Manhattan Garden City [mix]

[-TC-]

Originally Posted by --SuperB0y--

ano yung homelite loan? any details?

http://www.securitybank.com/news/news0610.asp

Megaworld and Security Bank Team Up for 'HOMELITE' Financing Program

Property giant Megaworld Corporation and one of the country’s fastest growing universal banks, Security Bank Corporation, have signed an agreement for the first “truly affordable” financing facility for homebuyers.

The program, dubbed “HOMELITE,” makes owning a home easy by offering fixed interest rates and payment terms that are among the most competitive in the market. And as early as December 2006, HOMELITE will be available exclusively to buyers of Megaworld’s residential projects such as the Manhattan Garden City project at the Araneta Center.

“HOMELITE is the answer to an acute need for a truly affordable and viable home financing facility that will benefit most first-time buyers as well as those who want to invest in property without unduly straining their resources,” said Megaworld Executive Director Kingson Sian.

This inventive product was conceived after the two companies thoroughly studied the target market and reviewed the different financing schemes available in the industry. The competitive advantage of this program among all the other financing programs today is that it is the first and only program to offer smooth end-to-end financing. From the initial contract to sell, the program offers a seamless transition to eventual mortgage which allows Megaworld’s customers access to longer tenor and lower rate financing.

HOMELITE comes in a choice of up to 10 “budget-friendly” packages. Among them are HOMELITE 10, which charges 8.5 percent interest per year fixed for 10 years. HOMELITE 15 keeps the interest rate at 9.75 percent a year for 15 years. Meanwhile, HOMELITE 25 is available at 11 percent interest a year fixed for 25 years.

“Megaworld Corporation will have the distinct advantage of being the first-mover in the market, to carry this particular financing program exclusively for its residential projects. As a breakthrough product, it will revolutionize home financing in the country.” Said Security Bank Senior Vice President and Head of the Corporate Relationship Group, Patricia May T. Siy.

By effectively lowering the cost of buying a home, HOMELITE gives qualified customers the flexibility to invest in more than one residential unit or upgrade their investment to a larger unit. Compared to traditional home financing schemes, HOMELITE is the first end-to-end program to finance a residential project at its pre-selling stage and not upon completion.

[Iyo]

Originally Posted by -TC-

http://www.securitybank.com/news/news0610.asp

Megaworld and Security Bank Team Up for 'HOMELITE' Financing Program

Property giant Megaworld Corporation and one of the country’s fastest growing universal banks, Security Bank Corporation, have signed an agreement for the first “truly affordable” financing facility for homebuyers.

The program, dubbed “HOMELITE,” makes owning a home easy by offering fixed interest rates and payment terms that are among the most competitive in the market. And as early as December 2006, HOMELITE will be available exclusively to buyers of Megaworld’s residential projects such as the Manhattan Garden City project at the Araneta Center.

“HOMELITE is the answer to an acute need for a truly affordable and viable home financing facility that will benefit most first-time buyers as well as those who want to invest in property without unduly straining their resources,” said Megaworld Executive Director Kingson Sian.

This inventive product was conceived after the two companies thoroughly studied the target market and reviewed the different financing schemes available in the industry. The competitive advantage of this program among all the other financing programs today is that it is the first and only program to offer smooth end-to-end financing. From the initial contract to sell, the program offers a seamless transition to eventual mortgage which allows Megaworld’s customers access to longer tenor and lower rate financing.

HOMELITE comes in a choice of up to 10 “budget-friendly” packages. Among them are HOMELITE 10, which charges 8.5 percent interest per year fixed for 10 years. HOMELITE 15 keeps the interest rate at 9.75 percent a year for 15 years. Meanwhile, HOMELITE 25 is available at 11 percent interest a year fixed for 25 years.

“Megaworld Corporation will have the distinct advantage of being the first-mover in the market, to carry this particular financing program exclusively for its residential projects. As a breakthrough product, it will revolutionize home financing in the country.” Said Security Bank Senior Vice President and Head of the Corporate Relationship Group, Patricia May T. Siy.

