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Why Getting the RIGHT Home Loan is So IMPORTANT

Why Getting the RIGHT Home Loan is So IMPORTANT

Nook Admin – November 24, 2021

Transcript of the video


Choosing and applying for the right home loan can be a time consuming and confusing process. A lot of people have no idea where to begin.

But it's absolutely vital to get the right home loan for you and your particular circumstances.

In this video, we will go through the importance of properly comparing home loans and choosing the one that's right for you.

Hi guys, welcome. I'm John from Nook, the Philippines mortgage broker. We will help you find the right home loan and get it approved by a major bank for absolutely no charge.

Typical Home Loan Process

OK, so let's have a look at what most people in the Philippines do when they want a housing loan.

First, they will perhaps go to their current bank that they have an account with, and maybe one or two others. They pick up an application form and find out the basic requirements for the home loan.

Or, a real estate person will tell them that they are accredited with a particular bank so the borrower just decides to go with that bank.

But.....this is a completely random way to choose a financial product that the borrower will have for the next 15 to 20 years of their life, perhaps longer.

That's roughly a quarter of their lifetime with that home loan and there was no real proactive decision made about which bank to use.

A home is often the biggest investment that a person will make yet many people just chose the bank that a real estate person said to use.

It's a serious financial decision but for many people, the time to decide on the home loan product was so short compared to the length of time they will be paying back the repayments.

Home Loan Eligibility

Not only that, they have no way of knowing whether they actually meet the lending criteria of those banks.

You see, each bank has its own set of lending policies. A person may get a loan from one bank but another bank will decline that same person.

The only way to find out if a borrower is eligible is to complete the entire housing loan application process and see what the bank says.

That's very time consuming and it's actually the old fashion way to get a home loan.

Mortgage Brokers

However, if you work with a mortgage broker like Nook, a borrower is able to properly compare home loans and choose the right one for them.

They can help a borrower with their unique circumstances and match them to the banks that they are qualified to lend from.

Working with a mortgage broker is like visit multiple banks at once and they do all the home loan process for the borrower for free. A mortgage broker does not charge a borrower anything for their services.

This is why mortgage brokers are the number one way people get housing loans around the world.


So, if you're considering buying a property or need a housing loan and want to understand your financing options, contact Nook today.

Our team can help you get pre-qualified in just a few minutes and all our of services are free for home loan borrowers.

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Thanks for joining us. And see you next time.