House Construction Loan Through Banks
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- Опубліковано 28 сер 2024
- Kung kailangan mo ng financial assitance para sa ipapagawa mong house, and you want more options and faster approval, house construction loan through banks is the way to go. Ano nga ba ang dapat alamin before mag apply ng house construction loan through banks?
#HouseConstructionLoan #Banks #PhilippinesRealEstate
Your content is superb! Finally found someone who explain detailed yet simple things in and out property acquisition! Thank you!
So magluloan ka dahil wala kang pera, pero kelangan mo muna mag release ng pera para makabuo ng 30% house construction bago mag release ang bank. So if wala kang extra, wala kang pag-asa makapag construct ng house unless bumili ka nung gawa na.
Very useful content, thank you. To add, para sa mga may balak magloan, when start na magrelease ang bank ng initial amount, they will start charging interest na din sa nareleased amount. Liban pa to sa interest sa total loan amount when marelease na lahat, that's when macompute na din monthly amortization.
Correction lang Sir, designer (Architect/Engr) ang magpoprovide ng design requirements hindi contractor. Unless the contractor happens to be the designer as well (design and build). Nice content tho, sobrang informative sir. Thanks!
Oh so sorry I stand corrected. Im so used with contractors who are also Engineers and Architects themselves. Thank you
Thank you Chris. I have been searching and searching different videos from Ex-pats trying to see how the financing part of things go. This is the first video that has given me the answers that I need.
You are welcome!
I learned a lot from you Sir. Thank you for your knowledge shared to everyone of us watching.
Hi Chris, thank you so much for having this video as it gives me more insight on the process of getting loan which is very timing. Very informative and detailed. I hope you continue providing this kind of content and more power to you.
Thank you, Mikael!:)
this content is one of the variable of BRRRR method in real estate cant wait sir chirs na mag upload kapo about BRRRR , Im looking to be your mentor
im curently panning to BRRRR my tito and papas property , I already knew the major part of BRRRR i
Hi Chedrick! I'll try to discuss it on my next vlog.:)
Sir, gud day Po,😇😇😇 thanks po, sa clear explanation nyo Po, nag babalak na Po kasi ako na mag pa renovate Ng house ko Po sa cavite, thanks po a info, ingat Po kayo palagi stay safe Po sir,👏👏👏God blessed Po,💐💐💐❤️❤️❤️
You’re welcome! Goodluck your rennovation:)
labs na kita sir 😍 grabe parang gusto ko ng magback out sa pag papagawa ng bahay 😆
superb info sir chris..may i suggest your next content will be "home equity loan". thanks po :)
Great video! Superb!!👍👍thank you so much Chris! God bless you!
dagdag kaalaman,atleast my idea na in the future.gracias sir Chris 🤩
Thank you, Gaelle!
Hi Sir Chris, this video is very helpful and informative. Thank you and God Bless po.. 🤗🤗🤗
Thanks you for your video..I'm on the process of construction loan under BD0..still waiting for the approval..
Hi Chris. We have housing loan ongoing right now. At first kc sabi lang is we have to pay sa processing fee kasama na dun ang MRI, fire insurance documentary stamp na 17k plus so all in all 105k ang nabayaran na namin para marelease ang 1st tranche. Kala namin lahat kasama na dun at wala n kmi babayaran pa kc they didn't informed us that every tranche we have to pay for the documentary stamp pla which is big amount dn pla.
Thank you for this, Chris!
Very informative! Interesting yung BDO na nagbibigay ng paunang bayad at 0% completion. Question is may iba ba bang banks na nagaallow nito?
Same question
Anong paper size ang kailangan sa building plan? A3 or A4 pwede na?
Ito rin ang hindi ko magets e, kaya ka nagloan kasi wala kang isang bagsakan pera pampagawa ng bahay. Pero need mo maglabas ng pera😅😅
Good Day, thank you for the well informed discussion ask ko lang po if same procedure ito kapag apartment naman po ang icoconstruct ? Thank you po.
