Bank Financing for your Condo Unit | How to get approved and what are the requirements?
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- Опубліковано 30 вер 2024
- #bdoloans #bankfinancing #homeloan #condoloan
Bank Financing for your Condo Unit | How to get approved and what are the requirements?
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Email: willblanza@gmail.com
FB Page: facebook.com/wbrealtyphilippines/
Sana sayo na lang ako kumuha condo sir you seem resourceful. Ask ko lang what if and turnover ng condo ko is this year kaso aalis ako since OFW and balik ko next year na, is it possible na iadvance ko na ang bank loan or okay lang na mag bank loan pag uwi ko na lang next year? SMDC Coast owner here
My advise is apply ka now ng Loan Application. Para malaman mo na un mga documents na kailangan.. then once approved.. I-timing mo nlng un Loan Release sa turnover date ng condo. Pwede nman ma released un loan kahit abroad kana..for turnover nman, pwede yan ma accept ng Representative mo.. then pwede na ipa rent later on.. Pra wala masayang na oras..
Duly noted sir. Lastly, what if hindi ako nakapag apply ng loan agad and nakaalis ako, is there a penalty pag late nag apply ng loan? Lumampas na sa turnover date and tapos na magbayad 15% in that case.
Many thanks for response!
Yes there is a penalty for late payment of balance. Pls coordinate agad sa SMDC incase meron ka delays para magawan ng paraan..
Ilang months before turnover of condo unit ba kailangan mag apply ng bank loan ?
Hi, atleast 4-5 months looking and inquiring na for banks.
what happens po sa deposit na naibayad if in the end ay na reject ang bank loan?
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The amount of rental is 25k when you search.... Kamusta ka na po ngayon?
Kung inipun mo lang ang sobra 23K from rent na 50k at ibabayad lahat after 5years. Why not ibayad mo na lang buo na 50k monthly. In 5 years meron ka ng nabayaran na 3M. Bababa pa ang interes at magkano na lang ang remaining balance mo? 800K pwede mo ng ipay off. Kesa inipon mo yung 23K na sobra you come up only 1.3M after 5years, malaki pa ang aabunuhan mo kung gusto mo ipayoff.
true!!! masydo focus sa income but ung interest sa bank ung lumalaki
hello ganun ba talaga ka laki rent sa shore? nakikita ko lang sa mga post usually 20-15k usual rates now eh.
Hindi totoo ang sinasabi niya at kulang kulang sa impormasyon nangangapa pa rin siya
grabeng mahal pla ng condo, meron pa bang 2M sa Metro Manila?
Outside Metro Manila napo
kaso ang rentahan now is nasa 20k monthly nalang po.layo sa expected na 50k up.kaya laki abono
Hello. Po ask Lang ko babayaran kuna po Yong equity nang condo. But paano po sir pag SA bank na may chance po BA na ma approve? KY 2 unsettled credit card Kasi ako SA banko. Please salamat po
Hi boss. Very informative vlogs! Curious lang ako. After mabayaran yung DP, pero di ka maapprove sa bank loan. What will happen?
hope he answers this im curious to know
Thank you for very informative video. Ask ko lng sir, my friend got two condo sa smdc, shore 2 at shore 3, possible b n Ma-aprubahan pareho Ng bank loan considering two loans yon, ofw po sya at currently still paying Yung equity, unang mttpos po ung shore 2 by first quarter next year. We need your advise po regarding this. Thank you. We are currently based here in Singapore.
whats the answer on this po?
what if hindi ma approve ng bank dahil meron nakita na cred8t card loan dati ba di nabayaran? paano na mangyayari sa condo ba na bayaran ng 42 mod?
Kapag clean title n condo n i loan ku .ang hinihingi po sakin ng may ari ng smdc condo is 3m ..
Also what are the option if buyer cannot get a bank approval after paying the the downpayment ?
Maceda Law will prevail. Worst case you get 50% of what you pay as refund provided you have paid for at least 2 years. If not, you only get 60 days grace period.
How to apply maceda law po?
Sir, how much is the current interest rate as of August 2024 for bank financing po? We have 3.9M outstanding balance for bank financing but we we're offered 10.25% interest rate for 20 year term of payment which is unbelievable. Lalabas na and total of payments namin is P9M.
Is this even acceptable?
10.25% Interest rate? Is this In-house financing?
finally I got this better explanation of the SPA. the loan officer is so unclear about how will I obtain it. I agree with you, always use the longer term specially if you're renting it out. Here in the US, you can get a 30yr loan fixed rate regardless of your age. Just don't look on how much the interest is because your rent is paying it anyway and not your own pocket, great video !
