Home Loan Members who are at least two years already and who have contributed at least 24 months. Of course, there are other requirements, before the loan is finally granted, the point is Loans is only open to its members. So that means if the property you are considering is priced more than PhP ( Philippines) 3M, you need to come up with some form of up-front payment or equity to settle the price difference virus the loan amount. Or, you may opt for another financial institution.
What type of Real state or Real state project can be finance?
Lot property-- It could be a raw land or parcel of land in a subdivision development.
House And Lot Purchased-- If you are buying from a developer, please check with your broker or
agent. can be used to finance the property you wanted to buy. Most buyers of real estate in the Philippines have no idea of the interest rate that comes with the loan. As a buyer, you should make a top priority to know about the interest rate and be able to compare it to competing lenders.
Home buying is not like shopping for your grocery items. It takes a keen observation and careful attention to details. In choosing a place to live, you should consider such factors are the flow of traffic, location of schools, where people are shopping, the toxic and noisy areas of town and other similar factors.
I agree, it's a major decision to make that takes a lot of planning and preparation.
ReplyDeleteWe recently bought a car and got a good interest rate on the loan.
DeleteI wish we can qualify for a home loan. It's nice to have our own house but we can't afford it yet.
ReplyDeleteRight now we don't need to buy a new house though, but what my wish would be is to be able to afford to build a new house though. We live in our own house with a huge backyard, but we could surely use a new house update. It is a huge decision for sure.
ReplyDeleteWe'll be trying out Pag-Ibig Home Loan. Hope we get approved.
ReplyDelete