By effectively lowering the cost of buying a home, HOMELITE gives qualified customers the flexibility to invest in more than one residential unit or upgrade their investment to a larger unit. Compared to traditional home financing schemes, HOMELITE is the first end-to-end program to finance a residential project at its pre-selling stage and not upon completion.

okay...but if we only plan to pay for 3 yrs. for example may remaining balance ako 1.5 m. kase 10 yrs...lake noon....ang tgal ng bilangan noon..how much ba ang ineterest rate sna mababa so I can budget pra sa gamit nmn sa condo, but how about those people who work abroad will they be eligible since wla nmn sila sa pinas.

[bluedragon6411]

Homelite is the first home loan facility that offers no-downpayment and low-downpayment schemes with the lowest and longest period of fixed interest rates. Now buyers can stretch their home loan up to 25 years to pay!

Buyers can choose among Homelite’s 10 budget-friendly packages. These include Super Mega Light, which charges a low annual 5.5 percent interest, fixed for five years and without downpayment; Mega Light 10, which has a 8.5 percent interest rate a year, fixed for 10 years; Mega Light 15 which is available at 9.75 percent annual interest rate for 15 years; and Mega Stretch 25, which pegs the interest rate at 11 percent a year, fixed for 25 years and at 20 percent downpayment.

To know which Homelite package suits your finances, call us at (02) 810 3333.

You can motivate your employees to become more productive by helping them buy their dream house! Make Homelite a part of your company’s housing benefits. Contact us at (02) 810 3333 or email inquire@themanhattangardencity.com for details.

[Armie]

Originally Posted by titong41355

I heard na effective January 15 2009 ay may bagong sales scheme na ang manhattan
at wala na iyong no interest and instead ay with 15% annual interest on 5 years to pay with advance down payment pa na 20% to 50%. How true kaya ito? Armie, can you kindly confirm this?

As of now, wala pa namang ganyang announcement from MCPI, but i think that advance DP na 20%-50 % is not true...absolutely NO DP. Option ng client if he want na mgDownPayment.

Our scheme of payment is very flexible...for those "can afford buyer" d best option na ma-isasuggest q is d spot 20%DP, 50% installment on 5 yrs at zero int. and only 30% remaining balance payable upon turnover...much better talaga pgmaliit yun balance kc just imagine with interest na yun...we dont know yet how much ang takbuhan ng interest rate wether in bank or in house financing by 2012.

[Armie]

Originally Posted by diz

I don't like the Manhattan Garden City project.. it's ugly beyond words.

Opinions are opinions.

Well, Let's see by the time na nakatayo na po all the 18 towers. Imagine how exciting you are while waiting for it lalo na pg my unit na kayo but I think wala pa kayong unit d2 sa Manhattan. Sayang po talaga.

[Armie]

To our valued investors:

Your invesment is really going fast on its appraisal value.
Effective January 22, 2008 we'll having an initial 5% increase on unit price.

This increase means a gain on your investment.

And dont worry dn sa mga mg-iinvest pa lang...this is still the best time to invest...though we are experiencing a global financial crisis today...it doesnt mean we stop investing for tom. Take note during 2004 financial crisis Megaworld is the only res. condominium developer na hindi natinag...so be one of our proud partner.

[--SuperB0y--]

ummm, meron bang financial crisis ang 2004? hehe.
the last financial crisis we had was 1997 asian financial meltdown.
true, MW was a survivor of that crisis.
in fact, MW was brave enough to launch eastwood in the midst of the crisis which proved to be a smart move since subsequently it made Andrew Tan one of Philippines Billionaires.

[mhacman]

sana available pa ung SUPER MEGA LIGHT 5.5% for 5yrs, no down... this is the best for me kasi medyo maliit lang naman yung 50% balance ko upon turn-over...

compared with the SUPER LIGHT 8.5% for 10yrs, the difference on the total interest sobra laki while your monthly amort on the principal between the 2 is not really much...

