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Showing posts with label Pag-ibig housing loan. Show all posts
Showing posts with label Pag-ibig housing loan. Show all posts

Monday, April 10, 2023

Pag-IBIG Foreclosed Properties for Sale | April 2023








MANILA, Philippines — NARITO na ang listahan ng mga foreclosed properties for sale ng Pag-IBIG Fund ngayong buwan ng Abril. Maraming mga properties ang maaaring pagpilian mula sa iba't-ibang lugar sa buong bansa. May mga bahay at lupa na maaaring makuha sa murang halaga o i-loan sa mismong Pag-IBIG Fund.

Sa mga interesado, i check ang mga properties sa ibaba at isangguni sa mismong Pag-IBIG Branch na pinaka-malapit sa inyong lugar.


Bacolod Housing Business Center
Batch Number : 59095
Duration of Acceptance of Offers: April 3, 2023 – April 14, 2023
Dropbox Location:
2nd Flr Gaisano City Mall, Araneta Street Bacolod City
Plazuela De Iloilo B.S. Aquino Avenue., Mandurriao, Iloilo City
2nd Floor GT Plaza Mall, M.H. del Pilar Street Molo, Iloilo City
A&T Santos Building, Sacred Heart of Jesus Avenue Pueblo De Panay, Lawa-an Roxas City
2nd Floor St. Ignatius Square, Magma Street Kalibo Aklan
Date of Opening of Offers: April 17, 2023, 8:30AM


Calamba Housing Business Center
Batch Number: 47117
Duration of Acceptance of Offers: April 3, 2023 – April 12, 2023
Dropbox Location:
GF Pag-IBIG Fund Calamba (Annex Building) National Highway, Barangay Halang, Calamba City, Laguna – Counter 5/6.
Date of Opening of Offers — April 13, 2023


Calamba Housing Business Center
Batch Number: 47118
Duration of Acceptance of Offers — April 13, 2023 – April 19, 2023
Dropbox Location:
GF Pag-IBIG Fund Calamba (Annex Building) National Highway, Barangay Halang, Calamba City, Laguna – Counter 5/6.
Date of Opening of Offers — April 20, 2023


Calamba Housing Business Center
Batch Number: 47119
Duration of Acceptance of Offers — April 17, 2023 – April 24, 2023
Dropbox Location:
GF Pag-IBIG Fund Calamba (Annex Building) National Highway, Barangay Halang, Calamba City, Laguna – Counter 5/6.
Date of Opening of Offers — April 25, 2023


CDO Housing Business Center
Batch Number: 82023
Duration of Acceptance of Offers — April 17, 2023 - April 21, 2023
Dropbox Location:
Pag-IBIG Fund Building JR Borja Street Cagayan de Oro City
Date of Opening of Offers — April 24, 2023


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Cebu Housing Business Center
Batch Number: 64041
Duration of Acceptance of Offers — May 2 - May 12, 2023
Dropbox Location:
Ubay Public Market Building, Talibon Road, Ubay, Bohol (02-05 May 2023)
Ubay MSB Office, Boyles Street, Poblacion, Ubay, Bohol (08-12 May 2023)
2nd Floor, Galleria Luisa, Gallares Street, Tagbilaran City, Bohol (02-12 May 2023)
3rd Floor, Pag-IBIG FUND – WT Corporate Tower, Mindanao Avenue, Cebu Business Park,Cebu City (02-12 May 2023)
Date of Opening of Offers — May 24, 2023


Naga Housing Business Center
Batch Number: 53140
Duration of Acceptance of Offers: April 11 - 17, 2023
Dropbox Locations: Pag-IBIG Fund - Naga Housing Business Center, 2nd Floor, ALDP Bldg., Roxas Avenue, Diversion Road, Naga City, Camarines Sur.
Date of Opening of Offers: April 18, 2023


National Capital Region Housing Business Center
Batch Number: 15158
Duration of Acceptance of Offers : April 11, 2023 – April 15, 2023
Dropbox Location :
For NCR – JELP Business Solutions Center, 409 Shaw Boulevard, Brgy. Addition Hills, Mandaluyong City
For Cavite – Pag-IBIG Fund Dasmariñas Branch – Volets Commercial Building, E. Aguinaldo Hi-way, Dasmariñas, Cavite
For Laguna – Pag-IBIG Fund San Pedro Branch – 3/F Robinsons Galleria South, Km.31, National Highway, Brgy. Nueva San Pedro, Laguna
Date of Opening of Offers : April 17, 2023



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TUGUEGARAO HOUSING BUSINESS CENTER
Batch Number: 34052
Duration of Acceptance of Offers: April 11 - 17, 2023
Dropbox Locations: Ground Floor, Editha Tuddao Bldg., Balzain Highway, Tuguegarao City, Cagayan
Date of Opening of Offers: April 18, 2023 9:00 AM


Zamboanga Housing Business Center
Batch Number: 76083
Duration of Acceptance of Offers — April 03 – 12, 2023
Dropbox Location:
Dipolog Branch, FSA II Building, Quezon Ave., Miputak, Dipolog City 7100
Zamboanga Housing Business Center, Pag-IBIG FUND, Baliwasan, Zamboanga City 7000
Date of Opening of Offers — April 17, 2023 at 09:00 AM


Zamboanga Housing Business Center
Batch Number: 76084
Duration of Acceptance of Offers — April 03 – 12, 2023
Dropbox Location :
Pagadian Members Services Branch, 2F Trace Arcade Bldg., Pajares Ave., Pagadian City 7016
Zamboanga Housing Business Center, Pag-IBIG FUND, Baliwasan, Zamboanga City 7000
Date of Opening of Offers: April 17, 2023 at 09:00 AM


Zamboanga Housing Business Center
Batch Number : 76085
Duration of Acceptance of Offers — April 03 – 12, 2023
Dropbox Location:
Ipil Members Services Office, GF Avery Arcade, Sanito, Ipil, Zamboanga Sibugay 7001
Pagadian Members Services Branch, 2F Trace Arcade Bldg., Pajares Ave., Pagadian City 7016
Zamboanga Housing Business Center, San Jose Road, Baliwasan, Zamboanga City 7000
Date of Opening of Offers — April 17, 2023 at 09:00 AM


©2020 THOUGHTSKOTO
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Monday, October 26, 2020

May Pag-IBIG Housing Loan? Alamin Kung Ano ang Pakinabang ng Special Housing Loan Restructuring Program




Dahil sa pandemya resulta ng coronavirus disease o Covid-19 na lubos na nakaka-apekto sa pangkabuhayan ng maraming Filipino, ina-alok ngayon ng Pag-IBIG Fund ang hanggang anim na buwang kaginhawaan sa pagbabayad ng inyong housing loan. Hatid umano nito ang mas abot-kayang amortization at walang multa sa ilalim ng special restructuring program. Layunin ng programa na matulungan ang mga home loan borrowers na maibsan ang epekto ng pandemya.

Ayon kay Secretary Eduardo del Rosario, chairman ng 11-member Pag-IBIG Fund board of trustees at head ng Department of Human Settlements and Urban Development, inaalok ngayon ng ahensiya ang Special Housing Loan Restructuring Program upang matulungan ang mga home loan borrowers na mapanatili sa kanila ang kanilang mga bahay sa kabila ng krisis.

