Mortgages in Philippines?

Published by Jun | Filed under Mortgages

Are there local mortgages in the Philippines? I’ve been hearing all about this mortgage in abroad. Do you know lists of institution in the Philippines that offers mortages on real estate and other personal properties. And compare mortgages locally? and remortgages available locally?

I wonder if this mortgages will be helpful or will just get you lost everything you work hard.

In the Philippines for instance, foreign nationals can now avail mortgage loans in some local banks where a new financing scheme that for a purchase of Condo units using refinancing an investment through Bank’s Home Loan program. Open to both residential and commercial unit owners and existing buyers whom have paid at least 30% of the total contract price of their units can loan up to 70% of the unit value.

This is new to me and so far i believe this is only available for above middle class families who have steady and stable big income.

Do have your own mortgages nor home loans? I want to hear more stories locally.

Related Posts:

• The Home of Paradise Philippines
• Maling Akala by Tambisan sa Sining
• The Philippines forgotten war: Part 1
• The Philippines forgotten war: Part 2
• Fire Malu Fernandez, The Don Imus of The Philippines