Very helpful indeed. Ask ko lang po if pwede po ba na ung purchasing ng lot is ipasok din sa loan, vacant lot and construction? May ganun po bang loan?
thank you Chris, can you do videos on Home Equity Loan and Home Equity Line of Credit as well?
Hi Jonatahan! Thank you, sure will do!
@@ChrisSuarezRealEstate thank you for considering, for reference.
www.psbank.com.ph/loans/home/housing-product-list/psbank-home-credit-line/
no PH content creator pa yata tackled it and go deep, mostly the usual 'ano pipiliin house and lot condo'. but you get to explain more real estate stuff in a simple way with a good microphone. 😊
@@jonathansoriano8 thank you. Home Equity Line of Credit is a really good option.:)
very articulate! Salamat po 👍
Thanks for your video. Yung lahat ng banks ba nag sta start lang ang amortization pag na release na nila completely ang total loaned amount?
as always, very informative po, thank you so much! i hope you would also include House and fire insurance? if it's also included in your regular house/house construction loan or separate, looking forward to more videos.
Thank you for this information 😎
Thank you po sa napaka informative na vedios nio po,
Ask ko lang sana may makasagot. Pwede ba magloan ng house construction sa bank if yunh lot ay under financing pa at hinuhulugan pa sa bank? Bali magloloan for both lot at the same time house construction.
Kapag linoan ang lot nakaninu ang titulo? Sa bank or saken? Pwede bang gawing collateral ang lote na hinuhulugan pa?
Yes, you can refinance your existing loan then samahan ng construction loan. Pag-IBIG and some banks allow combination of loan purposes.
Kailangan pa rin pala talaga mag shell out ng cash unlike housing loan
Content superb sir! so far may problem kami sa ganto sir, bale ung Bank facilitator kasi namen,sbe nya if first time na mag loan ng malaki di agad inaaccept, so ung nangyare nagloan muna kmi ung mabilis ma process which is successful nmn ung problem now is sa 2nd loan since kulang ung 1st loan, mag bubuyout strategy kame para high ung chance na maapprove ung bigger loan, pero until now ung bank for 2nd loan wala paren tawag waiting patiently kami mga 4 months na, okay lng kaya ung ginawa nmen sir? We appreciate greatly sir kung may advise kau salamat po.
This is helpful indeed. Thanks for this :D
Hi Chris! Thanks for this content.
You’re welcome
Very informative. Thank you.
Good day sir “ new subs over here “ paano sir pag mababa ang appraisal ng banko sa total cost of construction as per sa Bill of materials. Puwede ba gawing standard finish na lang ang high end na design at magbawas ng sukat ng bahay. Thank you şana masagot mo kasi May approval na kami sa BPI 4.1M tapos ang presyo ni Contractor ay 5.5M
Hello Chris, great content. Question: What if the loan amount is smaller than 70% of the collateral value? What will be the schedule of release looks like? TIA.
Hi thank you for this video.. do you also have a video tutorial for Buying a lot and house contructions for bank loan?
Thank you for explaining! Question: how long is the TERM that banks allow?
Hi Chris, what if the construction period lapsed for let's say three months? Is the bank going to release the last tranche? Thanks for the answer.
Hi sir pwede kayang I collateral Ang residential free patent para sa house construction loan?
Great content! I do have some clarification if what I heard is correct. When do you actually start the monthly amortization? Is it after approval or a year after approval? Looking forward to your response.
Hi Topy, you will only start paying your monthly amortization after whole amount has been released by the bank.
I've mentioned construction shouldn't take that long because some banks will automatically start your monthly amortization after a year, even if the full loan amount hasn't been released yet.
Hi Chris, you mentioned that you can increase the loan amount by increasing the BOM. Is there an effect, if the approved loan amount is my actual contract price. Thanks
Hi sir! Sana mapansin nyo po. We bought a house po kasi pero rights lang sya. Kampante naman po kaso now need namin iparenovate so roughly around 150k and need. Pwede po kaya ang rights lang or need talaga ng titulo?