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“In support of the government’s efforts, led by President Duterte, in helping Filipinos who are going through financial difficulties due to the pandemic, we are offering a special loan restructuring program to our housing loan borrowers with unpaid monthly amortizations of up to 12 months as of August 2020. We understand the need of our members especially during these times. That is why we are offering this program to help ease their financial burden and provide them time to financially recover until they are able to pay their loans,” ang naging pahayag ni Del Rosario.

“We are also giving them the option to resume payment of their restructured loans by as late as March 2021. This gives them up to six months of payment relief,” dagdag pa ni Del Rosario.

Sa official Facebook Page naman ng Pag-IBIG Fund, inilathala ng ahensiya ang mga madalas na katanungan ukol sa Special Housing Loan Restructuring Program at ito ang mga sumusunod;


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1. Ano po itong Special Housing Loan Restructuring Program na inaalok ng Pag-IBIG Fund?

Ang Special Housing Loan Restructuring Program ay inaalok ng Pag-IBIG Fund sa mga Housing Loan borrowers nito na lubos na naapektuhan ng pandemya.

Ang programang ito ay naglalayong tulungan silang maibsan ang kanilang alalahaning pinansyal sa mga panahong ito, maisaayos ang pagbabayad ng kanilang Pag-IBIG Housing Loan at higit sa lahat, mapanatili sa pag-aari nila ang kanilang mga tahanan.

2. Ano po ang maitutulong ng Special Housing Loan Restructuring Program sa mga Pag-IBIG Fund members na may Housing Loan?

Sa tulong ng programang ito, maaaring mapababa ang buwanang bayad sa Pag-IBIG Housing Loan ng isang miyembro sa pamamagitan ng pag-extend ng loan term o dahil sa pagbaba ng interest rate nito.  Maaari ding mapanatili ng isang Pag-IBIG Housing Loan borrower ang kasalukuyang halaga ng kanyang buwanang bayad, sa pamamagitan ng pagbayad ng outstanding principal sa dulo ng kanyang loan term.

Mawawala rin ang  penalty charges sa account ng Pag-IBIG Housing Loan borrower na dulot ng mga hindi nabayarang loan payments.

Higit sa lahat, maaari ring piliin ng nasabing borrower kung kailan siya magsisimulang muli sa pagbabayad ng kanyang loan, anumang petsa mula Disyembre 2020 hanggang Marso 2021, upang lalong maibsan ang kanyang alalahaning pinansyal sa panahong ito, at maisaayos ang pagbabayad ng kanyang Pag-IBIG Housing Loan.

3. Sino ang maaaring mag-apply para sa Special Housing Loan Restructuring Program ng Pag-IBIG Fund?

Bukas ang programang ito sa lahat ng Pag-IBIG Housing Loan borrowers na ang loan account ay updated. Maaari ring mai-apply sa programang ito ang Housing Loan accounts na hindi lalagpas sa labing-dalawang (12) buwan ang hindi nabayarang monthly loan payments nitong Agosto 2020.

4. Maaari bang i-apply sa Special Housing Loan Restructuring Program ang Pag-IBIG Fund loan na ginamit para makabili ng isang Pag-IBIG Fund acquired asset?

Opo, maaaring i-apply sa programang ito ang Pag-IBIG loan na ginamit ng isang miyembro upang makabili ng Pag-IBIG Fund acquired asset.  Kabilang po dito ang mga nagbabayad sa pamamagitan ng installment para sa kanilang nabiling acquired asset.

5. Aling mga Pag-IBIG Housing Loans ang hindi sakop ng Special Housing Loan Restructuring Program ng Pag-IBIG Fund?

Ang mga Pag-IBIG Housing Loans na may higit sa labing-dalawang (12) monthly payments na hindi nababayaran nitong Agosto 2020 ay hindi kabilang sa programang ito.  Hindi na rin maisasama sa programang ito ang mga Pag-IBIG Housing Loans na na-cancel na o kaya nama’y nasa foreclosure or litigation na.

6. Magkano po ang processing fee at downpayment upang makapag-apply sa Special Housing Loan Restructuring Program ng Pag-IBIG Fund?

Libre po at walang babayaran na anumang processing fee ang mga Pag-IBIG Housing Loan borrowers na nais mag-avail ng programang ito.

Hindi rin po kinakailangang maglaan o magbayad ng downpayment upang makapag-apply sa Special Housing Loan Restructuring Program ng Pag-IBIG Fund.

7. Mayroon bang insurance premiums na kailangang bayaran para sa Pag-IBIG Housing Loan na maaaprubahan sa ilalim ng Pag-IBIG Fund Special Housing Loan Restructuring Program?

Mayroon po.  Para sa proteksyon ng Pag-IBIG Housing Loan borrower at ng kanyang pamilya, kinakailangan niyang mabayaran ang one (1) year premium para sa Mortgage/Sales Redemption Insurance at Non-Life Insurance ng kanyang Housing Loan sa loob ng tatlumpung (30) araw pagkalipas maaprubahan ang kanyang aplikasyon para sa Special Housing Loan Restructuring Program.

Ang nasabing insurance ay tutulong na makabayad sa anumang balanse ng Housing Loan ng isang miyembro, kung sakaling siya ay pumanaw o kaya nama’y magkaroon ng sakuna na lubhang makakasira sa kanyang tahanan.

8.  Ano po ang mangyayari sa mga hindi nabayarang monthly payments ng isang borrower sa kanyang Pag-IBIG Housing Loan oras na maaprubahan ang kanyang aplikasyon para sa Special Housing Loan Restructuring Program?

Ang mga hindi nabayarang monthly payments sa Pag-IBIG Housing Loan ng isang miyembro ay magiging bahagi ng kanyang tinatawag na restructured loan oras na maaprubahan ang kanyang aplikasyon sa programang ito.

Ang kabuuang halaga ng mga hindi nabayarang monthly payments at ang natitirang balance ng kanyang Housing Loan ay pagsasamahin, at magiging bahagi ng kanyang restructured loan na unti-unti niyang babayaran sa loob ng kanyang natitira o panibagong loan term.

9.  Ano po ang magiging interest rate ng isang Pag-IBIG Housing Loan matapos maaprubahan sa ilalim ng Special Housing Loan Restructuring Program?

Ang magiging interes ng isang Pag-IBIG Housing Loan na maaaprubahan sa Special Housing Loan Restructuring Program ay 6.375% per annum sa loob ng tatlong taon, na maaaring magbago pagkatapos ng nasabing panahon.

Sa kabilang banda, ang subsidized interest rate ng mga socialized housing loans, kabilang ang mga kagaya nitong acquired assets, ay mananatili hanggang sa panahon ng natitirang subsidized period nito.  Matapos ang nasabing subsidized period, ang interest rate ay aayon sa umiiral na interest rate sa panahong iyon.

10. Hanggang kailan maaaring bayaran ang isang restructured Housing Loan na maaaprubahan sa ilalim ng Special Housing Loan Restructuring Program?

Ang restructured Housing Loan ay maaaring bayaran ng isang miyembro ng hanggang  tatlumpung (30) taon, basta’t hindi dapat lalagpas ang nasabing miyembro sa edad na 70 sa dulo ng kanyang napiling loan term.

11.  Sino ang kinakailangang mag-apply sa Special Housing Loan Restructuring Program na ito kung sakaling ang isang Pag-IBIG Housing Loan ay may principal borrower at co-borrower?

