Are you ready to fulfill your dream of buying your very own home? Chances are, you may be overwhelmed by the sheer thought of this undertaking, which is perfectly understandable given that it is a huge step. But fear not – purchasing your dream home has never been more exciting, given the wide options out there!
Nook, the first and only online mortgage broker in the country aims to provide every Filipino with the opportunity to make their dream ‘nook’ a reality through hassle-free home loan applications that can be done within the comforts of their own home. No need to go to different banks, wait in line, or meet face-to-face, all thanks to this innovative website!
To make your search worthwhile and efficient, here are four tips to guide you as you begin your journey to owning your dream home.
Identify your “must-haves”
Before you start looking around, think about what you want in a house, and list these down. For instance, do you need a driveway? How many bedrooms are you looking for? Do you prefer a standalone unit or is a condominium more suitable for your purposes? Each option will have a different impact on the price of the property and therefore your monthly budget. By knowing what these are, you can be able to streamline your search easily.
Determine your budget
This step is very important, as buying a house is a big financial responsibility and will impact your finances for the long term, especially if you are going to take out a loan for this. Know how much equity you have available and determine how much you can afford to pay in monthly amortizations. Typically, housing payments should take up no more than 30% to 40% of your monthly income. Once you know the price range you can work with, then your selection will be more focused.
Consider location carefully
You can never underestimate the importance of location, especially in light of the dreadful traffic situation in Manila. While it is understandable that you would want to be close to your present place of work, do consider your future plans and that of your family when choosing between locations. Consider proximity to important destinations, as well as access to transportation hubs. Keep watch on upcoming government infrastructure projects as well.
Compare bank offerings carefully
Banks provide different financing plans and options, which is why you should take a good look at what each one has to offer to know what works best for you. For instance, some banks have longer payment periods, while others do fixed interest rates. You should also consider the fees that various banks charge, and see how flexible their offerings are. Comparing carefully can save thousands or even millions of pesos over the life of the loan.
Thankfully, you can have an easier home-buying process through the online platform, Nook, the first and only online mortgage broker in the Philippines. Designed to make applying for a home loan much simpler and easier, Nook has partnered with eight of the top commercial banks in the Philippines to give home buyers a wide array of financing options that match their needs. The process can be overwhelming without some assistance but Nook helps borrowers through the whole loan process for free.
All that you’ll need is in Nook’s official website!
With Nook, you can now get pre-qualified for a home loan in just minutes, not days. Find out more through the attached press release. Hope you can share these tips with your readers as well.
Lastly, Nook highly encourages everyone to practice self-preventive measures at all times. Your health and safety matters the most!
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