Hi, need po talaga ang titled property.
@@ChrisSuarezRealEstate ayy 😔 sige sir, salamat po sa pagsagot.
Hello Sir thanks for the video I do have a question lang po, I was planning to have a loan
sa banko for house renovation either Union Bank or RCBC and tanong ko lang what if yung title ng lot na currently pinagtayuan ng bahay namin is hindi nakapangalan sa akin/family ko, nakapangalan pa sa grandparents ko pa at di pa na transfer ang title sa amin paano po yun? Kami lang din po mag hahanap ng tao for our house renovation, kailan ba talaga ma estimated na breakdown of cost sa materials? Mga 200k lang po sana e loan ko.
same question po. sana mapansin.
Very informative video Sir. How about po ongoing na po yung construction sir? Pag na appraise na po ba positive po ba for approval?hope you will notice my comment..Godbless po
Hi, do you have an idea if sino mas mabilis magprocess and release? Is it bank or pag-ibig? Or same lang?
Good day sir..ask ko lang po..ano po mas prefer nyo po mag construction loan or personal loan.
If maliit lang po na amount ang need ko..sabihin na po natin nasa 150k or less...mag papagawa po kasi ako ng bahay or renovate..
Thanks for the info very clear.
You're welcome!
new subscriber, salamat sir! more videos po :)
Thank you
Can i make my lot as a collateral if i have yet to pay it in full and it’s still paying it to the bank?
Sir ask ko lang may option Po ba si banko kung ilang yrs Ang length Ng pagbabayd sa na loan?ano pinkamababa na length of years Ang option nila sa pagbayad?
Question po. I have a house na need ko na ipagpatayo ng bago? Anong klaseng loan ang pwede ko pong i-avail sa pagibig? Tnx po sa sagot
Hello sir, ask lang po since di ko nahanap ang sagot anywhere. Kelan po usually nagistart ang amortization? Right after ng 1st release o pag narelease na 100% ang loan? Thanks!
Hi Chris, aside from BDo what other banks po ang nagbibigay ng paunang release to start the construction. Thank you.
What if I want to loan but TCT is under my parents' name? What addtnl requirements do I need to be approved?
Yes, it's possible, they just need to sign an SPA for accommodation mortgagors
Sir meron po bang accredited na construction firm na pinoprovide ang pagibig?
Kung meron po, pag sinabi po bang accredited, does it mean po ba hindi ka po maloloko?
Hello sir may question po ako, may nakuha kaming house and lit through pagibig and we've been paying it for 5 mos na sa pagibig. We want to make get home construction loan sa bank, since may bahay ng nakatayo and we just want to do home improvements like extension and roofdeck, staggered pa din po ba ang release ng loan? Hope na masagot. Thank you po 😄
Sir question pi. What if matagal na po naumpisahan ang house bago makapag apply ng loan kasi natagalan pag ayos ng requirements lets say umabot ng 1year po. Pwede pa po yun i apply for house construction po?
Sir, meron po bang "applied to principal" ang house constraction loan sa banko para mapaikli ang payment?
Thank you po for this content!
Yes there is
hi po noob question. is it still feasible if mag bank loan for house construction pero unfinished yung ipapagawa like hanggang palitada lang muna yung bahay?
Nice info thanks
WOW, thank you for that clear explanation,.
Just wondering lang po --if it is still possible for me to apply for that construction loan, though had my house improvement construction last April 2021.
Hi Len, yes as long as kay pa ng income mo and hindi pa max out ang 6M na limit ng PagIBIG.:)
new subscriber po at may plano po kmi mag bank construction loan tanong ko lang po need po ba talaga naka pangalan samin ang lot? sa parents po kasi naka pangalan.
