What You Need To Know About Real Estate

 Cebu Real Estate News, Real Estate FAQ, Real Estate Guide & Tips  Comments Off on What You Need To Know About Real Estate
Sep 202014

Tips On Successful Real Estate Investing

Tips On Real Estate Investing

Tips On Real Estate Investing

Whether you are a first-time home buyer or entering the marketplace as a repeat buyer, you need to ask why you want to buy. Are you planning to move to a new community due to a lifestyle change or is buying an option and not a requirement? What would you like in terms of real estate that you do not now have? Do you have a purchasing time frame?

Here are some real estate tips from Warren Buffett, the third richest human being on the planet, who spun quite a bit of wisdom on real estate.

1. Homes Increase In Value Over Time

“It’s a totally sound premise that houses will become worth more over time because the dollar becomes worth less,” Buffett declared.

Home ownership is asking the following questions :

Are you ready? Do you know what you want? Do You Have The Money? Less money down means higher monthly mortgage payments, so most home buyers choose to buy with some cash up front.

2. Buy Low (And Now Would Be a Good Time for That)

For many investors while buying low and selling high sounds great in theory, in practice it’s hard to implement. How does one know when an asset is priced cheaply? It’s not easy to know when assets are trading at bargain basement levels. But sometimes, knowing that something has dropped a lot is enough to make it a good investment.

3. Don’t Wait Too Long To Take Advantage of Low Prices

Pre selling stage, Is this a good time to buy your first home? It depends on whom you ask.

Do you have a stable job you expect to keep? Do you have money saved for a down payment and repairs? Are you likely to stay in the house at least five years? If you’re living in a one-bedroom apartment and expecting your second child, this may be an excellent time to buy a house, before you lose your mind unless the circumstances of your life and of your community make renting a better bet.

4. Important elements to look for in real estate investing

Searching for a new home to buy including all factors in buying a home in a different place is sometimes tiring. You are not only to focus on the home structure itself but as well to the location and the establishments nearby.

Time and time once again, the leading 3 requirements with the household purchasing procedure arrives again to area, place, and location. You must consider the following factors :

  • Net to Seller. Forget price. Don’t get hung up on price. What really matters is, according to the terms of the offer how much are you going to net. Many offers include the sellers paying all or part of the buyers closing cost. Every offer should be evaluated in terms of the net amount the seller is going to receive against the current market conditions and comprehensive analysis of the house against comparable properties.
  • Timing. Does the buyers offer fit well with the sellers parameters for timing. Timing is part of evaluating offers that many buyers and sellers don’t consider strongly enough, or in some cases may let a good offer fly bye because they will not consider.
  • Risk. Is the offer loaded with contingencies for every aspect of the prospective buyers purchase or has the buyer done their homework and answered many of their questions in advance of making the offer? Many factors enter into the risk assessment, including how hot is the property in the market place? In a buyers market, an offer in hand, maybe worth a little more risk than not having any offer at all.


  • Can a real estate agent help me find a rental?
  • Advantages of condominium ownership
  • Investing in real estate rentals, most attractive ways of making good money

Basic Housing Loan Requirements

 Real Estate FAQ, Real Estate Guide & Tips  Comments Off on Basic Housing Loan Requirements
Sep 202014
Basic Housing Loan Requirements

Basic Housing Loan Requirements

Bank Housing Loan Requirements

Bank housing loan requirements and Pag ibig Housing Loan Requirements Philippines are important documents that a new housing loan applicants must know before engaging into investing in real estate rentals.

There are standard requirements asked from the applicant upon Loan Application and prior to Loan Approval.

