Letter of Intent to Marry

[carfrancis]

pahingi naman po ng advice guys.

i'm getting married in a few months and my fiance and i are wondering if we can apply for a housing loan this early. gusto namin maging co-borrowers para considered as shared income kame.

is it possible to submit a "Letter of Intent to Marry" sa bank para payagan na kame agad mag-loan? pano po ba gagawa non?

sana may makasagot sa tanong ko. hehe.. thanks in advance.

[Jun aka Pekto]

if you're male, make sure you use fiancee for your wife to be. Fiance is a guy.

[tinky]

JAP: carfrancis is a female

[Jun aka Pekto]

JAP: carfrancis is a female

Ooops. I figured carfrancis is male vs carfrances which would be female.

Sorry carfrancis. My bad.

[zero]

meron sa google search (letter of intent to marry),
simple letter lang pala, konting modifications na lang sa sample letter.

goodluck and our best wishes na lang.

[Jun aka Pekto]

I thought both parties can be on the mortgage even if they're not married. So long as several months' proof of employment are shown. That would mean each one's income are separate. Once the bank sees that, it shouldn't be too big of a problem if the two parties decide to marry and have a shared income on the loan. I'm not 100% on that though. I'll have to ask my realtor.

[wildthing]

pede naman, yung co-maker yung isa....so one will have the loan and the other a co-maker for the loan. The bank will use the income of both parties for the said housing loan.

[carfrancis]

pede naman, yung co-maker yung isa....so one will have the loan and the other a co-maker for the loan. The bank will use the income of both parties for the said housing loan.

meron kseng iba (like sa pagibig) they only consider spouses, parents or in laws as co-makers. kahit siblings hindi pwede eh.

[carfrancis]

meron sa google search (letter of intent to marry),
simple letter lang pala, konting modifications na lang sa sample letter.

goodluck and our best wishes na lang.

thanks! yup, nakita ko rin sa google kaya lang sa ibang countries ata ang use nila ng letter of intent to marry is kapag pupunta ka sa country ng fiance/fiancee mo. for VISA purposes ata, para they can grant you entry for a few weeks to get married. i wanna know if it can be used for other purposes (i.e. getting a loan) and kung paano ang format.

[IIE]

eto po akin advice: before kami kinasal ng wife ko, yan din ang plan namin. but unfortunately d nangyari, wife ko taga RCBC. kaya nun nakasal kami don pa lang nag work mga plans namin, marami kasi silang hinihingi, at alam natin na ang bangko d agad nagbibigay ng walang kapalit. hehehe!!! better to marry your fiance then be happy, next na lang po yun big dreams nyo.

[shadow]

you can wait until your married sobrang bilis ng procesing na ngayon ng mga loans sa bank.....para wala ka ng iisipin...

[n2knee]

I thought both parties can be on the mortgage even if they're not married. So long as several months' proof of employment are shown. That would mean each one's income are separate. Once the bank sees that, it shouldn't be too big of a problem if the two parties decide to marry and have a shared income on the loan. I'm not 100% on that though. I'll have to ask my realtor.

i think that only applies here in the USA

[Jun aka Pekto]

i think that only applies here in the USA

Ummm. Well. He He. I guess I'm 0 out of 2 today. First, I thought she was a guy. Second, I thought she was here. What a day *me scratches head*....

[CVT]

you can wait until your married sobrang bilis ng procesing na ngayon ng mga loans sa bank.....para wala ka ng iisipin...

Agree here. Mukhang maraming pera ang mga bangko ngayon kaya tulak tulak para may umutang sa kanila.....

Hindi mo ba kayang umutang ng ikaw lang muna?

2301:dog1:

[Galactus]

pede naman, yung co-maker yung isa....so one will have the loan and the other a co-maker for the loan. The bank will use the income of both parties for the said housing loan.

The primary purpose for co-making a loan is for the co-maker to assume liability for the loan payment if the primary borrower defaults and can no longer be located.

Banks or FI's do not take into consideration the income of the co-maker for computing the loanable amount to be granted to the borrower

As many have said, para safe, better na magpakasal muna kayo para ma-consider din ang income ng spouse

[IIE]

madami na kami bro nag offer pakasal ka muna para safe mga loans mo. honeymoon muna and all the expenses ng kasal nyo, to follow na yun dreams nyo, house ang lot, car, kids, etc..... darating ka din jan.... basta hinay-hinay lang

[carfrancis]

thanks sa mga nag-reply!

kaya namin pinlano na ganun kse, iniisip namin na baka better kng nagp-pay kme ng monthly amortization kesa magbayad ng house rent na hindi naman mapupunta samin yung bahay pgkatapos. but it looks like mahirap nga yung ganun, so probably kelangan mag-rent muna kame, and hopefully after a few months, ma-qualify na rin for a housing loan.

thanks again!

[oldblue]

ok na din kumuha ng loan kayo ngaun, para masigurado mo na future nyo as in sigurado hehehe

[shadow]

try to rent muna for a year after ng wedding para ma compute niyo mabuti kung magkano ang expenditures niyo monthly, then that is the time makikita niyo kung kaya niyo mag housing loan, remember around 30% pa and magiging equity niyo sa loan niyo, tapos meron pa kayong babayaran mga taxes, insurances et...

[FullThrottle]

Hi Ms. Carfrancis,

Kung masyadong mabigat para sa inyo yung terms ng loan para sa House & Lot, you might also want to consider the option of getting a loan for a Lot only. That would be a good investment, and at least pag nakaipon kayo in a few years pwede na kayong magpagawa ng bahay, but if for some reason you want to dispose of it (if you suddenly decide to go abroad or you decide to get another property somewhere else) hindi kayo masyadong mahihirapan.

Good luck to both of you!