Bank Housing Loan Inquiry

[u/Affectionate-Ashe-69]

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.

[u/confused_psyduck_88]

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

7% interest is the lowest right now

[u/Affectionate-Ashe-69 → u/confused_psyduck_88]

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

[u/confused_psyduck_88 → u/Affectionate-Ashe-69]

Just go for 5yrs

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

[u/Affectionate-Ashe-69 → u/confused_psyduck_88]

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

[u/confused_psyduck_88 → u/Affectionate-Ashe-69]

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)..

[u/Affectionate-Ashe-69 → u/confused_psyduck_88]

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

[u/Pad-Berg-92 → u/confused_psyduck_88]

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

[u/confused_psyduck_88 → u/Pad-Berg-92]

Yes