Feel free to check current the Pag-IBIG Fund’s Loan Counseling Seminar Schedule that is most convenient to your personal schedule.

Pag-IBIG hotline number:   724-4244

Photo of Oscar Pistorius, aka Blade Runner, a very fast double amputee runner Source

We are what we repeatedly do. Therefore excellence is not an act, but a habit. -Aristotle

Are there times you wish you were more motivated to earn, to work? This does not just go for corporate employees, but to business owners as well. What if business owners decided they wanted to sleep all day or just loiter at the mall, what would become of their businesses?

Self-motivation had been an interesting subject for years now. In fact, I too, had succumbed to this and decided to read on many ways to motivate myself, but end up frustrated reading success stories of those who motivated themselves while I slumped on a chair reading the article undecided about this topic, and still unsuccessful. Then it dawned on me. Is it just motivation or is it also self-discipline?

With motivation, you can come up with short term goals, mid-term goals, and long term goals to give you an idea of what you want now, next year, and for the years to come. This list will be the driving force for your working hard. On the other hand, there will be days, even weeks when you do not feel like working hard and no amount of motivation will get you through the day. This is where self-discipline comes in. You have to control your mind and body to do what you want it to do. Maybe even to the point of forcing your mind to reject laziness. Sometimes the only way to succeed is to push yourself to the limit and instead of giving yourself a break, which may make way to longer bouts of laziness, you should force yourself to do what you want it to do right this moment. This is the concept of mind over body. While working hard, you can now resume with your motivation – be it building your dream house, losing 20 lbs, travelling Asia or the world, or gaining passive income. But that’s another story.

This is another of HouseCondoEtc’s FREE online forms. Other free forms are: Deed of Absolute Sale form, Special Power of Attoney form, Acknowledgment Receipts form for Documents.

Or click on the FREE Online Forms category below the title to view more forms.

ACKNOWLEDGMENT RECEIPT FOR MONEY

Date:_________________

RECEIVED from _______________________, the amount of ____________________________PESOS ( P _________ ) Philippine Currency, as full/partial payment for the purchase / lease of the property located at _________________________
_____________________________________, covered by TCT No. ________________.

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Another free online form brought to you by HouseCondoEtc.com

Other forms:

Deed of Absolute Sale form, Special Power of Attoney form, FREE Online Forms

ACKNOWLEDGMENT RECEIPT FOR DOCUMENTS

Date: ________________

Received from __________________________ (Listing Broker), REBL No. _________ the documents listed below relative to the sale of a property described as follow:

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This is the third installment of HouseCondoEtc’s FREE online forms. Other free forms are: Deed of Absolute Sale form, Special Power of Attoney form. Or click on the FREE Online Forms category below the title to view more forms.

DEED OF ABSOLUTE SALE

KNOW ALL MEN BY THESE PRESENTS:

This Deed of Absolute Sale, made and executed in ___________________, Metro Manila, Philippines, on this __________________________ day of ______________, by and between:

Spouses_____________________, both of legal age. Filipinos, with residence and postal address at __________________________________ hereinafter called the SELLERS.

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This is the second installment of HouseCondoEtc.com’s free online forms for everyone’s convenience. Just copy, edit, print, sign, and bring to your preferred notary public.

DEED OF SALE
(PORTION OF REAL ESTATE)

KNOW ALL MEN BY THESE PRESENTS:

I, ___________________, Filipino. single (or married to __________________) of legal age, with residence and postal address at _________________________for and in consideration of the sum of ___________________ PESOS (P _________). Philippine Currency, to me in hand paid by _______________ single/married to __________________, of legal age. Filipino, with residence and postal address at ____________________, do hereby SELL, TRANSFER AND CONVEY unto the said ______________ his/her heirs and assigns. that certain parcel (or parcels) situated in ____________, more particularly described as follows, to wit:

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For everyone’s convenience I will be posting a series of forms that anyone can copy and edit freely for their real estate purpose and use. First in this installment is the Special Power of Attorney. After editing this document with your facts, you may proceed to your preferred notary public.

