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.
However beware, the APR is more than the monthly rate times 12. The APR is worked out on the basis that you refinance each month for 12 months. When you take out a new loan to pay off the first one-plus any interest-the next month's interest payment is likely to be significantly MORE.owever beware, the APR is more than the monthly rate times 12. The APR is worked out on the basis that you refinance each month for 12 months. When you take out a new loan to pay off the first one-plus any interest-the next month's interest payment is likely to be significantly MORE.