Ang pag-apply sa programang ito ay nakasalalay sa bawat borrower sa isang Housing Loan account, maging siya man ang principal o co-borrower.

Gayunpaman, lubos na hinihikayat ang mga Pag-IBIG Housing Loan principal borrowers at ang kanilang co-borrowers na mag-apply sa programang ito kung sakaling may hindi sila nabayarang monthly loan payments na ‘di lalagpas sa labing-dalawang (12) buwan nitong Agosto 2020.

12.  Maaari bang isailalim sa Special Housing Loan Restructuring Program na ito ang higit sa isang Pag-IBIG Fund Housing Loan ng isang miyembro lamang?

Opo, kung ang isang miyembro ay may higit sa isang Pag-IBIG Housing Loan,                maaari siyang mag-apply ng Special Housing Loan Restructuring Program para sa bawat account.

13.  Ano ang kinakailangang gawin ng isang Pag-IBIG Housing Loan borrower kung sakaling hindi siya mag-apply o maaprubahan sa Special Housing Loan Restructuring Program na ito?

Kung sakaling hindi makakapag-apply o maaprubahan sa Special Housing Loan Restructuring Program na ito ang isang Pag-IBIG Housing Loan borrower, kinakailangan niyang ipagpatuloy ang pagbabayad sa nasabing loan upang maisaayos ang kanyang account at maiwasan ang cancellation o foreclosure nito.

Maaari rin namang makapag-avail ang nasabing borrower ng iba pang programa ng Pag-IBIG Fund na naglalayong maisaayos ang kanyang account.

Gayunpaman, ang Special Housing Loan Restructuring Program ay may mga katangiang lubos na makatutulong sa mga Pag-IBIG Housing Loan borrowers lalo na sa mga panahong ito, kaya’t mariing hinihikayat ang mga nasabing borrowers na mag-apply at samantalahin ang programang ito.

14. Paano mag-apply para sa Special Housing Loan Restructuring Program na ito ng Pag-IBIG Fund?

Bumisita po lamang sa Virtual Pag-IBIG na matatagpuan sa Pag-IBIG Fund website upang makapag-apply sa mas ligtas at mas madaling paraan sa Special Housing Loan Restructuring Program ng Pag-IBIG Fund.

Matapos makapag-apply, makakatanggap ang Pag-IBIG Housing Loan borrower ng Reference Number bilang patunay na natanggap ang kanyang aplikasyon. Ang Reference Number na ito ay siya ring gagamitin ng nasabing borrower kung nais niyang alamin ang status ng kanyang aplikasyon.

15.  Ano ang mga kinakailangang dokumento upang makapag-apply sa Special Housing Loan Restructuring Program ng Pag-IBIG Fund?

Upang lalong mapadali ang aplikasyon ng isang Pag-IBIG Housing Loan Borrower sa programang ito, hindi na niya kinakailangan pang magsumite ng kahit anong dokumento para makapag-apply sa Special Housing Loan Restructuring Program ng Pag-IBIG Fund.

16. Paano mag-apply ng Special Housing Loan Restructuring Program?

Sa mga nagnanais mag-apply ng Special Housing Loan Restructuring Program, bumisita lamang sa Virtual Pag-IBIG na matatagpuan sa Pag-IBIG Fund website www.pagibigfund.gov.ph

o i-click ang link na ito: https://www.pagibigfundservices.com/virtualpag.../Loans.aspx upang makapag-apply sa mas ligtas at mas madaling paraan sa Special Housing Loan Restructuring Program ng Pag-IBIG Fund.

Matapos makapag-apply, makakatanggap ang Pag-IBIG Housing Loan borrower ng Reference Number bilang patunay na natanggap ang kanyang aplikasyon. Ang Reference Number na ito ay siya ring gagamitin ng nasabing borrower kung nais niyang alamin ang status ng kanyang aplikasyon. 

17.  Paano malalaman kung approved na ang application for Special Housing Loan Restructuring Program ng isang miyembro?

Makakatanggap ng email o text message ang isang Pag-IBIG Housing Loan borrower na nag-apply sa programang ito, oras na maaprubahan ang kanyang aplikasyon.
Matatanggap niya ito sa email address o mobile phone number na kanyang in-enter sa kanyang aplikasyon.

18.  Anong mga programa ang maaaring apply-an ng isang Pag-IBIG Housing Loan borrower na hindi maaaprubahan sa Special Housing Loan Restructuring Program upang maisaayos ang kanyang account.

Ang isang Pag-IBIG Fund Housing Loan borrower ay maaaring mag-apply sa Regular Housing Loan Restructuring, Non-Performing Asset Resolution Program, o Plan of Payment – mga programang naglalayon ding maisaayos ang pagbabayad ng kanyang Pag-IBIG Housing Loan at higit sa lahat, mapanatili sa kanyang pag-aari ang kanyang tahanan.

©2020 THOUGHTSKOTO
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Wednesday, October 14, 2020

Paano Mag-Apply ng Salary Loan sa Pag-IBIG Fund?




Maliban sa housing loan na main purpose ng Pag-IBIG Fund, alam mo ba na bilang isang Pag-IBIG member, maa-ari ka ring mag-apply ng Pag-IBIG Salary Loan?

Kilala din sa tawag na Pag-IBIG Multipurpose Loan ang Pag-IBIG Salary Loan. Isa itong cash assistance program na maaaring i-avail ng mga Pag-IBIG member. Kung ikaw ay kwalipikado, maaari kang maka-loan ng hanggang sa 80% ng iyong Pag-IBIG regular savings. Madali rin ang proseso ng loan basta't kumpleto ka sa mga requirements na kinakailangan.


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Ngayon, paano mag-apply ng Pag-IBIG Salary Loan?

Para ma-qualify sa Pag-IBIG Salary Loan, kailangang kumpletuhin ng miyembro ang mga sumusunod na requirements;
  • May total Pag-IBIG Fund savings na P4,800 o hindi bababa sa 24 monthly Membership Savings (MS)
  • Nakapag-hulog ng Membership Savings sa nakaraang anim na buwan bago pa man ang petsa ng loan application
  • May sapat na proof of income
Sa mga Pag-IBIG members naman na may kasalukuyang Pag-IBIG Housing Loan o Pag-IBIG Calamity Loan, importanteng hindi default ang account sa petsa ng application.


Anu-ano ang mga requirements para sa Pag-IBIG Salary Loan?
  • Photocopies ng dalawang ID with picture at pirma.
  • Latest payslip kung saan makikita ang buwanang sweldo
  • Napunan na Pag-IBIG Multi-Purpose Loan Application form.
Kailangang active din ang membership sa Pag-IBIG ng isang miyembro sa panahon ng kanyang loan application at may hindi bababa sa limang contribution sa nakaraaang anim na buwan.

Kailangan din sa application form ang impormasyon ng iyong employer kung kaya't importante ihanda ang mga sumusunod;
  • Signature of Office Head/ or Authorized Representative
  • Employer/Company Name
  • SSS/GSIS No.
  • Agency Code and Branch Code

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Paano ang proseso ng loan application?

Kung sa tingin mo, kwalipikado ka paga sa pag-apply ng Pag-IBIG Salary Loan at nakumpleto mo na rin ang mga dokumentong kinakailangan, isumite lamang ito sa inyong HR officer at makipag-ugnayan sa kanila para sa iyong application.

