loan of 5 years 25% kaagad ang tubo nila sa P1M so monthly amortization ay = 1.25 xP1M/60 = P20.8K

    Pero sa bahay,- wala akong experience...

    Tignan na lang natin ang makukuhang deal sa bangko niya... Not here to argue on the computation,- just based on my previous car loan experience....


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

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


    I think you're right. Yun schedule na ibibigay ng bank sobrang laki ng percentage ng interest rate compare sa hulog mo for, it's not as straight computation Na divide lang Yun interest amount Sa duration ng loan

  6. Join Date
    Dec 2005
    Posts
    39,162
    #16
    Quote Originally Posted by jut703 View Post
    Bro, total payout for a 10-yr 1M loan at 8% is actually just P1,455,931, with monthly payments of P12k.

    Attachment 28523
    Bro.jut pasensiya ka na ha?...

    Labs ko lang talaga ang engg economy na subject namin sa college dahil inspired ako ng titser na si mrs. tapia.... totoo,- mrs. tapia siya... Pero the best talaga!!!

    Heto ang basis ng computation ng financial calculator/ excel file....

    Amortization = P*(1+i)^n/ [ ((1+i)^n-1)/i) ]

    where i=8%/12 - since amortization is monthly and 8% is effective annual interest rate
    n - number of amortization period is 120
    P- principal

    A=1,000,000*(1+0.0067)^120 / [((1+.0067)^120-1)/0.0067)]

    = P12132 per month

    Iyan ang tamang computation...

    Kaso nga swapang ang mga bangko...


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

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


  7. Join Date
    Dec 2006
    Posts
    17,316
    #17
    For my car plan before with my old company, our rate was 6.5% for 6 years (RCBC), tapos 985k ang loan amount. Ang equivalent monthly deductible is 16,557, which is the same as what I computed.

    Ewan ko lang kung ano magiging loan terms dun sa property na kinuha ko, I asked for the computation already (6.75% for 5 years), and tugma naman dun sa computation ko. I dunno how it'll be once I actually avail of the loan in 3 years' time.

  8. Join Date
    Oct 2002
    Posts
    3,754
    #18
    pag na iisip ko talaga grabe mag patubo ang bangko pero pag ikaw nag pasok ng pera sa kanila sobrang liit ng interest..Once lang ako nag car loan. ngayon talaga I avoid na umutang mag tiis nalang mag ipon

  9. Join Date
    Oct 2002
    Posts
    17,340
    #19
    Keep in mind that consumer loans (housing and auto) utilize "add-on rate" and you actually pay more for interest during the first few years of your loan, and principal gets chunked off more towards the end of the loan life. There's an amortization factor table for that and you can ask your account officer for guidance on this.

    As for the loan; ask your banker for a computation with rates fixed for 1 year to 5 years. I would recommend you lock in your interest rate for 3-5 years if possible. The one year rate offering of some banks may be low then they might hit you back when the rate is adjusted the next year and now, projections of interest rates are upwards so now is the best time to lock in.

  10. Join Date
    Dec 2005
    Posts
    39,162
    #20


    Went to this website bpi car and auto loans and confirmed that they have a different way of computing for the monthly amortization

    Home

    For car loans,- they would multiply the %interest by the number of years and comprehend this number upfront with the principal and divide this by the number of months (amortization period)... Expensive!

    For housing loans,- they would use the financial calculator /excel file ; while using the first year interest rate - for the sake of computation... There will be a difference if you lock it for x number of years,- but not that significant..... More or less fair,- but then again,- banks would charge you so much for the processing fees, I think..... They have to make money somewhere.

    My thinking for the difference in the schemes and the computations ,- the car moves and depreciates,- while the property is steadfast and it appreciates,- just in case you defaulted on your payment - so do not make this happen.... Bottomline,- it is the bank exposure that counts....

    You can check it out,- significant difference in the numbers....

    Interesting!


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

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


    Last edited by CVT; September 2nd, 2015 at 01:00 PM.

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