Gud eve sir.. Inaallow ba s nga banks ang advance Payment applied to principal? Tnx
Hello sir. It is possible po ba to apply House Construction Loan while dito po ako sa abroad?
thank you coach
How to check po kung nk 30% nko sa construction loan ko,? Kasi po sbi bank is 30% lng muna relase, then kung my kulang ako n bhl mag abono, pero panu ko nmn po malllman kung na reach ko na 30% requirments nila? Sinu magsbsi skin ?
Hi Chris thanks again for the great content! I would just like to confirm that the first monthly amortization starts one year from the first day of construction, or from the date of the first tranche release?
Hi Jose! Thank you. You’ll start paying your monthly amortization after the bank has released 100% of your construction loan, they usually advise when it will start.
And in you opinion sir which is better for a construction loan, pagibig loan or bank loan po, salamat
San po magsstart ung count ng loan ,from the 1st release po ba o sa time n naaprove ung loan
Sana mapansin niyo po ko sir chris I'm Froilan Javier 26Years old this coming April I really like po to start my Realstate Investing but di kopo alam pano mag start sana po mamentor niyo ko kahit konte🙏🏻🙏🏻🙏🏻
Hello please tackle po about transferring of the home loan to another bank. Process, pros and cons. Thank you po. ❤️
Noted! Thanks, Ana!
Hi sir, great content! Magtatanong lang po ako kung pwedeng gamitin ang pagibig or bank loan kung magpapatayo ako ng apartment via home construction loan. Thanks.
ang apartment po ay considered as commercial. Pwede po iyan sa business loan ng banks, or if may property po kayo you can try home equity loan or home credit line.
@@ChrisSuarezRealEstate Maraming salamat po sir!
Hi Sir, confirm ko lang po if same po ba ang bank loans sa pag-ibig loans where in you have to spend first the equity amount (20% - the difference between the total amount and the approved loan amount) before they will release the first tranche? Thank you po
Ano po ba Mas maganda in your opinion bank or pag ibig?
Thank you Chris!
You’re welcome
Hi sir chris ask ko lang po kasi need isubmit kay bank yung bill of materials. Kung nagpagawa po ako sa kilalang construction services ng bill of materials pero magpapagawa ako pakyawan or arawan lang, they dont have own firm aaccept pa din po ba yun ng bank?
Yes, okay lang as long as ma accomplish as per plan.
hi sir may i ask a question? example my salary is 102k and my collateral costs 1m. and bank will approved 2.5m loan. mgpapagawa po ba ako ng 30percent galing sa sarili kong pera? i mean maglalabas po ba muna ako den after nun dun nla irrelease ung amount ng loan ko or they will give na 30percent of the 2.5m n nloan ko at d start? tnx im.confused
hi! dpat po ba may existing account ka sa bank na pagloloanan. Thanks?
Hi, Sir Chris! Thank you for this very informative content! I would just like to ask, ‘yung bahay kasi namin ay paid din through pag-ibig home loan and kaka start ko pa lang magbayad. Bare unit siya so need pa i-improve so I’m planning to apply for a construction loan. Can I apply kahit na hindi ko pa fully paid ang bahay since through pag-ibig ko siya binabayaran at wala pa sa akin ang titulo? Salamat!
Hi! You can try if possible ka ng mag refinance with home improvement. You may combine naman both loan purposes.:)
Thank you
Hi Sir! Will it be a problem pag hndi sa amin nakapangalan ang lot na pagppatayuan namin ng bahay? It's my mother's name po nakalagay sa title, but ako po mag loan sa bank, thanks in advanced po
Sir pano kung gagawin kong pang airbnb yung house? Pwede bang based sa estimated monthly income nung rental yung capacity to pay ko?
Good morning sir may ask po ako what if yung appraisal namn po mas mataas kay sa income po. Ano po pwede po gawin to approve the construction loan ?
Paano kung di natapos in 1year po at hanggang 1st release lang po.. for example 1m loan ang na release 500k palang tapos nahinto na ang ptoject. Ma charge po ba ako ng 1m? May penalty po ba for non completion?