1M / 60 = P16.666.67
1M * 5.5% = P55000 per annum
P55,000 * 5 = P275,000 (5yrs)
P1,275,000 / 60
P16,666.67 + (55,000 / 12) = P21,250.00

1M /120 = P8333.33
1M * 8.5% = P85000 per annum
P85,000 * 10 = P850,000 (10yrs)
P1,850,000 / 120
P8,333.33 + (85,000 / 12) = P15,416.67

For the difference of merely P5,800, mag-hihirap ka lang ng 5yrs...

SECURITY BANK, stay strong ha...?

[mhacman]

Originally Posted by Armie

To our valued investors:

Your invesment is really going fast on its appraisal value.
Effective January 22, 2008 we'll having an initial 5% increase on unit price.

This increase means a gain on your investment.

And dont worry dn sa mga mg-iinvest pa lang...this is still the best time to invest...though we are experiencing a global financial crisis today...it doesnt mean we stop investing for tom. Take note during 2004 financial crisis Megaworld is the only res. condominium developer na hindi natinag...so be one of our proud partner.

CONGRATS to all...!

MEGA, bilisan niyo na daw sa Parkview dami na nai-inip...

hi Armie, the increase is effective across all phases, right? so HEIGTHS included, it would mean the unit prices you presented us mag-aappreciate na din ng 5%?

[--SuperB0y--]

Originally Posted by mhacman

sana available pa ung SUPER MEGA LIGHT 5.5% for 5yrs, no down... this is the best for me kasi medyo maliit lang naman yung 50% balance ko upon turn-over...

compared with the SUPER LIGHT 8.5% for 10yrs, the difference on the total interest sobra laki while your monthly amort on the principal between the 2 is not really much...

1M / 60 = P16.666.67
1M * 5.5% = P55000 per annum
P55,000 * 5 = P275,000 (5yrs)
P1,275,000 / 60
P16,666.67 + (55,000 / 12) = P21,250.00

1M /120 = P8333.33
1M * 8.5% = P85000 per annum
P85,000 * 10 = P850,000 (10yrs)
P1,850,000 / 120
P8,333.33 + (85,000 / 12) = P15,416.67

For the difference of merely P5,800, mag-hihirap ka lang ng 5yrs...

SECURITY BANK, stay strong ha...?

ummm, meaning under loan ka na even u/c pa ung unit?

[mhacman]

nope... not yet. but by their estimated completion by 2012 depending on global economy, we don't know what rate can be offered to us by then... that's why I am hoping that all the payment options they're advertising now is still available....

I re-quote:

Originally Posted by mhacman

sana available pa on 2012 ung SUPER MEGA LIGHT 5.5% for 5yrs, no down...

[--SuperB0y--]

oppps, sorry my bad. i was just scanning. it's just that i remember when MGC was initially offered may dp sya and also you can avail no dp pero naka-loan agad but with lowered interest rate. my friend got this deal, then a year later no dp no interest were offered. inis na inis sya. hehe.

[Iyo]

ohh no..well sana nga nde nman tumaas ang interest... im just wondering when the time comes na turnover na and you still have balance like me my balnce pa ako ng 2.5 million im paying 60% and the 40% to fllow...okay.. so i can apply for loan dito what if working abroad ka my other category ba ang rate pag abroad ka work.
now if turnover na what other obligation your going to pay if your property value is 6million how many interest like the capital gain , realty tax aside from this ano pa ba ang bbyaran i heard transfer fees....I hope somebody can make a rough breakdown of my fees..pra lng ba aware ako ...thinking of it dami pplang byarin no akala ko yung condo itself by the way how about the amilyar magkanu ba yun? and also the monthly dues so condo..hope someone can give me idea....thnks....

[--SuperB0y--]

for closing costs, this is very useful...

http://www.realestatemovers.com/Closing%20Costs.htm

credit goes to ms cynthia.

roughly, around 5% of TCP ang closing cost. more or less.

[denis_8th]

Originally Posted by mhacman

sana available pa ung SUPER MEGA LIGHT 5.5% for 5yrs, no down... this is the best for me kasi medyo maliit lang naman yung 50% balance ko upon turn-over...

compared with the SUPER LIGHT 8.5% for 10yrs, the difference on the total interest sobra laki while your monthly amort on the principal between the 2 is not really much...

