How to avail a Pag-ibig Housing Loan?

December 13, 2016 Uncategorized Comments are off for this post

 

Availing a housing loan thru Pag-ibig is made even simpler, there are two (2) modes in availing it.  First, the developer-assisted program, the real estate developer will be the one to assist and process the member’s loan application and the second one is the retail, the member applies directly to the government’s Home Development Mutual Fund.

To qualify for a Pag-IBIG housing loan, a member shall satisfy the following requirements:

  1. On Pag-IBIG Membership:
    • Must be a member for at least twenty-four (24) months at the time of loan application.
    • A member with less than the required number of contributions, shall be allowed to make a lump sum payment to satisfy the required two (2) years contribution.
  1. Not more than sixty-five (65) years old at the date of loan application and must be insurable; provided further that he is not more than seventy (70) years old at loan maturity;
  2. Has the legal capacity to acquire and encumber real property;
  3. Has passed satisfactory background/credit and employment/business checks of the Pag-IBIG Fund;
  4. Has no outstanding Pag-IBIG housing loan, either as a principal borrower or co-borrower;
  5. Had no Pag-IBIG housing loan that was foreclosed, cancelled, bought back due to default, or surrendered.
  6. Has no outstanding Pag-IBIG multi-purpose loan in arrears at the time of loan application.

Please also take not of the following processing fees:

  • P1,000.00 – upon filing of the housing loan application with required documents (non-refundable)
  • P2,000.00 – appraisal fee, also upon filing of the loan application (non-refundable)
  • P2,000.00 – upon take-out (deducted from the loan proceeds)

 

You ought to know the requirements needed in applying for a housing loan, you may take a look at this list:

  1. Housing Loan Application with recent ID photo of the borrower/ co-borrower;
  2. Proof of income;
  3. One (1) valid ID of the principal borrower and spouse, co borrower and spouse;
  4. Transfer Certificate of Title (TCT), it must be the latest title and be a certified true copy.  For condominium unit, TCT of the land and Condominium Certificate of Title (CCT), both certified true copies;
  5. Updated Tax Declaration (House and Lot) and Updated Real Estate Tax Receipt;
  6. Contract to Sell or similar agreement between the buyer and seller.
  7. Vicinity Map/Sketch of the Property.

Even if you are outside the country, you can now apply a housing loan by visiting the link below: http://www.pagibigfund.gov.ph/housingloan/

We at Gabriel Realty & Brokerage are hoping that this little information may guide you in availing a housing loan at pag-ibig and have the opportunity to own the house or condo of your dream!

Decided to buy a property? Contact us at (+63) 943.312.5445 and let’s discuss how can we help you on your real estate needs.

 NOTE: PROTECT YOUR INVESTMENT, DEAL ONLY WITH LICENSED REAL ESTATE BROKERS.

COCOY M. TOLEDO, LL.B.
Licensed Real Estate Broker
PRC Lic. No. 0020332

RICHEL PARADIANG-TOLEDO
Licensed Real Estate Broker
PRC Lic. No. 0020331

 

 

 

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10 Tips in Buying a House

December 13, 2016 Uncategorized Comments are off for this post

As one of life’s biggest and most rewarding experiences, buying a house is something you want to get right. Here’s the top 10 house buying tips to help you find success in your property investment.

  1. Don’t rush in

 There’s no hurry. Get prepared first.

One thing you can do is a comparative analysis. This means setting a certain time period – say a few months – and gathering up as much data as you can on properties for sale in the area you are looking at.

This should include the area or suburb you are specifically looking into, as well as a few suburbs surrounding.

One approach is to draw up a spreadsheet of features – bedrooms, amenities, size etc – and put in both the ask price and the sale price (where available).

This will not only give you a good understanding of the market, it will give you some figures to let estate agents know you’ve done your background research.

  1. Get finance first

 It’s generally a big mistake to head into the marketplace before you know your price limit or even whether you have finance.

Agreeing to take a property even informally, pre-contract, can cause problems if you realize you don’t have the money to cover it.

For instance, waiting for finance on your dream property can give others who do have finance, a chance to duck in and sign for it while you’re in limbo.

  1. Read the fine print

 Whether you are buying for investment or your first home, the deal’s details should be held up to a strong light.

Contracts have a way of becoming incomprehensible, so make sure you give yourself time to get the fine tooth comb out to investigate every word, assumption, expectation and number.

And find out your rights. Many contracts have an opt out or cooling off period. If they don’t then you should ask why and consider seriously whether you still want to sign.

  1. Set a ceiling and don’t smash it

 Just as any home needs a roof, so do those who are buying it – a financial roof that is. It can be easy when the blood is flowing and the auction hammer is dropping to let emotion over-ride the numbers. Don’t let your emotions rule your decision, let numbers rule it.

  1. Know the system

 This advice builds on the one above.

For instance, know that buyer agents and selling agents are quite different and will have quite different approaches to your business. You need to know which is which.

You should also get familiar with real estate lingo. This can mean actual architectural terms including the fuzzy ones like “renovator’s delight”. It’s also worth noting: terms change in different countries – a colonial kitchen in the US is very different to one in Australia.

