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PSBank Home Loan with Prime Rebate for SM Development Corporation’s Buyers

Posted by Jun on March 4th, 2012

In a very short interview with plus an email from Ms. Rizza C. Delena, Account Officer for Indirect Mortgage Channel of Philippine Savings Bank or PSBank, she revealed that their bank has come up with a loan package that is specially tailor-made for SM Development Corporation’s buyers.

PSBANK Home Loan currently offers the longest and most flexible interest rate fixing period with a maximum payment term of up to twenty five (25) years to pay. They offer to finance up to 90% of the Total Contract Price of the SMDC property that home buyers are acquiring. Other developers’ buyers traditionally get financing of only 80% of TCP. (more…)

Posted in Investment and Finance

Tags: monthly amortization, Philippine Savings Bank, PSBank, PSBank Home Loan with Prime Rebate

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It’s not always necessary to have your own house

Posted by Jun on June 4th, 2011

This is not a personal finance site and I do not profess to be good at personal finance. But whether you acknowledge it or not, your plan to own a house is tied up to your long-term financial objectives. (more…)

Posted in Investment and Finance

Tags: financial freedom, personal finance

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Assess your financial readiness to own your dream house

Posted by Jun on April 16th, 2010

In my last post, I promised to write more about Nuvali. Sadly, these past few weeks has seen me suffer from “Nuvali fatigue.” For those who are waiting for my follow up feature on Nuvali, its draft is already half done and it shall be published. To ease the fatigue, I’ll write about something that I hope some will find worthwhile.

It’s true that it’s every Filipino’s dream to own a house. But more than dreaming, it’s imperative that you make a thorough examination of your financial position before you take the plunge. (more…)

Posted in Investment and Finance

Tags: budgeting, emergency fund, financial crisis, insurance, personal finance, Registered Financial Planners Institute Philippines, retirement plans, savings

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Philippine real estate will only thrive if promises are delivered

Posted by Jun on March 24th, 2010

The most common way developers sell their projects is through pre-selling. It’s a process by which a project, while still on paper, is actually sold to prospective buyers. Many agents actually call this process selling “air.”

Prospective buyers are gathered in the property where the project will be built and are told: “On this land will rise a residential project that will consist of this and that amenities, with so and so open spaces and more.” It’s like telling prospective buyers to close their eyes and imagine what the future development will be like and are then told to buy what the developer promises to deliver in the future. (more…)

Posted in Investment and Finance

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How many Filipinos live in their own house and why

Posted by Jun on July 22nd, 2009

A survey titled Citi Fin-Q Report (warning: this report is a PDF file and I’m warned that it may contain a virus; kindly proceed with caution and read my note about PDF files at the bottom of this page) published by Citibank on September 2008 tried to determine the financial IQ (Intelligence Quotient) of respondents from Australia and ten Asian nations, including Filipinos, in terms of managing their personal finances.

This post will focus on a small but interesting portion of that study: home ownership, particularly in China and the Philippines.

A staggering 81% of Chinese respondents live in their own home that’s either already fully-paid for or mortgaged. Compare that with only 42% of Filipinos. (more…)

Posted in Investment and Finance

Tags: financing, homeownership, Pag-ibig Fund, personal finance, subsidized housing

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