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  1. Join Date
    Oct 2002
    Posts
    13,415
    #1
    May alam ba kayo?

    Kinda feel like money is going down the drain paying rent every month with nothing in return other than immediate need for shelter hehe.

  2. Join Date
    Oct 2002
    Posts
    21,244
    #2
    how about buying a house through bank financing?
    Signature

  3. Join Date
    Aug 2005
    Posts
    4,293
    #3
    For short term mas ok if rent.. but if sure ka na sa house better buy through bank housing loan than paying rent every month and get nothing in return.

  4. Join Date
    Oct 2002
    Posts
    13,415
    #4
    Bigat kasi yung DP hehe...

    Question... Let's assume there's this prospect house you're eyeing, let's say 2.5M sya.

    Pag owner yung nagbebenta, pano yung set up nun? How do you go about financing etc?

    Assuming 20% DP, is it as easy as paying 500G up front to the bank, then monthly na yung balance (+ interest, of course)?

    Kasi when I look at financing from condo/townhouse flyers, ang gulo ng mga systems nila, deceiving.

    Like the 8k/mo SOHO thing, there are "balloon payments" every year, in order to get to that payment, you're actually paying the 8K/mo + whatever the amount the balloon payment is /12... Mga 25K or more ang actual payment mo.

    Tapos pag dating sa 65th month nila dun pa papasok yung natitirang lumpsum of over 150K or something.

  5. Join Date
    Aug 2005
    Posts
    4,293
    #5
    sa 2.5M, bank will check the commercial value of the real estate if 2.5M talaga. If ok sila I think they will lend you 60% of the value. Depende lang yan sa bank.

  6. Join Date
    Oct 2002
    Posts
    13,415
    #6
    ah so mga 40% pala usually... damn, need to save up more hehehe.

  7. Join Date
    Nov 2002
    Posts
    6,753
    #7
    ala ko un mga condo now sa eastwood.. and un bago sa may west ave.. rent to own..

  8. Join Date
    Sep 2003
    Posts
    1,202
    #8
    conservative ang mga appraisal ng mga bank.

    halimbawa TCP nya eh 2.5M then appraise ng banko nayon eh 2M lang. Then sa 2M sila babase ng ipi finance nila so kung sabi nga ni isuzu eh 60% ng 2M lang iyon then iyong 500K (difference sa appraisal at TCP) plus 40% ng 2M iyong ang cash layout mo.

  9. Join Date
    Aug 2005
    Posts
    4,293
    #9
    you can use your other real estate property which has more higher appraised value than the property you want to buy. Ako medyo takot ako sa mga ganito loan but depende which property is more important to you.

  10. Join Date
    Jan 2006
    Posts
    108
    #10
    actually madami rin misconceptions about renting, like feel nyo tinatapon lang ang pera.

    when you buy a house and lot, may babayaran kapa mga real estate taxes every year and of course maintenance mahal din because of wear and tear. tutulo ang roof, repaint, piping problems, water pump, etc. etc. after 10 years. renovate na

    in renting, wala kana iproproblema, and may nakatabi kang pera just in case kelangan. if you put almost all your money in buying a house, mahirap na if you need the money matagal magdispose ng real estate, unlike kotse mabilis lang.

    the interest your money will earn instead of buying a house is usually enough to cover the rental. and the interest rates here talaga mataas, 10-13% per year so pag mag housing loan ka lugi ka for me. pag 5 years to pay edi parang nagbayad kana ng 40% more siguro

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Rent to Own