Kung ikaw naman ay self-employed, maaring bumisita sa pinaka-malapit na Pag-IBIG Branch sa inyong lugar at doon ipasa ang mga requirements para sa approval.

Dahil sa pandemya, inanunsyo ng Pag-IBIG na tumatanggap na rin sila ng loan application online. Para sa mga employed members, pareho lamang ang proseso, kailangan lamang isumite sa inyong HR Department ang mga requirements at sila na ang bahala sa application mo, pero kailangan mo ring i-follow up.

Sa mga self-employed naman, maaring mag-apply ng Pag-IBIG Salary o Multipurpose Loan at iba pang short term loan, maging ng housing loan sa Virtual Pag-IBIG platform —https://www.pagibigfundservices.com/virtualpagibig/

Paano Ko Matatanggap ang Aking Salary Loan?

Kung walang magiging problema sa loan application, agad itong aaprobahan ng Pag-IBIG at matatanggap mo ang iyong hiniram na pera aliman sa mga sumusunod;

  • Crediting to your disbursement card
  • Check issuance
  • Bank transfer through Landbank, DBP, or UCBP cash card
  • Loan issuance to your Pag-IBIG Loyalty Card Plus
Saan Ko Babayaran ang Aking Pag-IBIG Salary Loan?

Importanteng bayaran sa takdang panahon ang loan para maka-iwas sa mataas na interes. Ang Pag-IBIG Salary o Multipurpose Loan ay maaring bayaran sa loob ng 24 bulan at may grace period na dalawang buwan.

Ang Pag-IBIG Loan ay maaring bayaran sa pamamagitan ng salary deduction para sa mga employed members.

Over the counter naman o sa mga Pag-IBIG offices o online maaring ang loan ng mga Individual payers.


©2020 THOUGHTSKOTO
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Wednesday, May 16, 2018

Dreaming a House? 8 Tips on How to Save for a Down Payment



One of the most important and expensive things a person can purchase is a house. But many of us cannot afford to pay the total amount of a house at once. That is why we are planning to apply for a housing loan in Pag-IBIG or any private financial institution that offers a home loan with the lowest interest as possible.
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One of the most important and expensive things a person can purchase is a house. But many of us cannot afford to pay the total amount of a house at once. That is why we are planning to apply for a housing loan in Pag-IBIG or any private financial institution that offers a home loan with the lowest interest as possible. To start with our application we need a downpayment. Be it for reservation, developer's fee or for a principal amount of your loan. Always remember that the higher the down payment, the lower your monthly amortization and interest. With this, we need to save enough for our downpayment. But how? The following are 10 tips on how to save for your home downpayment. These tips are effective especially if followed religiously. 1. Make and Set a Realistic Goal If you are planning to apply for a housing loan or buy a house, the first thing you should do is to set a realistic amount that your financial capacity can accommodate. Financial advisors recommend the “2.5 rule”; that is, take your annual income and multiply it by 2.5. The product is the cost of the property you can afford. For example, if your monthly take-home pay (after deductions and taxes) is Php50,000, then the price of the property you can afford is Php1.5 million. From here you can determine how much money you should have for down payment, which at 20 percent of the purchase price should be P300,000. 2. Open a Savings Account The first and most important step to save for your down payment is to open an account where you can deposit your money. With your regular savings, you can stay on top of your finances. In that way, you can make sure your savings are dedicated to what is most important. With a separate savings account, it is harder for you to withdraw your saved money. 3. Save the Tenth Part of Your Monthly Salary Aside from your tithing, save 10 percent of your net monthly income for your house downpayment. Remember, always pay yourself first in the form of savings. This is an old yet reliable approach to save. It will take you a long way but it won't take forever. You have to start this as soon as possible. The 10 percent of your monthly salary must be deposited into your savings account. 4. Sell Stuff You Don’t Need Giving things you don't need is nice. But if you need money for more important things you can sell stuff you don't need at home. Just be practical. You can sell unwanted household goods or make a garage sale of your clothes and shoes you no longer use PlayStation, Xbox and other items that only collect dust and use space in your house. Put the money in your savings account. 5. Eliminate the Luxuries If you want to fast-track your savings for your home down payment, you need to eliminate some of your luxuries. This may include once-a-week lunch at a fancy restaurant, night out with friends, new clothing every four-weeks, buying of a high-tech phone once in a while among others. Before spending your hard-earned money, ask yourself first, it is a "wants" or a "need"? Within a year, your barkada may brand you as "killjoy" but this strategy can save you a thousand of pesos aside from the sense of fulfillment and financial independence. 6. Live not within but below your means If you live within your means, nothing left for you to save. Instead, live below your means so that you can save for your downpayment. Spend responsibly and avoid any reckless or unnecessary spending. Avoid impulsive buying and be frugal. 7. Look for a Part-time job If you are really serious about saving for a home down payment, then you have to look for another source of income. You can use your skills and talent with this in your free-time. A part-time job like tutoring, computer repair, driving, travel guide, and other freelance work. There are websites that have listings of part-time jobs for professionals, such as WriterAccess for writers and editors, DesignCrowd for artists and graphic designers, and Elance and oDesk for everyone else. 8. Pay off Your Credit Card Debt on Time Paying your credit card bills on time will save you on interest charges in the long term. Financial advisors recommend eliminating the use of credit card. They say if you can’t afford to pay for an item in cash, then you can’t afford it, period. By following these tips, you can secure your house downpayment within few years. Having a house is one of the best things we can have not just for ourselves but also for our family. For all of us who dreams a house to call our own, it is never too soon or too late to start saving. Start today and keep working towards your goal.
To start with our application we need a downpayment. Be it for reservation, developer's fee or for a principal amount of your loan. Always remember that the higher the down payment, the lower your monthly amortization and interest. With this, we need to save enough for our downpayment. But how? The following are 8 tips on how to save for your home downpayment. These tips are effective especially if followed religiously.

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1. Make and Set a Realistic Goal



If you are planning to apply for a housing loan or buy a house, the first thing you should do is to set a realistic amount that your financial capacity can accommodate. Financial advisors recommend the “2.5 rule”; that is, take your annual income and multiply it by 2.5. The product is the cost of the property you can afford.


For example, if your monthly take-home pay (after deductions and taxes) is Php50,000, then the price of the property you can afford is Php1.5 million. From here you can determine how much money you should have for down payment, which at 20 percent of the purchase price should be P300,000.

