12/10/2026
Planning to buy your dream house? Before applying for a bank loan, know how much you can realistically afford! ๐ฐ
STEP 1: Know Your Monthly Income**
Banks evaluate your income to determine whether you can afford your monthly amortization.
Example:
- Monthly net income: โฑ50,000
- Suggested housing budget (30%): โฑ15,000/month
STEP 2: Consider Your Existing Debts**
Your car loan, credit card payments, personal loans, and other financial obligations can affect your loan eligibility.
Example:
- Monthly net income: โฑ50,000
- Existing monthly debt payments: โฑ5,000
- Suggested housing budget: โฑ15,000/month
Make sure your total monthly obligations fit comfortably within your budget.
STEP 3: Estimate Your Possible Bank Loan**
For illustration only, if your affordable monthly amortization is โฑ15,000, your estimated loan amount could be around:
๐ โฑ1.9 MILLION**
Assumptions:
- Interest rate: 7% per year
- Loan term: 20 years
- Monthly amortization: approximately โฑ15,000
Actual loan amounts depend on the bank's interest rate, loan term, income assessment, credit standing, existing debts, and other requirements.*
STEP 4: Prepare Your Equity**
Remember, the bank may not finance 100% of the property's selling price. You may need to prepare your down payment or equity, plus applicable transaction fees.
โจ PRO TIP:Don't base your home purchase solely on the maximum amount a bank will lend you. Choose a monthly payment that allows you to provide for your family, build your savings, and maintain an emergency fund.
๐ก WANT TO KNOW WHICH PROPERTY FITS YOUR BUDGET?**
Let us help you explore your options and understand your financing possibilities!
๐ฉ Message **SVF Realty** for property inquiries and sample loan computations.
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JESSA GLO S. MOLINA
Sales Manager | Co-Owner*
Licensed Real Estate Broker (REB)**
Licensed Real Estate Appraiser (REA)**
SAN VICENTE FERRER REAL ESTATE SERVICES (SVF REALTY)**
Committed to Excellence. Dedicated to You.