Thank you very much for watching our video! Please don't forget to like and subscribe to the channel. 😀❤
Hi! Your video is informative. I like to know what will happen if I already deposited for the condo, however late on my bank loan is not approved. Will the deposited amount I gave be refunded? Thank you.
Do I need to be dual citizen in order to avail condo loan from BDO or other banks?
I really appreciate all your vlogs...you have answered a lot of my questions na hindi nasasagot ng mga agents na nagha-handle ng purchases ko....You enlighten me to many queries...Thank you so much.
Hi sobrang salamat at nakita ko tong vlog mo, turn over yun unit ko sa June 30 daw, SMDC MOA need ko help mo, Paano kita makausap
Hi Sir! anung advise nyo po sa amin na gusto talaga mag invest ng condo ang sweldo po namin ay wala pa sa 30K .. paano ang pwede gawin... may nagalok samin sa smdc pero naghesitate kami dahil sa laki ng babayaran after DP..
I recommed start from small.. Find a property less than 3M total pricing.. We some property in Trees Residences, 1 bedroom at 2.6M
Hello po, this is 2 yrs ago, pwede po bang update nyo yung price of 4,500,000 in case magloan? Magkano ho ang %down payment, monthly payment payable for 5 yrs?
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How does that work po if you’re going to loan din yung bank fees? Hindi po ba madadagdag sa interest yun?
Ask ko lang po kung pwede po ba magdagdag sa loan,halimbawa ang babayaran ko sa condo is 4m.pwede ko ba xa dagdagan ng another 3m.para total 7m.? Thank you po
Hi Jonalyn, interesting question. With my experience pagdating sa Loan. Baka hindi ito ma approve na Bank, masyado malaki un additional loan na 3M. Normally pwede ka pa add lang ng 300K - 500K for home improvement. But you can still ask the Bank. There no harm in trying 🙂
PANU po Kung 3 condo ka maaprove ba Yan sa bank loan Kung every year my turn over ka na unit I pasok sa bank loan
Posibble padin po na ma approved.. Pwede mo kasi isama sa Income mo un kita sa Condo Rentals..
i have to ask because the situation is different now, rentals have gone down. and the Chinese tenants who usually occupied most of the MOA complex condos who left - they were the one who can afford that 50-55k rate. how do you handle this situation?
In this situation you have to be prepared, you need to an emergency fund.. as I always advise, apply for the longest payment term so that youll have a low monthly amortization.. And make a time frame to pay off ur loans in 5-8years time.. in my situation, I fully paid most of my loans.. Even rentals gone down, I still have a solid source of income.. P25,000 per month passive income still a lot of money.. Compare to other businesses that went bankrupt.
ano po mga possibilities na ma dis apporoved sa banko?? and paano po if walang sariling property ung mag loloan? this one palang if sakali? 😊..
Hi Elaine, ang pwede mo gamitin collateral is un property na hinuhulugan mo sa Developer. We can help you sa Bank Loan application mo, pls message us thru Viber/Whatsapp +639176320059
Sir question po, after 5yrs, i pay off mo na sya, ang remaining balance for 20yrs ba ang isesettle mo, or lesser na? Thank you
Hi Kate. You only need to settle the remaining outstanding balance. Kung 25 yrs term kinuha mo. Then naka pay kana 5 years, un 20 yrs nlng babayaran mo, less the interest.
Question po, pano pag kumukha kami condo kasi less than 1yr pa lang kami sa company namin, possible pa ma approve sa bank loan?
Pag wife walang work tapos ung Hubby lng may work possible kaya ma approved ng banko? I mean nasa ibang bansa kmi natira bale bakasyon bakasyon lng kmi sa pinas. Pag kukuha kmi ng Condo sa aming dalawa nka pangalan.
Yes possible padin un approval ng Bank, as long as sufficient un income ng husband.
Coach kailan lumalaba Yung letter of Guarantee after ng Complete docs ng loan ?
Hi, yes after docs completion. Other banks require the payment bank fees before issuance of LOG.
Thanks for your vlog, Sir! Very informative po. Just want to ask Sir, just in case po ba after 2-3 yrs po ay nkaipon ka ng pambayad sa remaining balance or current oustanding s bank for a 10 yrs loan contract. May additional charge po ba bank dun or ung latest oustanding na lng po pay sa bank?
Theres no other Fees kapag nag full payment kana sa Bank.. Ang babayaran mo lng is un latest outstanding balance..
How about sir yung balance co is 35k/month then gusto co sir bayaran ng advance pwede po ba un?
Yes any advance payment is welcome po.
