Owning a condo no longer a distant dream

Time was when owning a condominium was just a dream. Sure, the cost of acquiring one would be relatively higher than, say, a bungalow or duplex farther from Manila.

But if you are time-conscious, meaning you don’t want to spend four to five hours a day in travel from your house to your workplace and vice versa, you would like to reside nearer a CBD (commercial business district). This way, you save not only on time and transportation costs but, most of all, you can channel your time and energy into something more productive. Think of your time and energy as manhour investment that, when spent positively, could bring you significant gains, whether in your job, if you are employed or especially in your own business, if you are an entrepreneur. Plus, consider the prestige of living in your own condo unit, somewhat like the lifestyle of the rich and famous!

If owning a condominium was just a distant dream for you, now it can become a reality, thanks to real estate entrepreneurs like Delfin Lee, president of Globe Asiatique Realty Holdings Corporation, the developer of GA Towers and the government’s shelter financing arm, Pag-IBIG Fund.

GA Towers, soon to rise along EDSA, Mandaluyong City, very near the Boni MRT Station, is a 30- storey, 600-residential unit condominium project, available especially to middle-income earners through a financing arrangement with Pag-IBIG Fund, making equity payment and balance amortization affordable.

Whether a prospective owner opts for a one, two or three-bedroom unit, he can pay the no-down payment 20-percent equity in 36 monthly installments at zero interest, with the 80-percent balance through a guaranteed loan with Pag-IBIG, for a maximum term of 20 years.

Everyone is qualified to apply for a Pag-IBIG loan, whether member or non-member and from 21 to 60 years of age. Existing members should have paid 24 monthly contributions plus an upgrade of the 25th month contribution. For a non-member to qualify, on the other hand, all he has to do is pay an initial premium contribution of P4,800, equivalent to the 24 months contribution requirement for a loan.

GA Towers developer Globe Asiatique’s partnership with Pag-IBIG definitely boosts everyone’s chances to own and live in a condominium. With guaranteed financing by Pag-IBIG of the 80-percent balance after equity, a prospective unit owner does not have to go through the rigid process of bank financing not to mention that there is no certainty of the loanable amount, since his loan is already pre-approved. Most of all, because of the government-guaranteed Pag-IBIG loan, the interest rate is definitely lower, resulting in a much-lower monthly amortization spread up to a maximum of 20 years.

Aside from the affordable payment scheme, GA Towers offers residents the comforts of a home just like other condominium properties. For instance, each unit has two toilet and baths, kitchen, dining and living areas, plus a loft.

The second floor has likewise been designed for amenities like a swimming pool, gym and spa, a food court and a reception lobby. There is also ample space for parking in the basement.

Depending on one’s requirements or kind of lifestyle, a prospective owner can choose from the available two to three bedroom units, with average floor area of 38 square meters, including a loft. The smallest unit, a little over 34 square meters, comes in 36 monthly equity payments of P8,333.33 and a monthly amortization to Pag-IBIG of P15,203.63, at a 20-year term.

Unlike other condo projects that require a reservation fee, a prospective owner is guaranteed a unit upon paying the first monthly equity payments, with succeeding monthly payments covered with 35 post-dated checks, first due commencing a month after. The monthly loan amortization will only start upon completion of the project, targeted within three years.

Considering very brisk sales in the market and with only a few units available for negotiation, those interested should immediately contact Jona Vergara at 0917-4140845 for assistance.