One of the most important and expensive things a person can purchase is a house. But many of us cannot afford to pay the total amount of a house at once. That is why we are planning to apply for a housing loan in Pag-IBIG or any private financial institution that offers a home loan with the lowest interest as possible. To start with our application we need a downpayment. Be it for reservation, developer's fee or for a principal amount of your loan. Always remember that the higher the down payment, the lower your monthly amortization and interest. With this, we need to save enough for our downpayment. But how? The following are 10 tips on how to save for your home downpayment. These tips are effective especially if followed religiously. 1. Make and Set a Realistic Goal If you are planning to apply for a housing loan or buy a house, the first thing you should do is to set a realistic amount that your financial capacity can accommodate. Financial advisors recommend the “2.5 rule”; that is, take your annual income and multiply it by 2.5. The product is the cost of the property you can afford. For example, if your monthly take-home pay (after deductions and taxes) is Php50,000, then the price of the property you can afford is Php1.5 million. From here you can determine how much money you should have for down payment, which at 20 percent of the purchase price should be P300,000. 2. Open a Savings Account The first and most important step to save for your down payment is to open an account where you can deposit your money. With your regular savings, you can stay on top of your finances. In that way, you can make sure your savings are dedicated to what is most important. With a separate savings account, it is harder for you to withdraw your saved money. 3. Save the Tenth Part of Your Monthly Salary Aside from your tithing, save 10 percent of your net monthly income for your house downpayment. Remember, always pay yourself first in the form of savings. This is an old yet reliable approach to save. It will take you a long way but it won't take forever. You have to start this as soon as possible. The 10 percent of your monthly salary must be deposited into your savings account. 4. Sell Stuff You Don’t Need Giving things you don't need is nice. But if you need money for more important things you can sell stuff you don't need at home. Just be practical. You can sell unwanted household goods or make a garage sale of your clothes and shoes you no longer use PlayStation, Xbox and other items that only collect dust and use space in your house. Put the money in your savings account. 5. Eliminate the Luxuries If you want to fast-track your savings for your home down payment, you need to eliminate some of your luxuries. This may include once-a-week lunch at a fancy restaurant, night out with friends, new clothing every four-weeks, buying of a high-tech phone once in a while among others. Before spending your hard-earned money, ask yourself first, it is a "wants" or a "need"? Within a year, your barkada may brand you as "killjoy" but this strategy can save you a thousand of pesos aside from the sense of fulfillment and financial independence. 6. Live not within but below your means If you live within your means, nothing left for you to save. Instead, live below your means so that you can save for your downpayment. Spend responsibly and avoid any reckless or unnecessary spending. Avoid impulsive buying and be frugal. 7. Look for a Part-time job If you are really serious about saving for a home down payment, then you have to look for another source of income. You can use your skills and talent with this in your free-time. A part-time job like tutoring, computer repair, driving, travel guide, and other freelance work. There are websites that have listings of part-time jobs for professionals, such as WriterAccess for writers and editors, DesignCrowd for artists and graphic designers, and Elance and oDesk for everyone else. 8. Pay off Your Credit Card Debt on Time Paying your credit card bills on time will save you on interest charges in the long term. Financial advisors recommend eliminating the use of credit card. They say if you can’t afford to pay for an item in cash, then you can’t afford it, period. By following these tips, you can secure your house downpayment within few years. Having a house is one of the best things we can have not just for ourselves but also for our family. For all of us who dreams a house to call our own, it is never too soon or too late to start saving. Start today and keep working towards your goal.

2. Open a Savings Account



The first and most important step to save for your down payment is to open an account where you can deposit your money. With your regular savings, you can stay on top of your finances. In that way, you can make sure your savings are dedicated to what is most important. With a separate savings account, it is harder for you to withdraw your saved money.
One of the most important and expensive things a person can purchase is a house. But many of us cannot afford to pay the total amount of a house at once. That is why we are planning to apply for a housing loan in Pag-IBIG or any private financial institution that offers a home loan with the lowest interest as possible. To start with our application we need a downpayment. Be it for reservation, developer's fee or for a principal amount of your loan. Always remember that the higher the down payment, the lower your monthly amortization and interest. With this, we need to save enough for our downpayment. But how? The following are 10 tips on how to save for your home downpayment. These tips are effective especially if followed religiously. 1. Make and Set a Realistic Goal If you are planning to apply for a housing loan or buy a house, the first thing you should do is to set a realistic amount that your financial capacity can accommodate. Financial advisors recommend the “2.5 rule”; that is, take your annual income and multiply it by 2.5. The product is the cost of the property you can afford. For example, if your monthly take-home pay (after deductions and taxes) is Php50,000, then the price of the property you can afford is Php1.5 million. From here you can determine how much money you should have for down payment, which at 20 percent of the purchase price should be P300,000. 2. Open a Savings Account The first and most important step to save for your down payment is to open an account where you can deposit your money. With your regular savings, you can stay on top of your finances. In that way, you can make sure your savings are dedicated to what is most important. With a separate savings account, it is harder for you to withdraw your saved money. 3. Save the Tenth Part of Your Monthly Salary Aside from your tithing, save 10 percent of your net monthly income for your house downpayment. Remember, always pay yourself first in the form of savings. This is an old yet reliable approach to save. It will take you a long way but it won't take forever. You have to start this as soon as possible. The 10 percent of your monthly salary must be deposited into your savings account. 4. Sell Stuff You Don’t Need Giving things you don't need is nice. But if you need money for more important things you can sell stuff you don't need at home. Just be practical. You can sell unwanted household goods or make a garage sale of your clothes and shoes you no longer use PlayStation, Xbox and other items that only collect dust and use space in your house. Put the money in your savings account. 5. Eliminate the Luxuries If you want to fast-track your savings for your home down payment, you need to eliminate some of your luxuries. This may include once-a-week lunch at a fancy restaurant, night out with friends, new clothing every four-weeks, buying of a high-tech phone once in a while among others. Before spending your hard-earned money, ask yourself first, it is a "wants" or a "need"? Within a year, your barkada may brand you as "killjoy" but this strategy can save you a thousand of pesos aside from the sense of fulfillment and financial independence. 6. Live not within but below your means If you live within your means, nothing left for you to save. Instead, live below your means so that you can save for your downpayment. Spend responsibly and avoid any reckless or unnecessary spending. Avoid impulsive buying and be frugal. 7. Look for a Part-time job If you are really serious about saving for a home down payment, then you have to look for another source of income. You can use your skills and talent with this in your free-time. A part-time job like tutoring, computer repair, driving, travel guide, and other freelance work. There are websites that have listings of part-time jobs for professionals, such as WriterAccess for writers and editors, DesignCrowd for artists and graphic designers, and Elance and oDesk for everyone else. 8. Pay off Your Credit Card Debt on Time Paying your credit card bills on time will save you on interest charges in the long term. Financial advisors recommend eliminating the use of credit card. They say if you can’t afford to pay for an item in cash, then you can’t afford it, period. By following these tips, you can secure your house downpayment within few years. Having a house is one of the best things we can have not just for ourselves but also for our family. For all of us who dreams a house to call our own, it is never too soon or too late to start saving. Start today and keep working towards your goal.
3. Save the Tenth Part of Your Monthly Salary



Aside from your tithing, save 10 percent of your net monthly income for your house downpayment. Remember, always pay yourself first in the form of savings. This is an old yet reliable approach to save. It will take you a long way but it won't take forever. You have to start this as soon as possible. The 10 percent of your monthly salary must be deposited into your savings account.