Hello po. Ask ko lang po kung yun na po lahat babayaran sa bank yung 85% balance at bank charges? Kelangn pa po ba kumuha ng insurance? Kayo po ba?
Yes need ng MRI and Fire Insurance.. Anyway the Bank will offer you also those insurance.
Hi sir i have question regarding sa Bank Financing, what if meron ako existing Bank Loan, and then gusto ko pa kumuha ng SMDC Unit worth 6-7M, possible ba na maaapprove ang Bank Loan para sa new unit? tapos ang salary mo lang Abroad ay around 150-180k/mo. Kase yan yung nagiging concern if ever na kukuha ulet ng another unit pa.
Hi Sir, with the 150K - 180K per month salary.. approvable kapa for another loan.. Msg me in WhatsApp or Viber +63 9176320059
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nice content. was skeptical nung una kasi parang too good to be true ang condo investments but thanks for the comprehensive breakdown with numbers. very good din siya for laymen like us
🙂😊
Hello Will, Bumababa ba ang presyo ng condo sa ngayon? Musta ang bentahan? Ano condo ang pre-selling sa ngayon ng SMDC o DMCI. Hindi kaya ang BGC. Pls advice...
Hi we have newly launch project.. Gold Residences in Paranaque
Mr Will need to pre qualify the client before buying the condo for OFW para Hindi masayang and investment naming
Yes tama po.. Thats what my Team do with our own clients.
Hi bro. Can you do a new video because most condos nowadays don’t start at 4.5 mil
hello. yung sahod ba gross wages or yung net wages ang basehan for bank financing?
Net wages
Hi po do a vlog naman po about foreclosed properties. Thankyou
Paano po kpag may di nka pasa sa loan dahil may cc na fi nbyran? Or pano kung bayaran yung cc mkkpag loan pa din b?
Yes, if you can settle your CC pwede ka pa makapag loan.. just provide lang un proof na wala kana utang sa Credit card.
Would a person from the US qualify for a loan from a Filipino bank? I want to invest in condos in philipphines, trying to learn as much as I can before I do though.
Right now, Phil Bank dont allow foreigner to borrow money from them.
@@willblanza-realtytv what if I was born in philipphines but I moved to the US when I was 5? Would I be considered a foreigner?
What if walang nag rent sa condo sir?
Sir Will, May nabayad na KC akong reservation fee ,and this august 22 will be my first hulog for my DP.. but I was thinking to back out coz Mejo nahihinaan Ako sa agent ko and Mejo doubtful Ako Kung hanggang sa pag rent ma tutulungan nya Ako..is it possible po na magtransfer ng agent na Hindi ma forfeit ang reservation fee ko? Ất possible din ba ito?
Hi po! Sino po ang dapat pinagtatanungan ng ongoing rental rates sa isang condo project (eg. SMDC)? Realtor po ba or kailangan icontact yung leasing department? Thank you!
hello. are non-filipinos (i.e. canadian citizens) eligible to get bank loan from phil banks? for purchase of condo there in Manila and is their an age limit requirement?
Yes, foreign can get maximum of 10 years loan. 60-65 yrs old age limit.
Papano po kung di maconsularize ung contract abroad dina ba pede mgproceed ang bank loan application po? Slaamat in advance
As per my experience, kailangan talaga po ma i-Consularize un Contract to Sell or SPA.. one solution is incase mauwi kayo ng Pinas.. pwde nyo i-sign dito then provide Date of Entry ng passport.. pero pls call the Developer or Bank for any other solutions.
Ano yung bank fees? Hiwalay pa sa monthly amortisation yung bank fees? 3,800,000 x 0.25 masyado naman malaki yang bank fees na kailangan bayaran kung fees lang yan. Kung ganyan hanap ka na lang ng ibang financing.
Napakaliwanag po sir. Salamat at nagka-idea na ako about sa ganitong mga bagay.
Thank you
Miss u idol
Hi Sir good day po, ask lang po need po ba magopen ng account ni AIF sa approved na bangko for loan?.. for example BPI po siya pero sa BDO na approve. Salamat po.
If meron ka nman BDO account, so in your account nalang idedebit.. pero if wla ka BDO, un AIF mo must open a Bdo acct.
Thanks for sharing, very helpful and informative.
Madami talaga hindi nadidiscuss yung mga agents pati pa ung loan agents ng bank. Thank you for this video sir. Tapos nako sa DP now pa-apply na sa bank financing kaso sobrang laki nang magiging monthly kaya I am very worried about it.
How about fiancee ang co borrower ok lang ba?