Here are some basic documents required upon Loan Application:

  • Housing Loan Application (HLA) notarized with ID photo original copy
  • Approved Membership Status Verification Slip (MSVS) original copy
  • Certified true copy of Transfer Certificate Title (TCT) of the property by the Registry of Deeds (latest title)
  • Photocopy of updated Tax Declaration
  • Location plan and Vicinity map


If Employed or Self-employed:

  • Community Tax Certificate
  • Proof of Billing (original)
  • T.I.N. (Tax ID Number)
  • Latest pay slip of borrower and spouse (original)
  • 2 pcs HDMF Premium Contribution Certificate (original)
  • Marriage Contract or Birth Certificate (Photocopy)
  • W2 BIR form (photocopy)
  • 2 pcs Notarized Certificate of Employment with Compensation (original)
  • Post dated checks for down payment
  • 24 month Pag-ibig contribution for members. For non-members, pay 24 months contribution upon reservation


All of the above plus the following:

  • 3 pcs Notarized Special Power of Attorney (SPA)
  • Income Tax Return and W2 confirmation receipt for the last 2 years immediately preceeding date of loan application
  • Notarized Employment Contract and Employer’s Certificate of Income duly certified by employer.
    Note: All original


If in the Philippines:

  • Income Tax Return (latest)
  • Certificate of employment with compensation
  • Business Permit (if self-employed)
  • Community Tax Certificate
  • T.I.N. (Tax identification Number)
  • Bank Statement (for the last 6 months)
  • Marriage Certificate (if married) (Photocopoy)
  • Proof of Billing
  • Post Dated Checks

If Borrower is permanently abroad:

  • Federal Income Tax Return (latest)
  • Bank Statement (for the last 6 months)
  • Special Power of Atty. (SPA) (consul authenticated)
  • Certificate of Employment with compensation (consul authenticated)
  • Proof of remittance
  • Business Permit (if self employed)
  • Marriage Certificate (if married)
  • Post Dated Checks
    Note: All original except marriage certificate


Different Developers have different set of requirements so it is advisable to check with your Developer their own list of requirements.

In-house financing requirements is said to be of less hassle than Pag-ibig and Bank Financing. Usually the equity is lesser and moving in your acquired property is faster. Below are common requirements for in-house financing :

  • Credit Investigation Fee and Mortgage Redemption Insurance
  • Complete Post Dated Checks and other documents
  • Fire Insurance



Bank Housing Loan Requirements

Home Ownership Papers: Are titles and deeds the same thing? what is the difference?

 Featured Real Estate Posts, Real Estate FAQ  Comments Off on Home Ownership Papers: Are titles and deeds the same thing? what is the difference?
Jun 032013

Titles and Deeds, what is the difference?

A title is a document or evidence that you own the property or home that you have been paying off.  It can also mean that while someone else is on the property or land, an owner has the legal rights that are part of the property.  When you have a title as a piece of documentation, it will usually be matched in the records of the locality that you are at as well as by the one who has sold the property.

A deed is a similar type of documentation that will be used in the process of gaining a title.  Often times, those who are investing in real estate will receive a deed as a transaction paper to the title.  This shows that the person who will be getting the property has the right to the title as well as the right to the property.  Usually, there will be several legal factors and regulations that are bound to this type of documentation in order to make sure that the transaction is fair.


Are titles and deeds the same thing?

You cannot have one without the other. Like many other types of investments, the major thing that you will want to show at the end of the process is a piece of paper.  This is the same concept with real estate.  The type of paper that you will want to hold at the end of the loan is either a title or a deed.  This will allow you to show the locality that live in that you own the house and have paid off your loan.

When you are about to receive a title or a deed for a home or piece of property, there are several steps you will have to take.  First, a proof of insurance will have to be shown.  You will also need copies that prove that you bought the house.  The person who is selling you the home or property will also have to have these proofs for purchase.  This includes a purchase agreement, invoices, receipts from the mortgage and proof of satisfaction that the one who is buying the property has met all of the requirements for purchase of the property.

The last step to making your home completely yours is to make sure that you have the title or deed in your hand.  By understanding the process of getting a title, and making sure that you walk into the final closing ready to make the exchange, you can own the piece of property that you have been working towards.



How To Check If You Are Qualified For A Pag-IBIG Housing Loan?

