Rent to Own

[theveed]

oldblue: Tell me about it, taga Cainta/Junction ako dati it was hell unless you go the long route via Marcos hway or Manggahan going to libis hehe. Pero honestly, medyo malaki diff naman ng drving ng GLiner/RRCG compared to EDSA busses hehe. Mga jeep at FX sobrang kups din pati mga private vehicles na nagcocounter flow kada tulay.

M2: AFAIK oo, basic lang, taasan ko ba?

Chieffy: OK, punta ako national sa weekend siguro.

Question regarding foreclosed properties (including cars), if you check the posting sa bank branch or sa web, yung mga prices nya doesn't seem to be that big of a discount from retail, how do you get a better deal from it?

Like what I mentioned previously, yung unit ng father in law ko before, posted ng union bank 700K+ but the buyer was able to get it at 500K+ lang with long financing. Pano ginagawa yun?

[mazdamazda]

M2: AFAIK oo, basic lang, taasan ko ba?

yata... sabi rin naman ni orly na magretroactive yung new contribution mo daw.

eto yung loan entitlement rates (leftmost is the employee + employer monthly contribution) :

100 up to 125K
200 125K - 250K
300 250K - 375K
400 375K - 500K
600 500K - 750K
800 750K - 1M
1000 1M - 1.25M
1200 1.25M - 1.5M
1400 1.5M - 1.75M
1600 1.75M - 2M

may mga brochures ako dito ng pag-ibig kasi... nag conduct ng orientation ang taga pag-ibig sa amin last month.

[Ito_Citytoto]

wrong post

[theveed]

M2: Thanks for the clarification, kausapin ko HR namin kung pano dadagdag ng contribution then.

[orly_andico]

david, hindi si HR ninyo ang gagawa nun.
ikaw gagawa nun with the help of your developer.

ganito yun: let's say you need a contribution increase to 1600. after your pag-ibig seminar (you have to have chosen a developer already by then) you will go to some office on the 7F of pag-ibig and tell them that you want to upgrade your contribution.

then you pay 1 month (or was it 2 months) worth of the new contribution.

the succeeding contributions will not be deducted from your salary. they will be added to your monthly amortization.

e.g. after all the documentation, pag-ibig decides to lend you say 1M at 15k/month (kunyari lang). they actually say your monthly is 16.4k/month (15k base + 1.4k additional contribution).

[empy]

vid, kung hindi umabot ang pondo mo, bumakas ka na lang sa aking man-whoring business

[Altis6453]

Just a caution for would-be buyers on bank loan interest rates. The rates they offer (bet. 9.75% - 10.5%) are usually low for the first two years, then, it is adjusted to market rate --- which could be anywhere between 14% to 16% now.

What does this mean? Compared to Pag-Ibig wherein your loan interest is fixed at 12% for the entire period of your loan, banks have the option to adjust your interest rates higher if the interest rates are adjusted by the Bangko Sentral.

[kimpOy]

bwahahaha para makabili ka rin ng VW Toureg

[orly_andico]

pag-ibig is fixed at 14% for the first 5 years only. after that adjust na rin.

[BoEinG_747]

pag-ibig is fixed at 14% for the first 5 years only. after that adjust na rin.

Sir orly.ilan percent po ang increase nila after your first 5 yrs ?

[theveed]

Orly: so many thanks for that info... at least di ako masyado mangangapa...

Can you refinance ba after the 5th year? If not, yung after 5th year, yung natitirang balance nalang ba yun market rate or the whole principal padin?

M54: Di na, may sarili na akong tinatayong man-whore group, but walang takers lagi hehe..

[orly_andico]

david, sa pag-ibig you can refinance ONE (increase or decrease the remaining term). that's all.

[_Qwerty_]

nice thread..

i was in this situation of renting an apartment since 2000.. 12.5K a month.. for 6 years.. waisted.. parang 900K na rin yun.. down the drain.. ni pang yosi wala man lang refund.. ehheheh

then I bumped into this condo in Edsa corner Boni, 3 years ago.. downpayment stretched for 3 years.. zero interest.. you can pay 20% or above downpayment.. I settled for 30% down.. after 3 years.. buo na yung condo.. ni turn over last January.. they've fixed the unit... and on Saturday we're moving na to our unit.. the balance of 70% went thru Pag-ibig housing loan.. payable in 5 years.. so after 5 years.. akin na yung condo.. and from the pre-selling to now.. nag appreciate na yung value nang mga 1M.. pwede ko na ngang benta.. kaya lang pagod na akong mag rent.. feeling ko nasasayang talaga yung money.. so I opted to live na lang sa unit...

ang maganda pa.. the unit size that I got is bigger than what I paid.. bigger nang 4 sqm.. so it's like 200K free..

so payo ko sa inyo mga pre.. lakasan lang nang loob yan.. at konting higpit sa sinturon.. kung di mo sisimulan ngayon.. kelan pa?? ang bilis nang takbo nang panahon.. if you wait and wait and wait.. 10 years will pass and nag rent ka pa rin..

daming new residential in the 1 - 2M category.. meron sa Sta. Mesa tapat nang Centerpoint.. meron sa may San Lazaro.. lahat pwede thru Pag-ibig.. developers are also starting to offer zero interest for the downpayment.. wag lang Citiland.. puro balloon payment.. or if you could wait 4 more years.. may isa pang tower don sa kinuhanan ko.. malalim lalim na rin yung hukay.. in 2 to 3 years time.. nakatayo na rin yun..

[baiskee]

daming new residential in the 1 - 2M category.. meron sa Sta. Mesa tapat nang Centerpoint.. ..

ser, san po dun?

[orly_andico]

boeing_747,

i believe after 5 years pag-ibig will restructure the interest terms about 1-2 points above the indicative Central Bank lending rate. so It Varies (TM)

ok nga yung "pay the D/P kahit wala pa yung condo." mas nakakamura talaga dun. yun nga lang you'll pay rent pa rin for 3 years. medyo mahirap-hirap magbayad ng D/P (kahit amortized) AND mag rent at the same time.

[theveed]

Dvorak: Nice story Congrats bro...

[theveed]

Dvorak: Nice story Congrats bro...

[theveed]

Ako definitely out of the question ang buying a car, sobrang poor investment yan kung wala ka pang bahay imo hehe.

[XTO]

better to have a lot first then unti-unti mong tayuan or if you have the budget ready tuloy finishing na. masarap na masaya ang feeling just like setting up cars and even the privacy is matchless. IMHO

[carfrancis]

Hi guys, up ko ulet. hehe..

a friend of mine just got married and also looking for a rent to own place in marikina. medyo mahirap nga kse maghanap. and i think rent to own is best for starter families kse ang bigat tlaga bumili ng bagong bahay ngaun. ung mga 3BR townhouse nasa 2.5M na agad. kulang eh ihulog mo nlng sa bahay ang buong sweldo mo, pano ka pa mabubuhay nun?? haay sobrang hirap tlaga..

pa post or PM nman po kng may mga alam kayo.. salamat po in advance! :D