Article(s) tagged with " Housing Loan "

Here’s another letter that we’d like to share to every reader of this website. It’s about the use of the Income Tax Return as a requirement in applying for a Housing Loan. The letter is shown below. “I want to become a member of [the] Pag-IBIG Fun. My question is, is it possible na maging [...]

We are always delighted to receive letters from OFW Pag-IBIG Members. A couple of days ago, we received a letter from a Pag-IBIG Member who is an Overseas Filipino Worker based in Indonesia. The subject line of the email says, “OFW Loaning.” As you can see, he was planning to apply for a Housing Loan [...]

In Part 1 of this series, you’ve learned that long term home financing could be very expensive in the long run while at the same time it also makes an expensive property look more affordable on a monthly basis. For many, getting a home loan is the only way to ever achieve their dreams of [...]

Some of you may have already thought about, or even calculated, the real cost of getting a mortgage loan to finance your home purchase. If you did, that’s a good sign that you are savvy when it comes to your money. Keep that good habit alive. The calculation is actually very simple and straight-forward. All [...]

With the introduction of the Republic Act 9679, otherwise known as the Home Development Mutual Fund Law of 2009 or simply Pag-IBIG Fund Law of 2009, a number of changes have been implemented to the existing rules of the Pag-IBIG Fund. This article touches those affecting the Overseas Filipino Workers and those things that are [...]

Pag-IBIG Fund members can be grouped roughly into two: those based locally in the Philippines, and those based overseas (The Filipino Overseas workers, Filipino Expats, Immigrants and the sea farers) For the first group, sending their payments and contributions to the Pag-IBIG Fund should be easy. Unfortunately, that is not always the case. Not every [...]

Have you ever entertained that thought of buying a home of your own? If not yet, beware! It’s one of those nasty things that could give you sleepless nights… next only to Facebook. From the design of the house and the size of the lawn, to the number of rooms and the kind the furniture [...]

Yes, you too can… …get scammed if you are not very careful. Let me explain. I was supposed to be feeling lucky this morning. The first text message I got was from a friend saying, “Thank You.” What a lovely day! This is the kind of SMS message I’d like to read first thing in [...]

In the previous article about amortizations, you learned how to determine the monthly amortization given a particular loan amount, loan term (in years) and interest rate (per annum). It is very important to bear in mind that these three factors primarily determine the scheduled amount of the monthly amortization. This article somehow extends on the [...]

This is one of those topics that a lot real estate buyers are clueless about. Many of them just don’t know how the monthly amortization is determined. This is true for both the first time as well as the seasoned home buyers — and a few real estate agents I’ve met. They simply let the [...]