Author Topic: Home Loan : Bank vs Pag-ibig  (Read 16216 times)

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remetrade

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Home Loan : Bank vs Pag-ibig
« on: Feb 17, 2012, 02:46 PM »
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we have already placed our reservation and start our equity - thinking which financing would be a good option for us to save time and money

- as i have read other topics and spent time with my best friend google seems to me that PS Bank have the lowest fixed interest rate per anum @10.75 for 25 years other banks have 11.x%. what other bank currently giving a competitive interest rate for home loan?

- from http://www.pagibigfinancing.com/ rate interest if i would want to loan 1M was 8.5% which would give me on my based computation with monthly MA of P7,689.xx for 30 years. was this the right MA or it would include additional other fees?

- our agent/broker advised was to go for Bank financing instead of Pagibig which have lower interest? was she only telling me this to get extra cut :D if i go with their accredited bank

- the TCP of the property is 1.5M - what am i thinking was to pay the 50% and loan the 50% remaining as i don't have enough cashflow to do the spot cash payment. was this a good call in my case?

- have also read that there are banks that would offer as low as 5.x% per anum for home loan but would do a reprice after each term. do you think this is a good option as they have said that for the past 20-30 years (which was around 20% per anum) home loan bank interest trend was declining?

clarifications and suggestions would be a great help for me, as i am acquiring our first small blissful house :D

cheers!

KERSMcPherson

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Re: Home Loan : Bank vs Pag-ibig
« Reply #1 on: Apr 15, 2012, 02:25 AM »
if you have a steady job (job security), better to go with the banks. even if they reprice every year or for a fixed period (5, 10, 15 yrs). Banks offer lower rates. If you can make a 50%dp, then you should shorten your loan term, maybe a 5 yr max.

Pag-Ibig is better just in case you encounter financial problems. hindi ka mapapalayas sa iyong bahay ng basta-basta. Unlike sa banks- everything is about money.

kcmendoza

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Re: Home Loan : Bank vs Pag-ibig
« Reply #2 on: Aug 22, 2012, 06:37 PM »
Guys, if you have any updated rate for Home loan rate in bank financing please share

pmtmember

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Re: Home Loan : Bank vs Pag-ibig
« Reply #3 on: Aug 22, 2012, 08:23 PM »
hmmm i always thought Pag ibig is the cheapest? Also I would rather go for long term even if I have money. Kasi in long term scenario, yong monthly dues mo after 10 years magiging maliit na value niya. For example if I have a due of 10,000 per month in 10 years time 10K pa rin dues mo tapos very affordable na siya. So yong pang 50% downpayment ko gamitin ko nlang sa business :)

Thats just me.
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arts24

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Re: Home Loan : Bank vs Pag-ibig
« Reply #4 on: Oct 16, 2012, 05:23 PM »
what i'ved heard from other people and i don't know if is't true correct me if i'm wrong, that in case the member of pag-ibig died or deceased the outstanding loan will be 100% fully paid and the property will be given to beneficiary. I'm not saying na gawin reason ang pagkamatay ng member para lng makuha ang property but in the other side for security reason na magkaron ng bahay at lupa na para sa family ay isang advantage para sa member, alam naman natin hindi natin hawak ang buhay, anong oras man ay pwedeng bawiin ng Diyos, so in my point of view may advantage naman sa pag-big at kahit 30 years to pay pa yan.. maliit lng ang binabayaran at may refund pa makukuha every year.. just my two cents.
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pmtmember

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Re: Home Loan : Bank vs Pag-ibig
« Reply #5 on: Oct 16, 2012, 05:33 PM »
what i'ved heard from other people and i don't know if is't true correct me if i'm wrong, that in case the member of pag-ibig died or deceased the outstanding loan will be 100% fully paid and the property will be given to beneficiary. I'm not saying na gawin reason ang pagkamatay ng member para lng makuha ang property but in the other side for security reason na magkaron ng bahay at lupa na para sa family ay isang advantage para sa member, alam naman natin hindi natin hawak ang buhay, anong oras man ay pwedeng bawiin ng Diyos, so in my point of view may advantage naman sa pag-big at kahit 30 years to pay pa yan.. maliit lng ang binabayaran at may refund pa makukuha every year.. just my two cents.

I think that is correct to some extent
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Quiz

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Re: Home Loan : Bank vs Pag-ibig
« Reply #6 on: Nov 04, 2012, 02:21 PM »
what i'ved heard from other people and i don't know if is't true correct me if i'm wrong, that in case the member of pag-ibig died or deceased the outstanding loan will be 100% fully paid and the property will be given to beneficiary. I'm not saying na gawin reason ang pagkamatay ng member para lng makuha ang property but in the other side for security reason na magkaron ng bahay at lupa na para sa family ay isang advantage para sa member, alam naman natin hindi natin hawak ang buhay, anong oras man ay pwedeng bawiin ng Diyos, so in my point of view may advantage naman sa pag-big at kahit 30 years to pay pa yan.. maliit lng ang binabayaran at may refund pa makukuha every year.. just my two cents.

yup its true, 100% of the remaining balance will be cancelled once the PRIMARY pag-ibig member die. I have a pag ibig loan and it is written in the contract. What's more interesting is you could get the longest term and pay the remaining balance once you have the cash. E.g, you loan 1m and decided to pay for it in 20 years (12% interes), after 5 years you decided to pay all the remaining balance, they will recompute the balance using the 5 year rate (8.xx%)
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abisoft

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Re: Home Loan : Bank vs Pag-ibig
« Reply #7 on: Nov 30, 2012, 03:22 PM »
In comparison, PagIBIG offers lower interest rates and Banks gives better customer service, not to mention quicker loan approval.