A good understanding of the real estate market will help you ask good questions and that’s vital.

  1. Do inspections

 Part of your budget should be to pay for home inspections. If you’re thinking of bidding for a place or making an offer, it’s essential you know about what problems a place may have.

Big problems will, of course, add costs to your household budget and may affect your ability to repay your mortgage. Even small ones may put that new furniture, or pool you were hoping for out of range.

Get a property inspection report first and then see if the vendor is willing to negotiate downwards to factor its findings in.

  1. Check on other costs

 Buying property includes some costs which should be added onto the actual price. As noted above, inspections should certainly be part of that. Shifts in interest rates should also be factored into your planning and managed as best as is possible. Fractions of a point up or down can make things a whole lot cheaper or steeper than you’d otherwise expect.

Other possible extra costs like commuting to/from work from your new place, school or shops, rates and body corporate fees, utility costs should also make their way onto your budget spreadsheet.

  1. Develop your style

 What kind of persona do you want to put out there? What is your negotiating approach? How can you do business and feel comfortable with yourself?

To some extent this is about setting some personal values. But it’s also about how you feel you can best succeed using your strengths and not having your weaknesses exposed.

  1. Give yourself some wriggle room

 It is prudent to set a ceiling on your buying price. It’s also a good idea to set a floor.

But, sometimes it is worth going outside of the range if a) you can afford to and b) a cheaper home is perfect. You don’t want to miss those chances.

So, be a bit flexible and don’t be afraid to allow your price parameters some wriggle room.

Discipline still plays its role here though and you should know what price you simply cannot go over, or under.

  1. Keep up

 There are developments in real estate all the time. So, it pays to subscribe to a news feed on real estate news so that industry and market news is at your fingertips.

Doing so will allow you to act quickly when circumstances require it and to drop in real estate terminology so that agents know you are serious and not to be messed with.

Decided to buy? Contact us at (+63) 943.312.5445 and let’s discuss how can we help you on your real estate needs.

 NOTE: PROTECT YOUR INVESTMENT, DEAL ONLY WITH LICENSED REAL ESTATE BROKERS.

COCOY M. TOLEDO, LL.B.
Licensed Real Estate Broker
PRC Lic. No. 0020332
RICHEL PARADIANG-TOLEDO
Licensed Real Estate Broker
PRC Lic. No. 0020331

 

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Why Choose Gabriel Realty?

September 6, 2016 Uncategorized Comments are off for this post

Gabriel Realty & Brokerage, a Cebu, Philippines based realty firm, is jointly managed by young, dynamic, and trustworthy couple COCOY M. TOLEDO and RICHEL PARADIANG-TOLEDO, who are both competent licensed real estate brokers.

Gabriel Realty also has a pool of lawyers and para-legal officers on its team to help clients on their legal concerns and problems.  Atty. Wilfredo S. Toledo, father of the managing brokers, and Atty. Juris Angeli Toledo, sister of the brokers, are very enthusiastic to assist Gabriel Realty’s clients.

Gabriel Realty is actively selling in almost all real estate projects in Cebu i.e. Condominium units, Subdivision house and Lots, Industrial, Commercial, Residential, Farm, and Beach Lots, Raw lots for developments, and Warehouses.

Since its inception last June 28, 2014, Gabriel Realty is now making waves in the real estate industry and is fast becoming the Realty Star in Cebu. Its number one asset is the efficient and fast service to its clientele.

Its managing brokers firmly believe in the old adage about customer service: “To give real service, you must add something which cannot be bought or measured with money, and that is SINCERITY and INTEGRITY”.  So, that answer the question, why choose us? Because in all its dealings, they are always sincere and honest, especially when it involves real estate property prices and other money matters.  True enough, plenty of their very satisfied customers are giving us referrals and some are asking for advises even outside the coverage of real estate topics.

At present, they are strengthening their on-line presence in order to cater to a much wider customer base and at the same time they are widening their scope of expertise, aside from marketing, listing, and selling real estate properties, they are now catering services like land titling, rentals and lease, and property management.

Gabriel Realty and Brokerage is truly and will always be your dependable partner in all your property needs.

They can be reached at the following contact details and please don’t hesitate to call them anytime at your convenience:

+63 943 312 5445 / +63 995 101 9010 (Viber/ WhatsApp/ Signal/ WeChat) or EMAIL us at: [email protected] or visit our FB PAGE at https://www.facebook.com/gabrielrealty/

WILFRED LUCAS “COCOY” M. TOLEDO, Juris Doctor
Licensed Real Estate Broker
PRC License No. 20332, valid until Nov. 9, 2024
DHSUD CR NO. R7-B-03/20-0833, valid until Dec. 31, 2022
PTR No. 5999655, valid until Dec. 31, 2022

RICHEL PARADIANG-TOLEDO
Licensed Real Estate Broker
PRC License No. 20331, valid until Dec. 31, 2024
DHSUD CR NO. R7-B-03/20-0835, valid until Dec. 31, 2022
PTR No. 5999656, valid until Dec. 31, 2022

WARNING: Avoid fly-by-night agents, DEAL only with competent licensed real estate brokers to protect your hard-earned money!

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