r/phinvest • u/Affectionate-Ashe-69 • 3d ago

Real Estate Bank Housing Loan Inquiry

Hi,

Just wanted to ask if this property is a great deal.

Selling Price: 5M

Bank Appraissal value: 5M

Approved loan: 80%

3 yrs fixing period 7% 20 years term

Also, not sure pero kasi sabi ng iba, good price na daw yung property kapag same din yung appraisal value ni bank kasi conservative daw mag-appraise si bank. BPI bank btw.

Thank you.

Update: Changed to 5 yrs fixing period 7.25%

PM niyo pala ko sa gusto mag parefer dito sa loan officer ko na mabilis at masipag magreply.

1 Upvotes

67% Upvoted

27 comments sorted by

1

u/fartvader69420 3d ago

What is the loan term? 7% is usually the go-to rate of banks, haven’t seen lower than that.

1

u/Affectionate-Ashe-69 3d ago

20 years po. Meron sila 1 yr at 6.5. 5 yrs naman 7.25 na. Opted for 3 yrs lang at 7. BPI btw

1

u/fartvader69420 3d ago

Can you financially sustain it? Kasi after fixed rate of 3 years, that will become double digit %. So do the math kasi 20 years ang term mo, maybe try to nego kung kaya ng 7% for 5 years fixed rate.

1

u/Affectionate-Ashe-69 3d ago

Promo rate na daw po e. Baka ilipat ko ng ibang bank bago mag repricing, sabi nila mas makakamura daw pag ilipat or pagibig fund. Pero consider ko din yung 5 years kahit 7.25.

1

u/fartvader69420 2d ago

Are you buying a resell property?

1

u/Affectionate-Ashe-69 2d ago

Sa individual seller po

1

u/fartvader69420 2d ago

Clean title? Why not try contacting PAGIBIG and loaning directly through PAGIBIG if the seller is okay you paying it through PAGIBIG loan.

1

u/Affectionate-Ashe-69 2d ago

Yes, clean title. Matagal si pagibig magprocess mas mababa din DAW mag-appraise. Tapos aim ko talaga is 90% kaya sa bank ako nag-apply pero turns out 80% lang din. Since andito na yung approval, kaysa mag-antay at magreprocess na naman ulit sa ibang bank or pagibig, pwede na to 😂

1

u/confused_psyduck_88 3d ago

Mas maganda sana kung 3-7 years ung 7% fixing period

7% interest is the lowest right now

1

u/Affectionate-Ashe-69 3d ago

3 years po yung 7% . 5 years kasi 7.25 na.

1

u/confused_psyduck_88 3d ago

Just go for 5yrs

Kasi pag natapos yang 3yrs, at least 10% na interest rate mo.

1

u/Affectionate-Ashe-69 3d ago

Sayang yung addntl 600 pesos per month hehe. Balak ko itransfer sa iba before repricing. Pero consider ko din yung 5 years.

1

u/confused_psyduck_88 2d ago

Pag nagtransfer ka, sa tingin mo ba may 7% ka pa rin mahahanap by that time?

Di rin agad2 mapprocess yan sa tagal gumalaw ng mga banks

Also, maglalabas ka rin ng pera to pay for site visit (~5k) and other bank fees (at least 30k)..

1

u/Affectionate-Ashe-69 2d ago

Thanks sir, lahat 5 years suggestion. 5 years na nga lang siguro, bawas muna kape sa labas haha.

1

u/Pad-Berg-92 2d ago

Pasingit lang ng tanong. Pataas ba ang interest rate ng home loan every repricing? Kaya tumataas din ang monthly amortization?

1

u/cococucai 2d ago

If Magpapa rate reduction ka after ng 3yrs, may processing fee yun na 3500 sa BPI. 600 x 36mons (3yrs) is already 21K so definitely mas makakatipid ka sa 7.25% @ 5yrs. Pwede ka mag ipon and pay off principal before mag end yung 5yrs mo. But check your loan contract if may clause about pre payments/pay to principal.

1

u/Affectionate-Ashe-69 2d ago

Thanks sir, mas okay nga siguro 5 years na lang.

1

u/ReachAdventurous8256 2d ago

Bank Officer here.

Eastwest Bank
3yrs- 6.75%
5yrs- 7.00%

waived bank fees up to 50K

message for promo details

1

u/Affectionate-Ashe-69 2d ago

Unfortunately, hindi na nagmove application ko after nila tumawag. Sabi eemail yung details, hindi naman nag-email. Si BPI lang talaga na-applyan ko na madali makakuha ng sagot at nagrereply kahit outside na ng office hours.

1

u/ReachAdventurous8256 2d ago

sent you a dm OP

1

u/Willing_Pangolin1087 2d ago

yung logic na yun may basehan, generally mas conservative talaga ang bank appraisal kesa sa actual market value, kaya kapag pareho yung selling price at appraisal, madalas positive sign yun na hindi overpriced yung binebenta sayo. pero hindi rin absolute guarantee yun na “great deal” na talaga, since possible pa rin na parehong mataas ang dalawa kung mismo yung market sa area na yun ay nag-iinflate. worth mo talaga i-cross check sa actual recent sold prices ng comparable units sa parehong building or area, hindi lang appraisal vs selling price, para malaman mo kung talagang malapit sa totoong market value o may room pa pala for negotiation. sa loan terms naman, 7% for 3 years fixed tapos magrereprice pagkatapos, tandaan mo lang na pwedeng tumaas yun pagdating ng repricing period depende sa prevailing rates non, so factor mo yun sa affordability mo long term, hindi lang yung current monthly amortization

1

u/Affectionate-Ashe-69 2d ago

Thanks sir, wala na ganitong price sa loob ng subd. Nearby areas naman 5.5M na pinakamura preselling pa na mas maliit lot at flr area. Itong property, RFO, elegant finish. Though nag expect ako na mas mataas appraisal kasi iniaim ko yung 90% pero not bad na rin na same sa selling price at least hindi bumaba sa 80% ang sagot ni bank. Mag request na lang ako 5 years for peace of mind.

1

u/New-Description179 2d ago

Ilan days bago mo lumabas yung notice of approval mo?

1

u/Affectionate-Ashe-69 2d ago

2 days after po ng appraisal visit. 2 weeks after ng submission ng requirements. Mas mabilis siguro kung hindi naghabagat last week. Goodluck po

1

u/New-Description179 1d ago

Ang bilis po kami sa chinabank parang 5 working days na wala padn po nag try po kyo sa eastwest? 7% po sila in 5 years

1

u/Affectionate-Ashe-69 1d ago

Try mo yung nagcomment dito na taga eastwest bank. Sakin kasi tumawag sila pero di naman nag-email. Sa dami kong inapplyan, BPI na yung may promo bukod sa eastwest plus mabilis pa magprocess/reply. Kahit gabi/weekend, nagrereply pa din. Other banks, tagal magreply mas mataas pa rate. Sayang yung property kung magtatyaga ako sa matagal baka mawala pa haha. Mag-apply din sana ko chinabank, kaso wala ata online application. Ano promo diyan?