 Featured Real Estate Posts, Real Estate FAQ, Real Estate Guide & Tips  Comments Off on How To Check If You Are Qualified For A Pag-IBIG Housing Loan?
May 282013
pag-ibig housing loan qualification

You can personally determine if you are eligible for a housing loan based on the following:

Your Pag-IBIG Membership Status

  1. You must be an active Pag-IBIG member for at least 2 years and has contributed a minimum of 24 monthly contributions.
  2. Both the principal borrowers are subject to the above mentioned requirement.
  3. Up to three Pag-IBIG Members may avail of a single housing loan (same collateral) provided they are related within the second civil degree of consanguinity.TIPS: If you have been moving from one company to another, always make sure that you consolidate your Pag-IBIG contributions past and present. Don’t be in a hurry to get a housing loan. You need to establish a good record so that your application will be easier by the time you do it. To re-activate your Pag-IBIG Membership is very simple: just pay for the monthly contribution.

Your Age

  1. You must not be more than 65 years old at the time of loan application.
  2. You must not be more than 70 years old at the date of maturity.
  3. You must be insurable.
    NOTE: Advanced age really is a hindrance to getting a housing loan. And take note that this is true whether you are using Pag-IBIG or any Bank.
    TIPS:If you can afford it, apply for a housing at a young age.

Your Capacity To Pay

  1. Pag-IBIG Housing Loan Interest
    As a general rule, your monthly amortization should not exceed one-third of your gross income. This is the rule used by many financial institutions when qualifying a loan applicant.
  2. Pag-IBIG Financing
    Your monthly amortization (principal + interest) should not be more than 40% of your Net Disposable Income.

    • Have your finances in order by saving enough for the Down Payment (or Equity).
    • You need to show some proof of income. Prepare the following documents: Pay Slips, Income Statements, Employment Contract (with indicated salary).
    • If your income is insufficient, you may take on a relative (within the second civil degree of consanguinity) or your spouse and tack-in your contributions then apply for a housing loan.

Other Pag-IBIG Loans

  1. You are only allowed one Housing Loan at a time. If you want to take another one, you have to pay your existing loan.
  2. If you have previously availed of the housing loan, make sure that it was not foreclosed, cancelled, bought back, or subjected to dacion en pago.
  3. If you have an outstanding Multi-Purpose Loan, your payments must be updated and it must not be in arrears at the time of application.


Steps on How to Apply for a Pag-IBIG Housing Loan

 Featured Real Estate Posts, Real Estate FAQ, Real Estate Guide & Tips  Comments Off on Steps on How to Apply for a Pag-IBIG Housing Loan
May 282013

how to avail housing loan thru pag-ibig

Here are the Step by Step Procedures When Applying for a Pag-IBIG Housing Loan

  1. Attend a loan counseling session at the Pag-IBIG office and accomplish the following forms:
    • Preliminary Loan Counseling Questionnaire
    • Housing Loan Application (HLA)
    • Membership Status Verification Slip (MSVS)
      If eligible secure Checklist of Requirements (COR), requirements would depend on the loan purpose.
  2. Submit HLA with complete requirements, and pay the processing fee of P1,000 (non-refundable).
  3. Receive Notice of Loan Approval/Letter of Guaranty and sign loan documents.
  4. Proceed to the following:
    • Bureau of Internal Revenue for payment of documentary stamps and capital gains tax
    • Registry of Deeds for transfer of the title and annotation of mortgage
  5. Submit the following documents to Pag-IBIG for the release of loan proceeds:
    • Original Transfer Certificate of Title (TCT) in the name of the applicant with annotated mortgage
    • DOAS with original RD stamp
    • New Tax Declaration in the name of the applicant
    • Updated Real Estate Tax Receipt (for house and lot, if applicable)
    • Occupancy Permit (secured from LGU Engineering Office, if applicable)
    • Assignment of Loan Proceeds
  6. Pay the first monthly amortization on the month immediately following the loan take-out/final loan release.

Pag-ibig Housing Loan Frequently Asked Questions FAQs

 Real Estate FAQ, Real Estate Guide & Tips  Comments Off on Pag-ibig Housing Loan Frequently Asked Questions FAQs
May 282013

pag-ibig faqWho should register with the Pag-ibig Fund as Members?