One of the most important and expensive things a person can purchase is a house. But many of us cannot afford to pay the total amount of a house at once. That is why we are planning to apply for a housing loan in Pag-IBIG or any private financial institution that offers a home loan with the lowest interest as possible. To start with our application we need a downpayment. Be it for reservation, developer's fee or for a principal amount of your loan. Always remember that the higher the down payment, the lower your monthly amortization and interest. With this, we need to save enough for our downpayment. But how? The following are 10 tips on how to save for your home downpayment. These tips are effective especially if followed religiously. 1. Make and Set a Realistic Goal If you are planning to apply for a housing loan or buy a house, the first thing you should do is to set a realistic amount that your financial capacity can accommodate. Financial advisors recommend the “2.5 rule”; that is, take your annual income and multiply it by 2.5. The product is the cost of the property you can afford. For example, if your monthly take-home pay (after deductions and taxes) is Php50,000, then the price of the property you can afford is Php1.5 million. From here you can determine how much money you should have for down payment, which at 20 percent of the purchase price should be P300,000. 2. Open a Savings Account The first and most important step to save for your down payment is to open an account where you can deposit your money. With your regular savings, you can stay on top of your finances. In that way, you can make sure your savings are dedicated to what is most important. With a separate savings account, it is harder for you to withdraw your saved money. 3. Save the Tenth Part of Your Monthly Salary Aside from your tithing, save 10 percent of your net monthly income for your house downpayment. Remember, always pay yourself first in the form of savings. This is an old yet reliable approach to save. It will take you a long way but it won't take forever. You have to start this as soon as possible. The 10 percent of your monthly salary must be deposited into your savings account. 4. Sell Stuff You Don’t Need Giving things you don't need is nice. But if you need money for more important things you can sell stuff you don't need at home. Just be practical. You can sell unwanted household goods or make a garage sale of your clothes and shoes you no longer use PlayStation, Xbox and other items that only collect dust and use space in your house. Put the money in your savings account. 5. Eliminate the Luxuries If you want to fast-track your savings for your home down payment, you need to eliminate some of your luxuries. This may include once-a-week lunch at a fancy restaurant, night out with friends, new clothing every four-weeks, buying of a high-tech phone once in a while among others. Before spending your hard-earned money, ask yourself first, it is a "wants" or a "need"? Within a year, your barkada may brand you as "killjoy" but this strategy can save you a thousand of pesos aside from the sense of fulfillment and financial independence. 6. Live not within but below your means If you live within your means, nothing left for you to save. Instead, live below your means so that you can save for your downpayment. Spend responsibly and avoid any reckless or unnecessary spending. Avoid impulsive buying and be frugal. 7. Look for a Part-time job If you are really serious about saving for a home down payment, then you have to look for another source of income. You can use your skills and talent with this in your free-time. A part-time job like tutoring, computer repair, driving, travel guide, and other freelance work. There are websites that have listings of part-time jobs for professionals, such as WriterAccess for writers and editors, DesignCrowd for artists and graphic designers, and Elance and oDesk for everyone else. 8. Pay off Your Credit Card Debt on Time Paying your credit card bills on time will save you on interest charges in the long term. Financial advisors recommend eliminating the use of credit card. They say if you can’t afford to pay for an item in cash, then you can’t afford it, period. By following these tips, you can secure your house downpayment within few years. Having a house is one of the best things we can have not just for ourselves but also for our family. For all of us who dreams a house to call our own, it is never too soon or too late to start saving. Start today and keep working towards your goal.
4. Sell Stuff You Don’t Need



Giving things you don't need is nice. But if you need money for more important things you can sell stuff you don't need at home. Just be practical. You can sell unwanted household goods or make a garage sale of your clothes and shoes you no longer use PlayStation, Xbox and other items that only collect dust and use space in your house. Put the money in your savings account. 
One of the most important and expensive things a person can purchase is a house. But many of us cannot afford to pay the total amount of a house at once. That is why we are planning to apply for a housing loan in Pag-IBIG or any private financial institution that offers a home loan with the lowest interest as possible. To start with our application we need a downpayment. Be it for reservation, developer's fee or for a principal amount of your loan. Always remember that the higher the down payment, the lower your monthly amortization and interest. With this, we need to save enough for our downpayment. But how? The following are 10 tips on how to save for your home downpayment. These tips are effective especially if followed religiously. 1. Make and Set a Realistic Goal If you are planning to apply for a housing loan or buy a house, the first thing you should do is to set a realistic amount that your financial capacity can accommodate. Financial advisors recommend the “2.5 rule”; that is, take your annual income and multiply it by 2.5. The product is the cost of the property you can afford. For example, if your monthly take-home pay (after deductions and taxes) is Php50,000, then the price of the property you can afford is Php1.5 million. From here you can determine how much money you should have for down payment, which at 20 percent of the purchase price should be P300,000. 2. Open a Savings Account The first and most important step to save for your down payment is to open an account where you can deposit your money. With your regular savings, you can stay on top of your finances. In that way, you can make sure your savings are dedicated to what is most important. With a separate savings account, it is harder for you to withdraw your saved money. 3. Save the Tenth Part of Your Monthly Salary Aside from your tithing, save 10 percent of your net monthly income for your house downpayment. Remember, always pay yourself first in the form of savings. This is an old yet reliable approach to save. It will take you a long way but it won't take forever. You have to start this as soon as possible. The 10 percent of your monthly salary must be deposited into your savings account. 4. Sell Stuff You Don’t Need Giving things you don't need is nice. But if you need money for more important things you can sell stuff you don't need at home. Just be practical. You can sell unwanted household goods or make a garage sale of your clothes and shoes you no longer use PlayStation, Xbox and other items that only collect dust and use space in your house. Put the money in your savings account. 5. Eliminate the Luxuries If you want to fast-track your savings for your home down payment, you need to eliminate some of your luxuries. This may include once-a-week lunch at a fancy restaurant, night out with friends, new clothing every four-weeks, buying of a high-tech phone once in a while among others. Before spending your hard-earned money, ask yourself first, it is a "wants" or a "need"? Within a year, your barkada may brand you as "killjoy" but this strategy can save you a thousand of pesos aside from the sense of fulfillment and financial independence. 6. Live not within but below your means If you live within your means, nothing left for you to save. Instead, live below your means so that you can save for your downpayment. Spend responsibly and avoid any reckless or unnecessary spending. Avoid impulsive buying and be frugal. 7. Look for a Part-time job If you are really serious about saving for a home down payment, then you have to look for another source of income. You can use your skills and talent with this in your free-time. A part-time job like tutoring, computer repair, driving, travel guide, and other freelance work. There are websites that have listings of part-time jobs for professionals, such as WriterAccess for writers and editors, DesignCrowd for artists and graphic designers, and Elance and oDesk for everyone else. 8. Pay off Your Credit Card Debt on Time Paying your credit card bills on time will save you on interest charges in the long term. Financial advisors recommend eliminating the use of credit card. They say if you can’t afford to pay for an item in cash, then you can’t afford it, period. By following these tips, you can secure your house downpayment within few years. Having a house is one of the best things we can have not just for ourselves but also for our family. For all of us who dreams a house to call our own, it is never too soon or too late to start saving. Start today and keep working towards your goal.
5. Eliminate the Luxuries

