Month: September 2018

Factors To Consider Before Getting A Mortgage In Turkey

The Turkish residential mortgage market has grown significantly over the last few years mainly driven by falling interest rates. The New Mortgage law that passed in March 2007 further strengthened the legal background for both primary and secondary market triggering a sudden increase in the mortgage product variety. While there were only a few mortgage products before the new mortgage law, currently there are more than 20 different mortgage products for consumers.
However, the fast growth in the market has not been absorbed by the general public. Surveys show that more than 50% of the people don’t have sufficient understanding of the new mortgage system. Moreover, most people have the perception that the new mortgage system is a miraculous system that will let them buy houses without any savings and with very low monthly payments. This article addresses some of the misconceptions and draws attention to the reality by focusing on the real costs of mortgages.

Length of Loan and Interest Rate Relation: While some banks have started to offer mortgage loans up to 30 years in Turkey since the new mortgage loan passed in March 2007, currently the mortgage rates in Turkey are too high to get a loan with loan length of longer than 10 years. The consumers would be better off with loans less than 10 years.
To demonstrate the irrationality of getting a loan with a length of more than 10 years a simple comparison of monthly payments in a few cases will be sufficient. When monthly interest rate is around 1.30% for most banks, as it is in November 2007, monthly payment of only 2-year loan would be 4,877 New Turkish Lira (YTL). Extending the length of the loan to 10 years, would decrease the monthly payments to 1,650 Turkish Lira, a 82% reduction in the monthly payment. While 82% reduction in monthly payments is significant by extending the length of the loan by 8 years, a further extension in the length of the loan does not decrease the monthly payment significantly. For example, if the length of the loan is assumed to be 20 years, the monthly payment will decrease to 1,361 YTL, an additional 18% reduction from the monthly payment in one-year loan. So increasing the length of the loan an additional 10 years decreases the monthly payment by only 18% more. Even more interestingly, for 30-year loan, the monthly payment decreases to 1,313 YTL, an additional 4% reduction in the monthly payment for another extension of 10 years in the loan.
Let’s note that if the interest rates were lower, the optimum point for length of loan would be more than 10 years. For example, if the monthly interest rate were 0.5%, the reduction in the monthly payments would be 87%, 35% and 16% for 10 year, 20 year and 30 year loans respectively (as opposed to 82%, 18% and 4% with 1.3% monthly interest rate). Similar length of loan comparisons can be computed with a mortgage payment vs. length of loan comparison calculator.

Cost of the loan: Interest rates, commissions and fees
The most important thing consumers should do is calculating the real cost of the loan. The cost of loan includes the interest rate, expertise costs, insurance costs and most importantly, fees and commissions.
While interest rates of the banks are usually available on their web pages, most banks do not choose to publicize the commissions and fees upfront. There are cases when consumers apply for mortgage and goes through all the paperwork without any clue about the fees up until the last steps. Since it is usually known that fees are overlooked by the consumers, some banks offer low interest loans with significantly higher fees, which turn out costlier than the high-interest loans. Such incidents can be avoided if the consumers search internet for the mortgage costs. Kredihavuzu.com provides comprehensive information about the mortgage costs for every bank. Effective interest rates should be calculated to compare the real costs of the loan across different mortgage products with fees included in the costs.

Early Closure Fees:
Early closure fees up to 2% of the remaining loan apply to the fixed interest mortgages. Adjustable rate mortgages can be closed without any closure fees. If you have a fixed interest mortgage and interest rates fall, it may be harder to refinance. You may use the advanced refinance calculator to find the best refinance options for you.

Expertise Expenses :
Before applying for a mortgage, consumers should make sure that the real estate that they plan to buy is eligible for mortgages. Otherwise, consumers may need to pay the expertise expenses (between 250 to 600 YTL) without being able to get the loan.

Berk Akman is working for KrediHavuzu.com, Turkey’s leading online mortgage services company dedicated in providing up-to-date interest rate and fee information of the lenders, various mortgage tools and products for optimal mortgage design.

Buying A Makati Condominium

Nowadays, people are choosing to rent or buy Makati condominiums versus buying or renting a house & lot in nearby cities.

This can be attributed to the fact that most people prefer to live in residential spaces requiring less maintenance, and they favor the proximity of Makati to key establishments in business such as work, popular lifestyle spots, schools and medical facilities. Add to this the ease of transportations routes and quick accessibility to most cities in the Metro.

Pricing is a concern with everyone whos ever bought a property in Makati. However a lot of developers have managed to meet the expectations of everyone from the different sectors of society from the young couple starting a family, a working student whose only got enough to pay for his or her rental/amortization, or an ofw who worked hard for years on end and is about to make his very first real estate investment. Theres a variety of Makati condominiums on the market catering to the purchasing power of the Filipino people. Not only that, banks have made it easier for the simple Juan to make a loan without selling his soul to the devil to make his down payment & monthly amortization.

Material wise, one has to be discriminating with the materials, design and finish as said on the brochure or contract given to you by the developer. Unfortunately, there are still some Makati condominiums who promise this and produce that whatever happened to following through with your claims. That is the reason when you are buying a Makati condominium, you must settle with a reliable developer who wont run out on you when the first signs of problem in your property strikes.