With the signing of Republic Act No. 9679, membership to the Fund shall be mandatory for the following:

  1. All employees, workers, professionals, officers and companies who are compulsorily covered by the SSS and GSIS
  2. Uniformed members of the Armed Forces of the Philippines, the Bureau of Fire Protection, the Bureau of Jail Management and Penology, and the Philippine National Police;
  3. Overseas Filipino Workers (OFWs)
  4. Filipinos employed by foreign-based employers, whether deployed locally or abroad.Membership to the Fund is also open to the following:
  1. Non-working spouses of Pag-IBIG members;
  2. Filipino employees of foreign government or international organization, or their wholly-owned instrumentality based in the Philippines, in the absence of an administrative agreement with the Fund;
  3. Employees of an employer who is granted a waiver or suspension of coverage by the Fund under RA 9679;
  4. Leaders and members of religious groups;
  5. A member separated from employment, local or abroad, or ceased to be self-employed but would like to continue paying his/her personal contribution;
  6. Public officials or employees who are not covered by the GSIS such as barangay officials; and
  7. Filipinos naturalized in other countries.

How Much is the monthly contribution?

With the signing of Republic Act No. 9679, membership to the Fund shall be mandatory for the following:

Monthly Compensation              Percentage of Monthly Compensation

                                                                  Employee Share         Employer Share
P1500 and below                                         1%                                     2%
Over P1500                                                   2%                                    2%

The maximum monthly compensation used in computing the employee contributions is currently set at P5,000. This means that the maximum member contribution and employer counterpart per month are both currently P100.

What are the benefits of Pag-IBIG Membership?

The Fund offers its members the following benefits:

  1. Savings
  2. Short Term Loans
  3. Access to Housing Programs

What Housing Programs are available for members?

An eligible member may avail of a housing loan under either the End-User Financing Program or the Magaang Pabahay, Disenteng Buhay Program. Under the End-User Financing Program, a member may avail of a loan to finance any of the following (Circular 247):

  1. Purchase of a fully developed lot not exceeding one 1,000 square meters, which should be within a residential area;
  2. Purchase of a residential house and lot, townhouse or condominium unit, inclusive of a parking slot. The unit may be:
    • Old or brand new;
    • A property mortgaged with the Fund; or
    • An acquired asset, which is disposed of through sealed public bidding, negotiated sale, or the Rent-to-Own Program.
  3. Construction or completion of a residential unit on a lot owned by the member;
  4. Home improvement, i.e. any alteration in an existing residential unit intended by a homeowner to be a permanent integral part of the property, which will enhance its durability and material value;
  5. Refinancing of an existing mortgage with an institution acceptable to the Fund, provided that:
    • The loan is not in default within the 12 months prior to the date of application;
    • The said loan has a repayment history of at two years with the original mortgagee
  6. Combination of loan purposes, which shall be limited to the following:
    • Purchase of a fully developed lot not exceeding 1,000square meters and construction of a residential unit thereon;
    • Purchase of a residential unit, whether old or new, with home improvement;
    • Refinancing of an existing mortgage with home improvement;
    • Refinancing of an existing mortgage, specifically a lot loan, with construction of a residential unit thereon.

    Under the Magaang Pabahay, Disenteng Buhay Program, a qualified member may purchase an acquired asset of the Fund either in cash or through a housing loan at very reasonable prices. A buyer who purchases an acquired asset in cash is entitled to a 20% discount on the property’s sales price, while a buyer who purchases through a housing loan is entitled to a 15% discount on the property’s sales price.

Who are eligible to avail of a housing loan under the End-user Financing Program?

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

  1. Must be a member under the Pag-IBIG I for at least 24 months, as evidenced by the remittance of at least 24 monthly contributions at the time of loan application.
  2. Not more than 65 years old at the date of loan application and must be insurable; provided further that he is not more than 70 years old at loan maturity;
  3. Has the legal capacity to acquire and encumber real property;
  4. Has passed satisfactory background/credit and employment/business checks conducted by the developer and the Pag-IBIG Fund;
  5. Has no outstanding Pag-IBIG housing loan, either as a principal borrower or co- borrower;
  6. Has not availed of a Pag-IBIG housing loan that was foreclosed, cancelled, bought back due to default, or subjected to dacion enpago, which shall include cases where the borrower is no longer interested to pursue the loan and surrenders the property;
  7. May have an outstanding Pag-IBIG multi-purpose loan but which is updated in payments at the time of loan application. A member whose multi-purpose loan is in arrears shall be required to pay his arrears over the counter to update his account.