If you want to fast-track your savings for your home down payment, you need to eliminate some of your luxuries. This may include once-a-week lunch at a fancy restaurant, night out with friends, new clothing every four-weeks, buying of a high-tech phone once in a while among others. Before spending your hard-earned money, ask yourself first, it is a "wants" or a "need"? Within a year, your barkada may brand you as "killjoy" but this strategy can save you a thousand of pesos aside from the sense of fulfillment and financial independence.
One of the most important and expensive things a person can purchase is a house. But many of us cannot afford to pay the total amount of a house at once. That is why we are planning to apply for a housing loan in Pag-IBIG or any private financial institution that offers a home loan with the lowest interest as possible. To start with our application we need a downpayment. Be it for reservation, developer's fee or for a principal amount of your loan. Always remember that the higher the down payment, the lower your monthly amortization and interest. With this, we need to save enough for our downpayment. But how? The following are 10 tips on how to save for your home downpayment. These tips are effective especially if followed religiously. 1. Make and Set a Realistic Goal If you are planning to apply for a housing loan or buy a house, the first thing you should do is to set a realistic amount that your financial capacity can accommodate. Financial advisors recommend the “2.5 rule”; that is, take your annual income and multiply it by 2.5. The product is the cost of the property you can afford. For example, if your monthly take-home pay (after deductions and taxes) is Php50,000, then the price of the property you can afford is Php1.5 million. From here you can determine how much money you should have for down payment, which at 20 percent of the purchase price should be P300,000. 2. Open a Savings Account The first and most important step to save for your down payment is to open an account where you can deposit your money. With your regular savings, you can stay on top of your finances. In that way, you can make sure your savings are dedicated to what is most important. With a separate savings account, it is harder for you to withdraw your saved money. 3. Save the Tenth Part of Your Monthly Salary Aside from your tithing, save 10 percent of your net monthly income for your house downpayment. Remember, always pay yourself first in the form of savings. This is an old yet reliable approach to save. It will take you a long way but it won't take forever. You have to start this as soon as possible. The 10 percent of your monthly salary must be deposited into your savings account. 4. Sell Stuff You Don’t Need Giving things you don't need is nice. But if you need money for more important things you can sell stuff you don't need at home. Just be practical. You can sell unwanted household goods or make a garage sale of your clothes and shoes you no longer use PlayStation, Xbox and other items that only collect dust and use space in your house. Put the money in your savings account. 5. Eliminate the Luxuries If you want to fast-track your savings for your home down payment, you need to eliminate some of your luxuries. This may include once-a-week lunch at a fancy restaurant, night out with friends, new clothing every four-weeks, buying of a high-tech phone once in a while among others. Before spending your hard-earned money, ask yourself first, it is a "wants" or a "need"? Within a year, your barkada may brand you as "killjoy" but this strategy can save you a thousand of pesos aside from the sense of fulfillment and financial independence. 6. Live not within but below your means If you live within your means, nothing left for you to save. Instead, live below your means so that you can save for your downpayment. Spend responsibly and avoid any reckless or unnecessary spending. Avoid impulsive buying and be frugal. 7. Look for a Part-time job If you are really serious about saving for a home down payment, then you have to look for another source of income. You can use your skills and talent with this in your free-time. A part-time job like tutoring, computer repair, driving, travel guide, and other freelance work. There are websites that have listings of part-time jobs for professionals, such as WriterAccess for writers and editors, DesignCrowd for artists and graphic designers, and Elance and oDesk for everyone else. 8. Pay off Your Credit Card Debt on Time Paying your credit card bills on time will save you on interest charges in the long term. Financial advisors recommend eliminating the use of credit card. They say if you can’t afford to pay for an item in cash, then you can’t afford it, period. By following these tips, you can secure your house downpayment within few years. Having a house is one of the best things we can have not just for ourselves but also for our family. For all of us who dreams a house to call our own, it is never too soon or too late to start saving. Start today and keep working towards your goal.
6. Live not within but below your means

If you live within your means, nothing left for you to save. Instead, live below your means so that you can save for your downpayment. Spend responsibly and avoid any reckless or unnecessary spending. Avoid impulsive buying and be frugal.
One of the most important and expensive things a person can purchase is a house. But many of us cannot afford to pay the total amount of a house at once. That is why we are planning to apply for a housing loan in Pag-IBIG or any private financial institution that offers a home loan with the lowest interest as possible. To start with our application we need a downpayment. Be it for reservation, developer's fee or for a principal amount of your loan. Always remember that the higher the down payment, the lower your monthly amortization and interest. With this, we need to save enough for our downpayment. But how? The following are 10 tips on how to save for your home downpayment. These tips are effective especially if followed religiously. 1. Make and Set a Realistic Goal If you are planning to apply for a housing loan or buy a house, the first thing you should do is to set a realistic amount that your financial capacity can accommodate. Financial advisors recommend the “2.5 rule”; that is, take your annual income and multiply it by 2.5. The product is the cost of the property you can afford. For example, if your monthly take-home pay (after deductions and taxes) is Php50,000, then the price of the property you can afford is Php1.5 million. From here you can determine how much money you should have for down payment, which at 20 percent of the purchase price should be P300,000. 2. Open a Savings Account The first and most important step to save for your down payment is to open an account where you can deposit your money. With your regular savings, you can stay on top of your finances. In that way, you can make sure your savings are dedicated to what is most important. With a separate savings account, it is harder for you to withdraw your saved money. 3. Save the Tenth Part of Your Monthly Salary Aside from your tithing, save 10 percent of your net monthly income for your house downpayment. Remember, always pay yourself first in the form of savings. This is an old yet reliable approach to save. It will take you a long way but it won't take forever. You have to start this as soon as possible. The 10 percent of your monthly salary must be deposited into your savings account. 4. Sell Stuff You Don’t Need Giving things you don't need is nice. But if you need money for more important things you can sell stuff you don't need at home. Just be practical. You can sell unwanted household goods or make a garage sale of your clothes and shoes you no longer use PlayStation, Xbox and other items that only collect dust and use space in your house. Put the money in your savings account. 5. Eliminate the Luxuries If you want to fast-track your savings for your home down payment, you need to eliminate some of your luxuries. This may include once-a-week lunch at a fancy restaurant, night out with friends, new clothing every four-weeks, buying of a high-tech phone once in a while among others. Before spending your hard-earned money, ask yourself first, it is a "wants" or a "need"? Within a year, your barkada may brand you as "killjoy" but this strategy can save you a thousand of pesos aside from the sense of fulfillment and financial independence. 6. Live not within but below your means If you live within your means, nothing left for you to save. Instead, live below your means so that you can save for your downpayment. Spend responsibly and avoid any reckless or unnecessary spending. Avoid impulsive buying and be frugal. 7. Look for a Part-time job If you are really serious about saving for a home down payment, then you have to look for another source of income. You can use your skills and talent with this in your free-time. A part-time job like tutoring, computer repair, driving, travel guide, and other freelance work. There are websites that have listings of part-time jobs for professionals, such as WriterAccess for writers and editors, DesignCrowd for artists and graphic designers, and Elance and oDesk for everyone else. 8. Pay off Your Credit Card Debt on Time Paying your credit card bills on time will save you on interest charges in the long term. Financial advisors recommend eliminating the use of credit card. They say if you can’t afford to pay for an item in cash, then you can’t afford it, period. By following these tips, you can secure your house downpayment within few years. Having a house is one of the best things we can have not just for ourselves but also for our family. For all of us who dreams a house to call our own, it is never too soon or too late to start saving. Start today and keep working towards your goal.
7. Look for a Part-time job

