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.
How to Avoid Paying Private Mortgage Insurance. The best way to avoid paying PMI is to not have it on the loan to begin with! If you are purchasing a new home, but wonât have a significant down payment, ask your loan officer for suggestions on avoiding PMI.ow to Avoid Paying Private Mortgage Insurance. The best way to avoid paying PMI is to not have it on the loan to begin with! If you are purchasing a new home, but wonât have a significant down payment, ask your loan officer for suggestions on avoiding PMI.