Author Topic: sanggla to the bank  (Read 1079 times)

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Offline bayan

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sanggla to the bank
« on: Mar 19, 2017, 11:33 AM »
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HI fellows,

Good day,ask ko lang po I Have a lot in our province and I wanted to borrow money in the bank making my land as a collateral to erect a building to be rented out and yung kita is to pay amortization and passive income but when I approached one of the bank in our province it says that they stop financing now.My questions is ,Is it difficult to borrow money to bank to finance my planned  building and do you know some bank whom I can approached ..?thank you po.... :cool2:

Offline Thomas

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Re: sanggla to the bank
« Reply #1 on: Mar 19, 2017, 07:22 PM »
They look at your paying capacity too, because they don't like to end up with Foreclosed properties.

Banks:
Depend much of what contacts you have with them before.
REGULAR income.
Recomendations!!! from people the bank know.
Some banks are harder than other. Ask more banks.

Pag-Ibig:
If it is a town/city
and if you have qualified,
then you have good chance there, I believe.
TELL them you are building a house - but don't tell for rent out if they don't ask - because their purpouse is to make it possible for Filipinos to get a home.

Offline Derfnick

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Re: sanggla to the bank
« Reply #2 on: Mar 20, 2017, 10:06 AM »
you can try yung Housing Loan
sa PAGIBIG -
or sa SSS -https://www.sss.gov.ph/sss/appmanager/pages.jsp?page=dhwomdetails
or kung OFW ka pwede din mag loan sa OWWA 7.5% lang per annum

Offline angeljme

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Re: sanggla to the bank
« Reply #3 on: Mar 20, 2017, 11:47 AM »
BPI, they call it Equity Loan, where you'll use land title as collateral.  Minimum loan is 500K.  Last time I checked (2yrs ago), nasa 6.5% to 7% per annum ang rate nila for this type of loan, payable in 5yrs.
Sila ang pinakamababang nakita ko offering this type of loan.  I asked BDO and they didn't take the title as collateral.  Gagamitin ko sana ang proceeds for house finishing.  What they wanted me to do was a home loan; which I can't do since the house is already on loan with a different bank.  What I have was a title of a different lot.

Offline bayan

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Re: sanggla to the bank
« Reply #4 on: Mar 20, 2017, 05:45 PM »
Hi maraming salamat sa mga nagreply
Pero hindi po house ang ipapatayu ko two storey building po (commercial building) to be rented by office..My apologies po di malinaw pag kaexplain ko..i think yung pag iibig o sss di tumatangga ng ganitong loan...? Tama po ba ako..? Is there any institution po ba na pwedeng mkaloan sa ganitong investment..?
« Last Edit: Mar 20, 2017, 05:47 PM by bayan »

Offline nightwatch

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Re: sanggla to the bank
« Reply #5 on: Mar 20, 2017, 06:52 PM »
I think regardless kung house or building  ipatayo mo, i collateral mo  naman ung  land.  Ang issue ko lang dito is sobrang baba ng loanable amount if land lang ung collateral.  I think 60% lang ng appraised value ng land.   E yung appraise value na bibigay nila is probably 80% lang ng "true" appraised value ng land.

Offline Thomas

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Re: sanggla to the bank
« Reply #6 on: Mar 21, 2017, 12:10 AM »
Hi maraming salamat sa mga nagreply
Pero hindi po house ang ipapatayu ko two storey building po (commercial building) to be rented by office..My apologies po di malinaw pag kaexplain ko..i think yung pag iibig o sss di tumatangga ng ganitong loan...? Tama po ba ako..? Is there any institution po ba na pwedeng mkaloan sa ganitong investment..?
I don't know of any institution.
I belive Pag-Ibig DON'T lend to commersial, because their purpouse is to add possibility to get own LIVING house.
But there are others, who lend to commersial too.
Different are big in different regions.
You wrote "province". Perhaps Landbank work there. My Saving Grace have in some regions at least farmland loans, which are kind of "commersial" because they are for earning   :)

Offline angeljme

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Re: sanggla to the bank
« Reply #7 on: Mar 21, 2017, 10:47 AM »
You can try approaching a contractor.  They usually have ways on how you can finance with them in building a commercial building.  They have tie-up banks as well.  This way, you're not only using the land as collateral but the building that would be built there as well.
Just make sure that the land where the building would be built, is also the same land title you'll use as collateral.

Offline bayan

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Re: sanggla to the bank
« Reply #8 on: Mar 26, 2017, 11:29 AM »
ThNks you sa mga nagreply..🙃🙃

Offline TulogSaPancitan

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Re: sanggla to the bank
« Reply #9 on: Mar 26, 2017, 02:07 PM »
HI fellows,

Good day,ask ko lang po I Have a lot in our province and I wanted to borrow money in the bank making my land as a collateral to erect a building to be rented out and yung kita is to pay amortization and passive income but when I approached one of the bank in our province it says that they stop financing now.My questions is ,Is it difficult to borrow money to bank to finance my planned  building and do you know some bank whom I can approached ..?thank you po.... :cool2:

depends on how much do u need. if ur lot value far exceed the cost of ur planned building, i believe many banks will be interested. but if not then u have to find loan somewhere else. say if u have lots in other places, u may sell it and invest in ur planned construction.
never underestimate the power of stupidity

Online wilch23

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Re: sanggla to the bank
« Reply #10 on: Mar 26, 2017, 03:10 PM »
Contractors don't finance your projects.
Ikaw nga financier nila ...
Downpayment before they start working ...
Progress billing pag meron nagawa ...

 


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