If you are really serious about saving for a home down payment, then you have to look for another source of income. You can use your skills and talent with this in your free-time. A part-time job like tutoring, computer repair, driving, travel guide, and other freelance work. There are websites that have listings of part-time jobs for professionals, such as WriterAccess for writers and editors, DesignCrowd for artists and graphic designers, and Elance and oDesk for everyone else.
One of the most important and expensive things a person can purchase is a house. But many of us cannot afford to pay the total amount of a house at once. That is why we are planning to apply for a housing loan in Pag-IBIG or any private financial institution that offers a home loan with the lowest interest as possible. To start with our application we need a downpayment. Be it for reservation, developer's fee or for a principal amount of your loan. Always remember that the higher the down payment, the lower your monthly amortization and interest. With this, we need to save enough for our downpayment. But how? The following are 10 tips on how to save for your home downpayment. These tips are effective especially if followed religiously. 1. Make and Set a Realistic Goal If you are planning to apply for a housing loan or buy a house, the first thing you should do is to set a realistic amount that your financial capacity can accommodate. Financial advisors recommend the “2.5 rule”; that is, take your annual income and multiply it by 2.5. The product is the cost of the property you can afford. For example, if your monthly take-home pay (after deductions and taxes) is Php50,000, then the price of the property you can afford is Php1.5 million. From here you can determine how much money you should have for down payment, which at 20 percent of the purchase price should be P300,000. 2. Open a Savings Account The first and most important step to save for your down payment is to open an account where you can deposit your money. With your regular savings, you can stay on top of your finances. In that way, you can make sure your savings are dedicated to what is most important. With a separate savings account, it is harder for you to withdraw your saved money. 3. Save the Tenth Part of Your Monthly Salary Aside from your tithing, save 10 percent of your net monthly income for your house downpayment. Remember, always pay yourself first in the form of savings. This is an old yet reliable approach to save. It will take you a long way but it won't take forever. You have to start this as soon as possible. The 10 percent of your monthly salary must be deposited into your savings account. 4. Sell Stuff You Don’t Need Giving things you don't need is nice. But if you need money for more important things you can sell stuff you don't need at home. Just be practical. You can sell unwanted household goods or make a garage sale of your clothes and shoes you no longer use PlayStation, Xbox and other items that only collect dust and use space in your house. Put the money in your savings account. 5. Eliminate the Luxuries If you want to fast-track your savings for your home down payment, you need to eliminate some of your luxuries. This may include once-a-week lunch at a fancy restaurant, night out with friends, new clothing every four-weeks, buying of a high-tech phone once in a while among others. Before spending your hard-earned money, ask yourself first, it is a "wants" or a "need"? Within a year, your barkada may brand you as "killjoy" but this strategy can save you a thousand of pesos aside from the sense of fulfillment and financial independence. 6. Live not within but below your means If you live within your means, nothing left for you to save. Instead, live below your means so that you can save for your downpayment. Spend responsibly and avoid any reckless or unnecessary spending. Avoid impulsive buying and be frugal. 7. Look for a Part-time job If you are really serious about saving for a home down payment, then you have to look for another source of income. You can use your skills and talent with this in your free-time. A part-time job like tutoring, computer repair, driving, travel guide, and other freelance work. There are websites that have listings of part-time jobs for professionals, such as WriterAccess for writers and editors, DesignCrowd for artists and graphic designers, and Elance and oDesk for everyone else. 8. Pay off Your Credit Card Debt on Time Paying your credit card bills on time will save you on interest charges in the long term. Financial advisors recommend eliminating the use of credit card. They say if you can’t afford to pay for an item in cash, then you can’t afford it, period. By following these tips, you can secure your house downpayment within few years. Having a house is one of the best things we can have not just for ourselves but also for our family. For all of us who dreams a house to call our own, it is never too soon or too late to start saving. Start today and keep working towards your goal.
8. Pay off Your Credit Card Debt on Time

Paying your credit card bills on time will save you on interest charges in the long term. Financial advisors recommend eliminating the use of credit card. They say if you can’t afford to pay for an item in cash, then you can’t afford it, period. 
One of the most important and expensive things a person can purchase is a house. But many of us cannot afford to pay the total amount of a house at once. That is why we are planning to apply for a housing loan in Pag-IBIG or any private financial institution that offers a home loan with the lowest interest as possible. To start with our application we need a downpayment. Be it for reservation, developer's fee or for a principal amount of your loan. Always remember that the higher the down payment, the lower your monthly amortization and interest. With this, we need to save enough for our downpayment. But how? The following are 10 tips on how to save for your home downpayment. These tips are effective especially if followed religiously. 1. Make and Set a Realistic Goal If you are planning to apply for a housing loan or buy a house, the first thing you should do is to set a realistic amount that your financial capacity can accommodate. Financial advisors recommend the “2.5 rule”; that is, take your annual income and multiply it by 2.5. The product is the cost of the property you can afford. For example, if your monthly take-home pay (after deductions and taxes) is Php50,000, then the price of the property you can afford is Php1.5 million. From here you can determine how much money you should have for down payment, which at 20 percent of the purchase price should be P300,000. 2. Open a Savings Account The first and most important step to save for your down payment is to open an account where you can deposit your money. With your regular savings, you can stay on top of your finances. In that way, you can make sure your savings are dedicated to what is most important. With a separate savings account, it is harder for you to withdraw your saved money. 3. Save the Tenth Part of Your Monthly Salary Aside from your tithing, save 10 percent of your net monthly income for your house downpayment. Remember, always pay yourself first in the form of savings. This is an old yet reliable approach to save. It will take you a long way but it won't take forever. You have to start this as soon as possible. The 10 percent of your monthly salary must be deposited into your savings account. 4. Sell Stuff You Don’t Need Giving things you don't need is nice. But if you need money for more important things you can sell stuff you don't need at home. Just be practical. You can sell unwanted household goods or make a garage sale of your clothes and shoes you no longer use PlayStation, Xbox and other items that only collect dust and use space in your house. Put the money in your savings account. 5. Eliminate the Luxuries If you want to fast-track your savings for your home down payment, you need to eliminate some of your luxuries. This may include once-a-week lunch at a fancy restaurant, night out with friends, new clothing every four-weeks, buying of a high-tech phone once in a while among others. Before spending your hard-earned money, ask yourself first, it is a "wants" or a "need"? Within a year, your barkada may brand you as "killjoy" but this strategy can save you a thousand of pesos aside from the sense of fulfillment and financial independence. 6. Live not within but below your means If you live within your means, nothing left for you to save. Instead, live below your means so that you can save for your downpayment. Spend responsibly and avoid any reckless or unnecessary spending. Avoid impulsive buying and be frugal. 7. Look for a Part-time job If you are really serious about saving for a home down payment, then you have to look for another source of income. You can use your skills and talent with this in your free-time. A part-time job like tutoring, computer repair, driving, travel guide, and other freelance work. There are websites that have listings of part-time jobs for professionals, such as WriterAccess for writers and editors, DesignCrowd for artists and graphic designers, and Elance and oDesk for everyone else. 8. Pay off Your Credit Card Debt on Time Paying your credit card bills on time will save you on interest charges in the long term. Financial advisors recommend eliminating the use of credit card. They say if you can’t afford to pay for an item in cash, then you can’t afford it, period. By following these tips, you can secure your house downpayment within few years. Having a house is one of the best things we can have not just for ourselves but also for our family. For all of us who dreams a house to call our own, it is never too soon or too late to start saving. Start today and keep working towards your goal.
By following these tips, you can secure your house down payment within few years. Having a house is one of the best things we can have not just for ourselves but also for our family. For all of us who dreams a house to call our own, it is never too soon or too late to start saving. Start today and keep working towards your goal.

This article is filed under: Finance, Dream House, Downpayment for House, Saving Tips for House, Pag-Ibig Housing Loan, Pag-Ibig, House Finance, House Mortgage

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