Home LoansCredit and LoansReal EstatePersonal Finance

Wanted: Housing Loan Provider(2-min read)

Despite all the traffic madness, many Filipinos still believe that owning and having a place to call home is a good investment, wherever or how far it may be.

May it be a small dwelling in the Metro (or if you have extra money maybe a condo?) or a bigger one in slightly farther places such as Cavite, Bulacan or Rizal areas. Or personally a dream house in the province, surrounded by small farm and fruit bearing trees. Life.

And we agree. Nothing beats having your own home, coming from me whose family rented for 22 years until finally, God smiled on us and enabled us to avail of a decent home in Rizal (and eventually a condo in Taguig).

Saving up to buy a house in cash is a very long shot option for most of us, in fact it might even be not a feasible option at all given the time needed to save up for such amount. Therein comes home financing, home loan, housing loan, whatever you want to call it.

Many years ago, the much younger me wrote some pieces about where to get a home loan, based on my personal experiences in availing of a housing loan for the property in Rizal. Caveat here, I am not a real estate broker (though I almost became one). These learnings came in handy when we were once again looking for mortgage loan options for the condominium. If you are in search of a loan provider, these articles might come in handy too:

HOW AND WHERE TO GET A HOME LOAN IN THE PHILIPPINES

8 EASY STEPS TO GET A HOME LOAN IN THE PHILIPPINES

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Further, iMoney.ph was kind enough to get in touch with us and share with us another related article, and probably a more updated one. For your reference, here’s the link:

KEY DIFFERENCES BETWEEN A COMMERCIAL BANK, SSS AND PAG-IBIG HOUSING LOANS

A few days ago, a soon-to-be-neighbor got in touch with us through our Facebook page to inquire about this: how and if he will be able to afford a mortgage loan to finance the balance of his soon-to-be-turned-over-condo. He was inquiring about the usual requirements, the usual bank approval process, and was a bit concerned if he is approvable for a loan given his monthly income, the nature of his job etc.

I congratulated him though for the grit and balls to invest on his future through a place he can call his own soon. And I wish him a richer life, and good tidings that hopefully, he can find the best loan provider for him.

Eboy, this is for you. We all deserve a place to call our own, and hopefully, we find that place and the financial literacy and leverage to make it happen.

May all Pinoys have richer lives!

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