Rent to own condominium

I'm very interested in your rent to own condo but how will i do it? Right now I'm just waiting for my visa and eventually flight schedule. As much as possible I want to start before I leave.

I cannot understand well regarding the PAG-IBIG payment scheme. Is the Ph299,000 down payment plus the remaining amount of the contract price will be paid by PAG-IBIG and we will just pay them monthly? Or how does it work? Thanks for info.


Dom's Reply: Pag-Ibig does not give loans to cover the full amount of the condo unit or a property. Usually you shoulder the down payment and the Pag-IBIG loan covers the remaining amount. The seller will get the loan proceeds from Pag-IBIG and you pay Pag-IBIG monthly amortization.

The Pag-IBIG loan process takes 2-3 months. You must go through the process now if you want to get a loan before you leave.

P.S. The units mentioned here are no longer available. I'll post similar condo units for sale when available.

Thanks for asking.