1M / 60 = P16.666.67
1M * 5.5% = P55000 per annum
P55,000 * 5 = P275,000 (5yrs)
P1,275,000 / 60
P16,666.67 + (55,000 / 12) = P21,250.00

1M /120 = P8333.33
1M * 8.5% = P85000 per annum
P85,000 * 10 = P850,000 (10yrs)
P1,850,000 / 120
P8,333.33 + (85,000 / 12) = P15,416.67

For the difference of merely P5,800, mag-hihirap ka lang ng 5yrs...

SECURITY BANK, stay strong ha...?

MHACMAN, the computation is not really as simple as that. The annuity factor for (10 years or 120 months at 8.5% per annum) is 0.0123985689 while the annuity factor for (5 years or 60 months at 5.5% per annum) is 0.0191011622. There is a formula for the factors.

To get the monthly ammortization for a balance of 1,000,000, simply multiply the factor with the balance.

5 years or 60 months at 5.5% per annum:
Monthly Ammortization or MA = 1,000,000 * 0.0191011622 = PhP 19,101.16 / month
Total payments after 5 years = MA * 60 = PhP 1,146,069.60
Total interest payments is PhP 146,069.60

10 years or 120 months at 8.5% per annum:
Monthly Ammortization or MA = 1,000,000 * 0.0123985689 = PhP 12,398.57 / month
Total payments after 10 years = MA * 120 = PhP 1,487,828.40
Total interest payments is a skyscraping PhP 487,828.40
*** O-ooh... Yung pambili mo ng Kotse, napunta sa Interest!!!

[titong41355]

Armie thanks sa time you spent sa pag bigay liwanag sa mga doubts namin. Share ko pa din na ang Parkview will start full force work kapag natapos na daw ang all floors ng Parkway Tower 3. Sabagay almost 22 floors na din ang nareach na ng Parkway T3 so kunting months na lang ay makikita na din ang Parkview. Mabilis naman sila gumawa, at magtagal lang siguro sa finishing touch. For sure Armie knows best. Can you update please.

[diz]

Originally Posted by Armie

Opinions are opinions.

Well, Let's see by the time na nakatayo na po all the 18 towers. Imagine how exciting you are while waiting for it lalo na pg my unit na kayo but I think wala pa kayong unit d2 sa Manhattan. Sayang po talaga.

Oo, sayang po talaga dahil meron na kaming bahay sa Amerika (di ko man pwedeng maipagmalaki yun dahil sa situasyon ngayon dito ).

and if you really do value your customers, you should bring your project into the 21st century. I can become one of your customers, and as a possible future customer, the current state of this project doesn't appeal to me whatsover due to its poor design.

[ryanr]

Originally Posted by diz

I don't like the Manhattan Garden City project.. it's ugly beyond words.

You may think its ugly, but its a clever project because it is transit oriented. Works well for the city and its prospective residents.

[diz]

Originally Posted by ryanr

You may think its ugly, but its a clever project because it is transit oriented. Works well for the city and its prospective residents.

Yeah, I know.

That's the only thing that I like about it. I've seen the youtube videos, read their powerpoint, etc. But I still can't help but dislike how it looks. It could look more modern and less colorful. Manila deserves better..

[Iyo]

guys...
evryone saying goodthings about manhattan which is great..I just surf and read a thread about taxes, by the way thanks SuperBoy...sa closing cost you have shared. so in regrds with manhatthan as a buyer ano ang closing cost as they say..ano dpat bayaran ng buyer at ng seller..about this property tax sabe nila 1.5% TCP like mine 6M...capital gain tax sa seller ba yan..sna one of you professional broker can enlighten us about this specially me isip ko nga kung wise investment ba ang condo..as I said my intention is to prepare for retiremnt place...and start leaving ther ano pa ba mga standar payments obligation mo as a unit owner...for MGC.....
everyone saying tumaas na ang property value that means tatas na ang tax na bbyaran natin ganoon ba yun so kung ang property value noong nag strt ka is 6M and at the turnover tumaas because sa daming may gusto mag appreciate ang property value then afectado ang taas ng dues mo specially for taxes....paki claro nmn dyan...