Sir Chris, new subscriber here. Question po, what if nasa Ncr ako then nakabili ako ng lote sa province at gusto ko na patayuan ng house, saang branch ng bangko ako dapat mag apply, dapat ba sa province din or pede na dito sa ncr?
Pwede naman kahit dito iba nga lang ang appraisal fee.:)
New subscriber here.. i wanna ask if may banko ba nagfifinance for commercial building construction loan?
First release po is what percentage of the fair market value of the land po?
Ask lng sir???pwedi ba i colateral ang lote na hindi pa residential ang nakalagay sa title???
hello sir. question lang whats the best option for us. may property po parents namin. though 2025 papo matatapos yong amortization. Can we apply po as siblings for a construction or improvement loan for a property owner pa ni bank?
Question: Kanino po i-endorse ni Bank yung payment sa progress billings, sa Contractor na po ba directly nakapangalan or sa nag-loan?
Directly po sa borrower.:)
I'm reading all the FAQs of banks - they are all requiring 20% DP. Is this the same for construction loan? If the total cost of the house construction is 5M.. Bank will only release 4M? I'm confused with the DP. Or if took a loan of 5M - bank will release 5M?
Hi Jane, the reason they require you a 20% downpayment is because they cannot approve 100% of the appraised value of the property, they call it loan to value ratio. Most banks can only approve 80% of the appraised value. For construction loan, it’s different, they will based the approved loan amount on your bill of materials and value of your collateral.:)
@@ChrisSuarezRealEstate thanks. So if the value of collateral is 2M and 5m for the cost of the house. 5.6M which is 80% of total value will be the potential loan amount? As what you said on the video, if contractor is requiring 30% before they start constructing, i don’t need to make downpayment on my own money? The bank will provide the downpayment instead (supposed the first bank release is the total amount of required dp by contractor)? So construction loan, you don’t have to pay with your own money for the DP?
You're welcome!
1. So if the value of collateral is 2M and 5m for the cost of the house. 5.6M which is 80% of total value will be the potential loan amount? -- Most likely. But it doesnt mean if the submitted bill of materials or project cost is 10M, the basis is automatically 10M. They have a different evaluation for bill of materials/project cost compared to the land value. It will be reflected on the appraisal report.
2. As what you said on the video, if contractor is requiring 30% before they start constructing, i don’t need to make downpayment on my own money? -- It depends on your contract price with your contractor and your approved loan amount. If the approved loan amount is lower than your contract price, you will have to shell out money for the difference.
3. The bank will provide the downpayment instead (supposed the first bank release is the total amount of required dp by contractor)? --- In most banks the first release is only 70% of the value of your collateral, I think it will not be enough for the required downpayemnt of the contractor.
@@ChrisSuarezRealEstate thank you. Answered all my questions. Singer ka pala nakita ko instagram mo hahahha
@@janemariefuentes2988 Hehe! Hobby lang.😊
Is it possible to apply for lot purchase with construction in one loan?
I am looking to purchase a lot (at 3 yrs to pay if direct to seller) but would also want to be able to build as soon as possible.
Bakit yun sa akin feb 14, 2021 nareleases yun first tranch march 1st nagbawas na sila? Hehehe
Thank you for your video it's very helpful especially I'm on the process of my home construction loan on bdo..
I have question if ever I have small changes sa plan ng house ok lang ba yon ..or ang bank ba eh check nya exactly yong plan ng house ?
Hello po, ano po nangyari sa changes as house niyo? Balak ko rin po kasi magkaroon ng konting changes.
100k per month? So yung mga nasa 15k no chance talaga, hahaha
So after a year pa po mag uumpisa ang amortization?
Shalamat po shir..
Hi po, thanks for this great video. I heard there will be a downpayment of 20%? Is that true to all banks? If yes, where will that 20% downpayment go?
Hi! It will depend on your property's appraised value. Some banks approve below 80%.
Good day po. Anong opinion nyo about private banking or infinite banking