Manifesting my dream home.
Manifesting down payment funds.
Manifesting home loan approval.
Lahat ‘yan posible! Pero sa bawat “manifesting,” may kasabay rin dapat na planning at preparation. Pwede mong gamitin ang home loan to your advantage. Loans, like home loans, can be a tool to help you achieve life goals. There are many offers and flexible terms nowadays, with some up to over 20 years, kaya mas madali na ring makahanap ng pasok sa monthly budget mo.
Gaya ng sabi ng director na si Jose “Joey” Javier Reyes sa Moneygurado Episode 2:
“Can we possibly change the whole concept of ‘utang as a trap’ into ‘utang as a tool’? Yes, we can. But it requires education.”
To help you feel more prepared sa pag-commit sa home ownership, we compiled these essential tips para “Moneygurado” ka as a first-time home buyer.
Handa ka na ba maging homeowner?
“Hindi pa ako sigurado.”
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Check your current financial health. Kamusta ang iyong income, savings, expenses, at mga ongoing debts? Tignan kung ano ang kayang i-support ng finances mo, o anong mga diskarte ang kailangan for added income. Pwede mong gamitin ang aming H.A.N.D.S. financial guide para dito.
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Define the purpose of your loan. Are you purchasing a condo or a house and lot? Titirhan mo ba ito, o gagawin mong investment? Iba-iba ang conditions nila, and it will determine your down payment, loan term, and property expenses afterwards.
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Check your “debt-burden ratio” (DBR). Sabi ng ilang experts, ideal ang 35% and below na DBR kasi ang ibig sabihin nito, only 35% of your monthly income goes to paying off loans. Para ma-compute ang iyong DBR, use pages 175-176 of the Earnest E-book as a guide.
“Sigurado na ako.”
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Check your credit score. Ito ang history mo sa pagbabayad ng debt. Ang good credit score ay pwedeng makatulong sa approval ng loan with good interest rates and term. Pwede mong i-request ito sa mga authorized credit bureau tulad ng Credit Information Corporation.
- Choose the right payment strategy. You won’t regret researching and comparing interest rates and loan offers. Subukang gumawa ng mga sample computation at tingnan kung anong terms ang pasok sa monthly income mo.
- Plan for the future. Kahit may ongoing home loan ka na, kaya mong kumuha ng loan for other goals like a car or a business sa tulong ng early planning. Consider a flexible home loan term that can offer you comfortable monthly payments so you can leave room in your budget for future goals.
Bonus tip: set up auto-deductions or a dedicated savings account for repayments para mas convenient at less stressful ang pagbayad every month.
Take it one tip at a time. By planning, finding the right loan strategy, and preparing financially, mas achievable ang dream home manifestations mo.
To learn more, read and download the Earnest E-book for free.
Disclaimer: This article is for general information purposes and does not constitute formal financial advice. Always do further research before making financial decisions and seek professional advice from a certified personal finance counselor. For more information, read the Earnest disclaimer here.