Yes that is ok
sir can you elaborate rent to own and bank financing? And why they are offering as first option when im inquiring? Is rent to own and bank financing the same? Thank you boss
Please I'm a Nigerian 🇳🇬 I just bought a 1bedroom unit with smdc, if I'm done with my down-payment can I lend a loan from a bank in Philippines 🇵🇭 that's my worries now...
So glad, i found your channel.
I can't seem to find the vlog po paghindi na approve yung bank financing. Pa help po.
If di maapprove sa bank loan financing. You have another choice which is in house financing. In house financing is 14-16 %. If ayaw mo you can get a 50% refund nung nabayad mo na if you are paying morethan 2 years.
Sir paano po kng d maaprove ng bank? Any other option kng wlang pang cash? May rerefund po ba?
Try in house financing
Hi Sir Will. Do you need to pay first the equity bago may bank approval?? I made a reservation sa condo unit pero pinagbabayad na ako ng equity na wala pang bank approval tas pag di binayaran, may penalty.
Yes, if ang nakuha mo ay pre selling condo, need mo to pay the equity.. Then the bank loan application will follow.. usually 1 year before matapos ang condo, dapat nag aaply kna for loans.
Sir question. Mag email ba si bdo na for forclosed na ang condo? Wala kasi ako narereceived naemail so Diko alam if forclosed na kasi baka binabayaran ng tatay ko kasi ung monthly payment kaso po di kami Nag uusap kaya Diko alam if forclosed na
Hello sir. May continuation na po ba nitong blog?
Sir bk may idea kayo ano bank pinaka mbaba ang interest at mbilis aporoval??
Chinabank..
Hi Sir Will! I started my condo investment in September 2019 and I'm learning more from you! Salamat Sir very helpful yung mga videos niyo
Thank you 🙂
Hi! Love your videos. Can you please make a video for WFH/freelancers who want to invest in real estate? They actually earn a lot but they have a lot of questions with regards to financing because they usually lack requirements/ have problems on getting approved. Really hope you’d consider. Thanks!
Thank you for watching 🙂 pls dont forget to subscribe. Thank you for the suggsstions, will try to make a video for that. 🙂
@@willblanza-realtytv up
Up
up
Hiring pa po kayo sa freelancer?
Ito ang hindrance sa aking pangarap kahit gustong gusto kong magka roon ng Condo unit. Dahil sa asawa kong may kabit na kinakasama na sa bahay ko Sir need ba talaga ng cooperation ng asawa khit sumakabilang bahay na.? Grabe sagabal sa aking pangarap. Yan yung sana ay mabago sa mga requirements lalo sa kagaya kong OFW na gusto talagang ianagat ang sariling buhay kahit nag iisa .
Magkaiba po ba ang housing loan at condo loan
Almost the same procedure po.
Usually kelan nag apply for bank loan?
kasi 4months ko palang nag huhulog for the developer then kelan ka mag apply for bank loan? 54'months to pay kc yung sa developer ko
Totoo po bang hanggang 6 months lang ang tinatanggap ni bank sa SPA?
Not sure.. better ask un Bank kung saan ka nagloan.
There's no red ribboned consularized docs in the northeast of USA anymore. I had mine apostilled as per Phil Consulate.
I think that will do 🙂
Hi Sir,
Paano kung naka loan ka sa isang bank sa 1st condo mo pwede bang magloan ka uli para sa 2nd condo mo...
Yes pwede po.. just like me I have 3 condo loans now sa BDO.
Sir di po ba mas maganda na yung 10yrs nalang kunin as long as its less than the rental income, para mas lower yung interest kasi sinisave nyo nalang din yung sobra from the rent so why not get the lower interest rate as long as di kayo nagaabuno.
Yes its also a great suggestion.. depende sa capability mo magbayad.. In my case, mas comfortable ako na maliit lang hinuhulugan ko.. Ang nagagamit ko din kasi un cashflow to invest more properties.. Like for example, if I have a P10,000 cash flow, I can start again to invest in another pre selling.
@@willblanza-realtytv in that case sir, its a good idea. Nalito lang ako sa sinabi nyo na parang sinisave nyo yung cash flow income nyo para in the end after certain years fully paid nyo na sya, so you’re not really gonna invest it to pre sold condos kung ginamit nyo yung cashflow income nyo para ipay off yung nabili nyo nang condo after 5-10 years of paying it monthly. Does that makes sense sir? Unless you have other source of income para yun yung gamitin nyong investment for new condo units.
Kung i papayoff mo.di ba magdadagdag interest ang banko kc 20 yrs ang inapplayan mo?
