i applied for a house construction loan sa pagibig, started last march and notice of approval was granted last august. It also took me around 50K to complete all requirement bago nirelease yung 1st check. sa akin na nakapangalan yung lot when i applied.
some requirements after the seminar at pumasa ka sa evaluation:
- bldg plans
- bldg permits
- tax clearance/declaration
- mortgage/chattel ba yun? (from registry of deed, mga 5K din)
- Doc stamp/Tax declaration (around 5K)
- notary of application (1% of loan amount)
- katakut-takot na paghihintay at pabalik balik
- etc, etc, etc.
4 gives ang check na ibibigay (30-30-30-10%) and may interest pa pag natagalan bago mo pina-inspect after the 1st, 2nd or 3rd release). The 4th release na 10% is ibibigay pag nakuha mo na yung occupancy permit (gastos uli) at nabayaran yung bagong tax declaration.
From the above reply, the salient points are scaring me!
-Processing took almost 5 months
-Processing fees cost P50,000
-Requirements include building plans and permits, tax declaration etc etc.
If you have any relevant experience on this topic, kindly share it here.