Electricity is one thing that is not cheap in the Philippines. Meralco customers in Manila are reporting huge increases in their latest April 2010 electric bills. Like increases to P13.25 ($0.294) per kWh.
PMI is not a cost you have to pay for throughout the life of your loan. You can eventually cancel private mortgage insurance, once your principal balance drops to 80% or less of your home's original purchase price or the amount you financed in a refinance loan. This reduces the size of the loan that you can use for the home purchase or the size of the refi loan that you qualify for. 2  It is not tax deductible, unlike the interest that you pay on the money you borrow to buy a home or to finance a refinance loan on a traditional mortgage.
Unfortunately, a no cost mortgage isnât really cheaper over the long term. Instead of paying fees out-of-pocket, closing costs, or other costs at the time of the loan, the interest rate is .25 to .5 percent higher to cover the lenderâs costs and any third-party fees the lenders promises you arenât paying. recommend you speak with US Bank and ask them if they would charge closing costs to refinance your home. You must keep in mind that it will cost a lender to refinance a mortgage, even though they may say â no closing costs .â. I also have two valuable resources as you evaluate refinancing with US Bank.