Posts Tagged ‘loans’

Need more funds?

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The first move to build a financial portfolio is to live within your means. If you don’t have a job, then you must first get one. Live within a fixed budget and save at least enough equal to 3 months of your living expense, then start saving in the bank until you get to the point of having sufficient money to invest. Do not touch the money equal to your 3 months living expense.

It is highly recommended to have a secondary income channel. I know it is hard to do that these days with the unemployment problem. But there are business opportunities available out there that doesn’t require a large amount of investment to start. Should you need payday advances just to get started with a business, study your options well and make a decision.

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Making enough money?

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As gasoline prices increase, everything else goes up with it, and often times commodity prices goes up faster than some people’s income. So what is to do? A lot would depend on borrowing from relatives and friends or on payday loan. And the most logical thing one would do is to budget the expenses to get things to fit in the income. While it is true that one should make a plan on where the hard earned income would go, it is not always working to just do that. 

What if the expenses at its most stripped down cost, like the basic needs for food, shelter and clothing, plus utility bills, cell phone load and others is more than the money you make? 

The best thing to do is to find means to make extra income, and earn more, to be able to buy the things you need and want. A lot of opportunities are out there to make it happen, one can take an extra job part time, or buy and sell items like gadgets or just whatever you would enjoy selling.   

My sister for instance would go to a mall where there are pre-owned mobile phones are for sale.  She would go around and see what’s on for sale, negotiate for a low price after testing the item and buy it. She would then use the item to test it for herself and start selling it on ebay or post in a forum or classified ads, doing this, she makes an extra $200-$400 dollars a month.   

There really are a lot of ways to skin a cat in as much as there are so many ways to make extra money.  Simply decide to do it!

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Bank Financing Charges for Real Estate Loans

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How much are the Bank Fees when you make a real estate loan in the Philippines? 

These are what the loan charges are like for a P1 Million Housing or Condominium loan. 

 woodland-hills-dmci-homes.jpg

The following are estimates only. 

SCHEDULE of LOAN CHARGES 

  1. Mortgage Redemption Insurance Premium Php 5,800
  2. Fire Insurance Premium (FIP) P 1,100
  3. Mortgage Registration Fee P 9,000.00
  4. Processing and Notarial Fees P 3,500
  5. Doc Stamps on Promisory Note P 5,000 

   Total Charges: P24,000.00 

I got this from the Bank Financing Seminar held at Celebrity Sports Club conducted by DMCI Homes, Inc. with UCPB V.P  Yolanda De Claro.

I will share about the Pre-Qualification requirements in the following post for Real Estate Bank Loans. Stay tuned… 

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