Good idea Po sir. Magkaruon Ako idea
❤️
Sir Will. I have a question po. If in the initial contract eh tatlo ang owner ang nakapirma. Sa pag turnover ba or pag kuha ng loan kailangan 3 pa din ang mag apply ng loan? What if all three owners eh hindi na filipino citizen. Paano po gagawin sa SPA? Need p din ba pumunta sa consular embassy para Sa red ribbon
Sir makaka tulong ba sa bankloan approval Kung meron Kang 2 condo unit na binabayaran?
Makakatulong if pinapa rent nyo po un condo, pwede maka add as additional income.
Bdo ako nkapgbankfinancing sobra hirap dumaan ako sa butas ng karayum bgo naaprove
Totoo b un me mga issue. S shore s mga agents. Being dishonest to their client!?
Excellent explanation 👏👏👏good job !
Thank you 🙂
Naku, iyan ang mga kasalukuyan kong ginagawa...mga requirements ng BDO for my SMDC Air Residences unit with turn-over this July...magpapa-notarize/consularize na ko sa June 18. Magbabayad nga ako ng mahigit 108k pesos for BDO bank fees...Salamat sa mga vlogs mo.
Welcome po 🙂
@@willblanza-realtytv Eventually I will message you on facebook on my day off....thank you very much.
Sir tanong ko lang po, ang turn over halimbawa ng unit is next year pa pero yung bank loan po nag apply na ako, kung maapprove po ba ako, agad ba nila istart ang bank financing o upon turn over ng unit?
Bank Loan will start after you finish the intallment from SMDC. But its good na mag apply ka earlier para malaman mo if approved ka
@@willblanza-realtytv well noted sir. Thank you sa prompt response. It's my first time to apply bank financing kaya medyo madami akong tanong. 😅
Thank you so much sir. Rektang paliwanag. Swabe walang arte.
Keep it up!
Boss tanong ko lang.example po nag down ka na ng 15% tapos nka pay ka nrin ng mga 10months(di pa fully pai/ current’y paying monthly). Pwede mo ba ibenta yung condo or di pwede. If pwede ibenta ano mga needed/requirements?
Sir ikaw na rin po ba nagmamanage ng mga condo properties na nabili mo? or meron ka pong inassign na property manager.
Yes I personlly handle the leasing of my own property.. but sometimes i connect with other agents, para they can also advertise or offer sa mga renters nila.
Hi sir question what if yung bank loan direct sa condo owner possible po ba yon? Thank you in advance
Thank you nkakuha ako idea
Hi currently starting my first condo in smdc. Diba po usually if nagloloan sa bank, 80% of condo price lang ang pde mo mahiram? Ung remaining 20% kailangan bayaran ng owner by the same time magsisimula ka na sa bank loaning?
So say for instance ung 3.8M na balance ko sa smdc, magdodown pa ako 760k (20%) ng hihiramin ko kasi 3.04M lang ung ipapahiram ng bank?
@@jeancarlovalero9791 gnyan ung sitwasyon ko ngyon kya d ko alam ggwn ko
Can u discuss pertaining to maximum age where the loan should be paid
BDO dapat di mag reach si borrower ng 70 at the time of loan maturity
Hello, ano pong best bank to get yung home loan mo po?
BDO
Sir tanong ko po, ngapply na kmi ng loan sa Bdo tpos na decline xa dahil d dw enough yung sahod tas ngadd ako ng co-borrower mtgal ba process nyan? Nov pa ksi ako ngadd ng co-borrower hanggang ngayon wla pang response. Sabi lng processing pa for interview. Okey lng kaya na mgapply nlng ako sa ibang agent? Or ibang bank?March na ang due date extension na kasi xa. Hope you can help me sir. 🙏
SIR . pwede po ba mg advance payment sa bank financing?
Hi po
Ask ko lang what if di na approve then nakapagbayad kana ng reservation fee and downpayment, what will happen po?
Thank you.
Very good question sir! Pasagot po sir Will. Ty
23K minus water& Electricity plus condo dues
Thank you sir sobramg clear ng explanation.
Pano po pag Preselling. Wala pa sa bank finance, nasa developer kapalang nagbabayad ng downpayment tapos bigla kang namatay or nagkasakit DMCI po developer pano po un?
hi sir good day.. ask ko lang po kung pwede po bang mag early apply ng bank loan kahit may 1 year pang natitira sa 20%dp? para malaman ko po kagad kung ma aaprove ako. thanks sir more power...
Yes, pwedeng pwede po.. I recommend BDO 🙂
Will Blanza - Realty TV boss will thanks a lot. i always watch your vlog..
Sir e kung di ka maapprouve but kaya mo nmnbayaran yung monthly dahil sa work mo nman ok sya at bayad ka nman ng full DP
Kung nasa 2.7 M po ang illoan sa bank magkano po dapat monthly income?