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.
On a refinance, the lender and borrower may agree to a per diem interest. credit of up to 30 calendar days (up to the day prior to the first payment date) and have the mortgage payment begin the first day of the succeeding month. A per diem interest credit may not result in cash back to the borrower.