Some developers have pre-agreed interest rates and appraisal percentage with the banks. But make sure first that you are qualified for a bank loan.
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djose09

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Re: Home Loan : Bank vs Pag-ibig
« Reply #8 on: Mar 13, 2013, 02:36 PM »
Hi mga Ka-PMT sa pag-ibig kasi aq nakaloan but single lang aq first timer at nalalakihan aq sa mortization since 8k un a month at nanghihinayang aq sa interest gusto ko maximize ung pera ko so i heard sa bank daw pagnagaadvance payment ka sa principal possible na lumiit din ang amortization mo unlike sa pag-ibig fix na xia ng 30years. I ask if this advisable to ipatransfer ko ang loan ko to bank? pls. help thank you all!

kulatir

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Re: Home Loan : Bank vs Pag-ibig
« Reply #9 on: Mar 25, 2013, 06:01 AM »
Hi mga Ka-PMT sa pag-ibig kasi aq nakaloan but single lang aq first timer at nalalakihan aq sa mortization since 8k un a month at nanghihinayang aq sa interest gusto ko maximize ung pera ko so i heard sa bank daw pagnagaadvance payment ka sa principal possible na lumiit din ang amortization mo unlike sa pag-ibig fix na xia ng 30years. I ask if this advisable to ipatransfer ko ang loan ko to bank? pls. help thank you all!

pwede ka rin naman mag advance payment sa pagibig automatic ung inadvance mo sa principal mababawas,kaya iikli ung paying time mo. Yung loan ko sa pagibig every three years may repricing,ang plano ko mag advance ng kahit 2k every month,pero ang gagawin ko invest ko muna ung 2k every month sa stocks then pag malapit na magreprice tsaka ko ibabayad lahat ng dapat na pang advance ko,at least pwedeng kumita muna yung pera ko bago ko mapa bayad sa principal...

djose09

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Re: Home Loan : Bank vs Pag-ibig
« Reply #10 on: Mar 25, 2013, 12:28 PM »
pwede ka rin naman mag advance payment sa pagibig automatic ung inadvance mo sa principal mababawas,kaya iikli ung paying time mo. Yung loan ko sa pagibig every three years may repricing,ang plano ko mag advance ng kahit 2k every month,pero ang gagawin ko invest ko muna ung 2k every month sa stocks then pag malapit na magreprice tsaka ko ibabayad lahat ng dapat na pang advance ko,at least pwedeng kumita muna yung pera ko bago ko mapa bayad sa principal...

@Kulatir pede ko bang tanunging kung ilang years ka ng magbabayad at magkano ang monthly mo pagnagreprice posible din lumiit ung amortization mo?

kulatir

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Re: Home Loan : Bank vs Pag-ibig
« Reply #11 on: Apr 09, 2013, 06:59 AM »
@Kulatir pede ko bang tanunging kung ilang years ka ng magbabayad at magkano ang monthly mo pagnagreprice posible din lumiit ung amortization mo?

1 year pa lang akong nagbabayad,as of now 7% ang interest. Ang nakalagay sa contract ko sa pagibig magrereprice cia every 3 years,the percentage will depend on current market on that year but not greater than 9%. So,pag nagreprice posibleng lumiit amortization mo lalo na kung nag aadvance payment ka.

I don't know if this chismis is true na nabasa ko sa ibang forums,twice na lang daw pwede mag advance payment of principal sa pagibig,yan daw ang bagong policy nila,is it true? malaking kalokohan to kung ganyan ang ruling na gagawin nila,maghahalo ang balat sa tinalupan pag nagkataon. Further clarification guys.

djose09

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Re: Home Loan : Bank vs Pag-ibig
« Reply #12 on: Apr 09, 2013, 05:42 PM »
1 year pa lang akong nagbabayad,as of now 7% ang interest. Ang nakalagay sa contract ko sa pagibig magrereprice cia every 3 years,the percentage will depend on current market on that year but not greater than 9%. So,pag nagreprice posibleng lumiit amortization mo lalo na kung nag aadvance payment ka.

I don't know if this chismis is true na nabasa ko sa ibang forums,twice na lang daw pwede mag advance payment of principal sa pagibig,yan daw ang bagong policy nila,is it true? malaking kalokohan to kung ganyan ang ruling na gagawin nila,maghahalo ang balat sa tinalupan pag nagkataon. Further clarification guys.

I think ser dis not true kung magkaganto expect na malulugi na ang pag-ibig fund at most the people mas pipiliin nalang ang bangko kesa sa kanila.

 


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