Are you ready to buy a new home?

A One-bedroom model unit designed by Songsong & Periquet for Belton Place.

You’ve found the perfect place to move into, but you need a little help in the financing department. So how can you, the first-time homebuyer, secure the deal to your dream home?  

Know your limit
“First of all, be sure to pick a property that you can realistically afford, and that will not eat up all of your monthly income. Most buyers commit the mistake of buying property without factoring in savings and retirement accounts in their calculations,” advised Eton Properties Philippines, Inc. SAVP for Business Development Janette Cordero.  

Free yourself from debts
“Secondly, a buyer must pay off credit card and other high—interest consumer debts.  These debts limit the investor’s ability to save, thus control his borrowing power from banks and lenders,” Cordero explained.    

To calculate how much downpayment you can give, the following factors must be considered: car payment, utility bills, subscriptions, insurance, and savings or retirement accounts.   As a rule of thumb, annual mortgage payment, taxes and homeowner's insurance should only take up 28 percent of your gross income.

Go for the most appropriate payment scheme
When costs have been determined, the next step is to choose mortgage rates and payment schedules – fixed program, adjustable rate mortgage, or balloon payment. Then choose the payment terms you will be comfortable with.

A homebuyer has several options in choosing where to apply for a loan that will best suit their financial capacity: the bank or a mortgage broker.  Make sure to ask for a good-faith estimate before signing the loan, so that all expenses are clearly broken down for your review.      

For those who know they are ready for a new home, Belton Place offers a great deal with its easy payment terms – studio units come at an affordable P10,000+ per month, with flexible financing schemes to meet its buyers’ financial capabilities.

Belton Place is a three-tower residential condominium strategically located a few steps from Makati’s two main thoroughfares: Ayala and Gil Puyat avenues.   It will be part of the one-hectare property called Belton Square – a township project master-planned to feature a BPO office facility, a businessman’s hotel and other cosmopolitan amenities. It will likewise offer a world of comfort and convenience with its own retail arcade, recreational and leisure facilities, and a well-equipped Wellness Center, adding to the property’s value.