How to apply for housing loan?

I'm pretty sure a'lot of us thought of getting our own houses or should I say home, but of course not all of us are lucky enough to come up with sufficient funding and so we end up postponing our dream of owning the home we dream't of, and some would have turned to loans, and mortgages but due to lack of knowledge,some ends up loosing the opportunity and even get into trouble.
So let's get this started. This article will give you details at least a little briefing before you take actions moreover our intention is clear. This is to help you start making right actions and achieving your dream home

A housing loan is money that a bank or other institution lends you to buy a home such as Bank, Pag-IBIG (HDMF) or

Inhouse Financing

Bank - Banks would usually take 80-90% more or less of the total contrct price and banks will require proof of

income and collateral but not all. It's would also be easier for borrowers to process housing loan if they have an

existing account/savings with the Bank
Interest rate varies from bank to bank and depends on how long it takes to make full payment of said loan
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Pag-IBIG (HDMF) - Home Development Mutual Fund, is a government institution that has always led the housing

loan in the past couple of years and still mentains a good funding for there members, now if your currently

employed locally and/or an OFW you can certainly take advantage of what Pag-IBIG has to offer, they offer a little

amount of interest per annual and you being life insured. That if principal borrower is no longer living in flesh, any

beneficiaries would no longer be obliged to pay remaing balance, it will be fully paid, regardless of the number of

months paid. as soon as loan has been granted, it will be covered by this law

I have included rates below for Pag-IBIG as of March 2014
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Inhouse Financing - Normally the main purpose of this financing is to give buyers that does not want to have third

party mortgage/loan and just making transactions directly with the developer, but now buyers would rather prefer

this although it would be a little bit more