Rent to Own

[CR_V]

alin mas ok,rent to own or financing ng bahay through pag ibig or bank?

[orly_andico]

rent to own just usually covers the downpayment/equity.

walang nagpapa-rent to own na the whole amount. kasi rent to own is basically installment payment with very high interest kasi equivalent siya to zero down.

ayaw mo ng rent to own "forever" kasi ang taas taas ng interest. generally mag rent to own ka lang until the time na ma-complete na yung equity na 20% or so tapos pa-refinance ka na sa bank or sa pag-ibig.

[theveed]

Orly: Many thanks sa PM.

Boss Chieffy: Search ko sa user database natin dito?

[Luap]

chief orly. thank you for the info

[e_chen]

suggest ko, try to scout for foreclosed properties usually advertised by the banks.... they even offer 10% DP with NO CI but you had to make sure you want the property and accept that what you are buying is a USED property..... i can help you on this since this is my profession now....

[theveed]

e_chen: Haven't thought of that hehe... I remember yung unit na ginawa ng father in law ko dati (he used to develop semi-low cost townhouses), someone bought it from him through Union bank for 800K, got repo'd, the new owner got it for a bit over 500K financed over god knows how many years ehhe.

I'd love to hear more from you bud.

[Luap]

suggest ko, try to scout for foreclosed properties usually advertised by the banks.... they even offer 10% DP with NO CI but you had to make sure you want the property and accept that what you are buying is a USED property..... i can help you on this since this is my profession now....

just in time...pm me your number, we'll talk...

[icon]

also currently looking for a place. dilemma talaga tong buy or rent.

ako din pa pm ng info.
kung meron din kayong alam na mga townhouses na for rent/sale pa pm naliliitan kami sa mga loft style condos that are all over these days.

from checking the bpi website, parang 70% ng appraised value ang loan and then max 20 years to pay of 10-12% interest per annum.
I checked their online calculator, for a 2M loan, 10 years to pay, you end up paying around 3.5M after 10 years. nakakahinayang yung 1.5M.

[orly_andico]

well if you're superstitious, you might think na "malas" yung mga repo na property. but that's just me, hehehe..

[orly_andico]

icon, ganyan talaga yan. kung 10 years +50%
kung 15 years X2 na siya
kung 20 years X3 na siya

no choice.

[rv]

good day fellow tsikoteers

i have a brand new 58sqm loft type 2br & 2tb condo unit RFO at xavierhills granada st. corner n domingo new manila qc. rent to own at 23k monthly amortization for 8yrs more. parking not included but can be rented or bought for 500k. i got it in april 02 and was turned over only last jan 06. so far i have put in a little over 1.2m all i ask is my ROI plus 50k then anyone can assume the in house financing with empire east. i can also give terms within a reasonable time frame. if anyone wants to see the unit let me know. i can also send you pictures. just pm me your email or you can reach me at 09228783653 thank you and good day to all god bless

[theveed]

rv: Please dont make this a classified thread, I suggest you edit your post and just send PM or whatever.

Ads are not allowed.

[rv]

sorry po

[theveed]

walang kaso pare

That's a nice neighborhood btw, used to live sa may N.Domingo area as well... Syang di kaya ng budget ko yung offer mo hehe.

[mazdamazda]

theveed... ayaw mo mag financing through pag-ibig para mahaba ang payment terms?

[rv]

no prob my bad bro. will visit big berts one of these days at the ortigas area. saw it one time cause my friends owns the resto beside you (jj's inasal) and the badminton courts down by auto camp (smashville) booming area that place! good luck and more power

[orly_andico]

ok nga pag-ibig. most of the better developers are already accredited with pag-ibig and they handle everything (appraisal, pre-screening, and so forth). all you have to do is attend the pag-ibig seminar (half day, afternoon) and cough up your credit documents (ITR, certificate of employment with compensation.. although theveed also has a bizness, i dunno how that works).

pag-ibig pros:
1. seamless integration with developers
2. not-so-strict credit rating
3. loooooong payment terms

pag-ibig cons:
1. capped at 2M or 2.5M (don't try buying a serendra unit on pag-ibig..)
2. at higher loans (e.g. 1M+) lower % loanable (90%)
3. higher-than-bank-average interest rates (about 1 point higher)

pero for the credit-unworthy such as yours truly, pag-ibig is teh bam!

[revoGSX]

ako dun plano ko din yung rent-to own na yan.. we are currently renting a condo and syempre parang sayang yung every month na bayad mo.. then you have to renegotiate the contract every year which is isang hassle din.. tapos lipat din ng mga gamit which is another hassle din..

yung utol ko kumuha sa GA towers dyan sa edsa mandaluyong... 15 years to pay.. forgot the loan terms nya sa pag-ibig..

[orly_andico]

GA Towers is on the expensive side.
bad thing is tower 1 is completely sold out na.

tower 2 ginagawa pa.

makakamura ka ng malaki if you buy and start paying habang hindi pa tapos. pero wait ka ng 1.5 years minimum.

[theveed]

M2: Malamang PagIbig, but have to find out how they'll consolidate my contributions from 3 different companies the past 7 years...

Bad trip condo medyo, just found out about their parking rates hehe, sobrang dagdag sa presyo. To think na you can get a bigger house and lot with parking na in some subdivisions...

Hanap din kasi namin as much as possible Pasig/Marikina area... Sarap ng walang coding kasi kung bahay at work mo walang coding :P

Usually ba ilang years to pay ang mga housing loan?