SPECIAL POWER OF ATTORNEY

KNOW ALL MEN BY THESE PRESENTS:

I, _________________________, of legal age, married to _____________________, and presently residing at __________________________________, do hereby NAME, APPOINT and CONSTITUTE __________________________, of legal age, Filipino, married, a resident of and with postal address at ____________________, to be my true and lawful ATTORNEY-IN-FACT, and in my name, place and stead to do and perform the following acts, to wit:

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Once you have learned the BPI Housing Loan Qualifications & Features, submitted your BPI Housing Loan application and requirements for approval, and eventually passed your housing loan, you now have the chance to estimate your monthly amortizations. For everyone’s convenience, I listed an Amortization Factor of BPI’s (Bank of the Philippine Islands) Housing Loan in order for everyone to easily compute their Monthly Amortizations. The current years and rates are as follows:

• 1 year…………………………………………..9.5% (rate)
• 2-3 years……………………………………..9.75%
• 4 years…………………………………………10%
• 5 years…………………………………………10.25%
• 6-10 years…………………………………….11%
• 11-15 years……………………………………11.25%
• 16-20 years…………………………………..11.5%

For instance you inquired with your loan broker at BPI and your loanable amount is P1,000,000, it will be easy for you to compute your monthly amortization on your own be it at 5 years, 10 years, or 20 years.

Just multiply the Loan Amount by the Amortization Factor and it will give you your monthly amortization. Very easy right?

Loan Amount * Amortization Factor = Monthly Amortization

For a P1,000,000 Loan payable in one (1) year, the computation and factor are as follows:

P1,000,000 * 0.0876835118 = P87,683

Another example is a P2,100,000 Loan payable in 10 years:

P2,000,000 * 0.0137750011 = P27,550

You now have an idea to freely compute (or even just estimate!) your monthly amortization.

You can also read:

BPI Family Bank Pre- & Post-Processing Requirements

BPI Housing Loan Qualifications & Features

Loan Application Tips for Expat Pinoys

Housing Loan

• Shelter Acquisition – purchase of house & lot, townhouse, residential condominium & vacant lot
• House Construction
• Home Improvement / Renovation

Property Equity Loan

• Multi-purpose

Qualified Applicant

• Filipino, of legal age but not more than 65 years old upon maturity of loan
• Foreign nationals married to Filipinos, an Affidavit of Support and Waiver of Rights over the collateral property should be executed by the foreigner

Loan Amount “Minimum”

• P400,000.00

Loan Amount “Maximum”

• 70% of appraised value of house and lot
• 60% of appraised value of vacant lot
• 60% of appraised of residential condominium
• Up to 80% of appraised value of house & lot not to exceed P5M (provided applicant is employed and purpose if for owner occupancy)

Loan Term (Maximum)

• 20 years for house & lot
• 10 years for vacant lot
• 10 years for residential condominium
• 10 years for business loan
• 10 years for refinancing
• 5 years for multi-purpose loans

Interest Rate

• Initial rate based on prevailing housing loan rate; rate fixing yearly thereafter based on T-bill (364 days) + 3.5% spread
• For business loans/multi-purpose loans & acquisition/construction/home improvement other than collateral, initial rate based on prevailing housing loan rate + 1%; rate fixing yearly thereafter based on T-bill (364 days) + 4% spread

Collateral :  Registered first real estate mortgage

Gross Monthly Income :  Minimum P40,000

Repayment Mode :  Equal monthly amortization of principal & interest

Payment Option :  Automatic Debit Arrangement with any BPI or BPI Family Savings Bank Branch

Manner of Loan Release

• Lump sum
• Staggered Release (for Construction purposes)

Processing Period : Five (5) days Credit Decision for loan amounts below P5M