Now whether you make buy your Makati condominium for investment or residential purposes is up to you. Mind you, rental per square meter in Makati is pretty high as compared to other cities in the Metro. If you aim to sell it after a few years, you might also be surprised at the market value of your property as Makati land values have risen a thousand-fold over the past 50 years.

Property In Allahabad Is Growing Rapidly

Allahabad, in Uttar Pradesh is an ancient city of India and it has been a central part of Northern India. This city has greatly involved in political and spiritual terms. The well-built social and physical infrastructure in Allahabad has made this city the core of strong and powerful players in every sector whether its educational, commercial or administration. Owing to this reason the demand of Property in Allahabad is increasing rapidly.

The best advantage of investing in Property in Allahabad is that the city is well connected to vital cities of India like like Delhi, Lucknow, Patna, Kolkatta and the rest of the India through rail, road and airways. Well the Allahabad is a highly determined Golden Quadrilateral linking Delhi, Mumbai, Chennai and Kolkatta. Due to that reasons investment in Allahabad is quite fruitful and profitable for both sectors such as residential property in Allahabad and commercial property in Allahabad. As per the few spectators of Allahabad property market have assumed that the Property in Allahabad shall see more action in the market.

Allahabad is situated at the confluence of three holy rivers such as the Ganga, Yamuna and the Saraswati. Allahabad is also known for the famous Kumbha Mela. During this Mela it gathers a huge potential tourist market and therefore the commercial property in Allahabad give huge investment returns. This is the very valuable time for the investors and for any deal for purchase or sale of a commercial property in Allahabad can be easily done with the right guidance of the property dealers in Allahabad.

As far as the residential properties is concern, Allahabad, including other cities of Uttar Pradesh is becoming the hottest destination and the residential housing complexes are being constructed rapidly. In the few upcoming years the city will soon touch the new heights in real estate or property market. The many property dealers in Allahabad are managing this task with full of enthusiasm. They fully take care of the individual requirements and help them to purchase the Property in Allahabad at a suitable price. To get the list of the property dealers in Allahabad visit to the online property sites.

In terms of price the commercial as well residential properties in Allahabad are touching to the sky as the real estate market in this city is growing rapidly. The some upcoming projects in Allahabad b are Fame Cinemas, Inox Leisure Ltd and etc.

Book A Flat At Amrapali Sapphire 3 Noida New Property At Sector 107 Noida

Amrapali Sapphire 3 is the latest residential property for sale in Noida, which is being launched by one of the leading providers of real estate property in Noida and other parts of Delhi NCR- The Amrapali Group.

Although the details of the Amrapali Sapphire 3 have not been officially announced as of yet, it is said that Amrapali Sapphire 3 would be offering a wide range of residential options in the form of 2, 3 and 4 BHK apartments for sale in Gurgaon.

The pricing for these extremely luxurious flats for sale has not been provided yet, but it is supposedly going to sell at an approximate basic sale price of Rs. 3000 per sq. ft. That said, those interested to book a flat at Amrapali Sapphire 3 Noida should expect to spend at least around Rs. 35 lakhs to own a home at Amrapali Sapphire 3. We at Unicon Property bring to you an excellent opportunity to own an apartment at Sapphire 3, that too at zero-brokerage.

Amrapali Sapphire 3 is strategically located at Sector 107 in Noida, a perfect location for those individuals who are operational in and around Noida and adjoining areas such as Ghaziabad and Greater Noida, and are looking forward to book a flat in a premium residential complex that offers complete peacefulness while at the same time being within close reach from all parts of Delhi NCR.
Being situated at a premium location, Amrapali Sapphire 3 shares neighborhood with pristine residential real estate properties such as Lotus Boulevard, Lotus 300 and Lotus Panache, all of which are premium projects launched by the 3C Company.

Amrapali Sapphire 3 is a highly luxurious yet very affordable residential property for sale in Noida, which gives all those who are looking to invest in property in Noida a fabulous chance to buy an apartment in one of the most desirable properties in Noida. Backed by a builder with dependability as that of Amrapali, Sapphire 3 is sure to be a highly successful residential property for sale in Noida.

Unicon Property gives you a detailed insight into the scenario of Real estate property in Noida. For more information on Amrapali Sapphire 3, please visit our website www.uniconproperty.com

How Rentec Direct Created The Property Management Software

RenTec Direct is headquartered at Grants Pass, Oregon, USA and was established by a group of owners, investors, and managers that became tired of the paper shuffle and lack of suitable software required in managing properties. It took them a lot of research among existing property management software companies. They tried various property management software but none of them has been proven reliable to meet their expectations.

This drove them to create their own version of property management software to assist owners in property management. They hired the best programmers to develop a tailor fit application which precisely met the needs of property owners. Thus was born the RenTec Direct property management software, the rental software that has overcome and dominated all property management software manufacturer in the global market.

Going back to the idea, RenTecDirect was seriously committed to provide property management software that will assist owners in keeping track of the recurring transactions, tenants and vast rental properties. They have come up with 3 rental software that consist of the Rentec for Associations or the association management software, Rentec Pro or the landlord software and the Rentec PM Property Management Software.

These property management software have special features that contribute to making the property management software powerful and functional. These include:

* Online file management. The property management software allows online file storage related to tenants or properties safely and securely.

* Manage other recurring transactions. This comprises utility billing, landscaping or supplemental fees that owners may charge to their tenants and lets the property management software automatically generate charges whether they are at a computer or not.

* Enter and track work orders. Permits tenants to place their own repair requests via the tenant portal.

* Tenant Portal. Allows tenants to login and review their account, make payments via ACH, or submit work orders.

* Easily track bank deposits.

* Shows management reports on property performance.

* Presents stats and graphs of current and historical property performance.

Indeed the creation of the property management software has been a breakthrough in the property management industry.

For inquiries, call (541)-690-8667 or visit

What You Need To Know About Singapore Condominium

Singapore condominium commonly known as condo is a multiple projects where individual units get sold. Buying a condominium unit means owning everything between the bars of that particular unit. However, you share the ownership of other common properties such as club house, elevators, swimming pool, tennis courts, gymnasium and other joint facilities with other owners of condominium.

In the recent years, many people are adopting the condominium way of owning a house. However, Singapore condominiums differ according to the market segments. Different people have different taste and also the financial abilities of buyers; fact well known by the investors.
There are the ordinary condominiums mainly situated in the suburban places but have good communal services. Such condominiums normally have average pricing to enable many buyers who wish to change from public to private housing. Under this group, there is another set of condos known as Executive Condominiums (EC). This is a combination of private and public housing which was created by Singapore government. These condominiums have a lower price compared to private ones in order to enable many people and especially the young professionals aspiring to own a house but find the price too high. However, there are some rules governing the Executive condominiums which include a minimum of five year occupancy duration by the occupant before being permitted to resell.
The other one is middle class Singapore condominiums. Basically, these are situated close to city fringes and other areas such as Tanjong Thu and Newton Novena. They are very popular because they are located close to middle of the city where entertainment and business hubs are. In addition, they have various types of themes which attract successful yuppies and professionals.

Finally, there comes the luxury category of condominiums which cater for people with good financial status. These types of condominiums are situated in the major districts such as Sentosa, Orchard Road and Keppel Bay. They are for people who do not only desire to own a home, but those with exclusive lifestyle which fits their status.

Investors of these luxury condos put all efforts to ensure that homeowner enjoys the best quality in regard to fittings, finishing and fixtures. TP180 is just an example you will need not ignore. Amenities and facilities are first class with modern architectural themes and designs which bring out the condos uniqueness.

Having a good understanding of various classes of Singapore condominiums will assist you in narrowing down your hunt. You dont have to waste much time looking for projects which doesnt fit in your budget. In case you are searching for a condominium to buy, it is very easy to know which group it belongs just be its location and also the investors way of advertising.

What Is A Reverse Mortgage Proceed

What is a reverse mortgage and what benefits it can give to the typical American senior, who fights with his or her small monthly incomes and with the increasing medical bills?
How does a reverse mortgage work and what are the qualifications?

1. The Taxes And Medicare.

The money received from the reverse loan is not taxable and does not generally influence on the Medicare or other social security benefits. However, if a senior receives payments from the reverse program and does not use the whole sum during the same month, the amount of the liquid assets may raise too high and there is a danger, that she or he will lose the eligibility to the public benefits.

2. What Is A Reverse Mortgage Proceed?

The guarantee for the reverse loan is the equity of the home, where the lender or lenders live permanently. The loan sum is calculated using 3 factors, which are the appraised value of the home, the age of the youngest borrower and the interest rate level. The older the youngest borrower is, the higher the appraised value of the home and the lower the interest rates, the more he, she or they can get. The legal maximum is $ 625.000.

3. How The Payments Come?

In this loan type the borrower will decide, how the lender will pay to him. The need of the money will usually dictate the schedule. The alternatives are the monthly payments, the lump sum, the credit line or the combination of all or some of these.

4. The Duties Of The Owners.

The borrower, or borrowers, will remain the owners with all the duties. The owner has to pay the property taxes, the insurances and to keep the property in a good shape. If either taxes or insurances elapse, this can lead to a default on the reverse mortgage.

5. What Happens At Closing?

The loan will be closed, when the last borrower will move away, sell the home or die. This is the time, when the home will be sold and a part of the selling price will be used to pay back the loan capital, the interests and all the costs. The rest goes to the owner or to the heirs.

If it happens, that the selling price does not cover the whole debt, then the obligatory mortgage insurance is used. It is important to notice, that the borrower will never use his other assets to pay the reverse loan, nor can he owe more than the value of the home.

The costs of this loan type are higher than those of the usual mortgage. However, this is a special senior loan and offers in some cases the only opportunity for a senior to get some extra incomes. Compared to the benefits it is not costly, but everybody have to judge this by himself.