When does Refinancing make sense?

A lot of people aren’t aware of refinancing and the huge opportunity they are missing. One reason, maybe because lenders are not explaining its benefit to the borrowers. Oftentimes, refinancing is not being discussed before or during the contract signing of a loan. It might be because when a borrower refinances the loan, it means a decrease in the payment and less collection on the part of the lender. While it is true that only a few lenders are truly concerned of the welfare of their borrowers, there are still a lot of borrowers who are not going through it because of burnout – hassle and a lot of paper works required when refinancing.

But because it is pandemic, there’s an ongoing economic recession in most parts of the world, and a lot of people had lost their jobs or shutdown their businesses, anything that would mean “savings” must be grabbed. 

This pandemic has caused the interest rates to fall, as low as 2.5%. Data from S&P Global shows that the average interest rate for the 30-year fixed mortgage is now at 2.98%. Interest rates today are the lowest since 2000, and for those who availed a 30-year loan contract for home mortgages, this could be the perfect timing.

What is Refinance or refinancing?

Refi, short term for refinancing means replacing an existing debt obligation with another but under different terms. Usually, it is a loan or mortgage where the terms of an existing credit agreement is revised and replaced, which is favorable to a borrower’s interest rate, payment schedule, and/or other terms outlined in the contract.

Refinance becomes in demand nowadays because there is a substantial change in the interest-rate giving the borrower a potential savings on debt payments from a new agreement. Since our current pandemic situation and global downturn caused the interest rates to fall at an all-time low, now is the best time to refinance mortgage loans, car loans, student loans, and the likes. If you are new into refinancing, try this free online mortgage refinance calculator to see how much you will save.

The calculator comes in handy anytime and anywhere you go. It’s so easy to use and to understand results. You simply have to fill up the three parts, first is the information of your Old Mortgage :

Home price – the actual price of the property

Down payment – the initial amount you paid, the portion you paid in the early stae of a purchase

Original loan amount –no need to fill in, calculated automatically

Original APR – the interest rate applied to the loan, higher than today’s interest rate

Original loan term – length of loan in years

Time left on original – time left to pay the loan in months

Second portion, you need to inquire with your lender - the Mortgage Refinance Terms:

New loan amount

New loan term in years

New interest rate (APR %)

Last which you also need to work and discuss together with your lender - the Refinancing Closing Costs:

Discount Points

Origination Points

Other Closing Costs

The results will show the comparison of your old loan versus your new loan where you will clearly see that the monthly payments had decreased significantly. It will also show how much your total savings would be. It is also a good thing that the closing cost is shown in the result, so you can prepare to save for it before you apply for refinancing.

The big savings shown in calculator clearly proves that refinancing really makes sense at this point in time. By refinancing, you can also acquire an influx of cash for a serious financial need.

World Vision invites you to run for clean water in Global 6K Run

Every child deserves clean water to drink and for handwashing to help keep them healthy. For some people in rural areas living in vulnerable conditions, it takes a long walk to be able to get them.

A study released by World Vision revealed that six kilometers (3.7 miles) is the average distance people in developing areas would have to walk for water. This journey for clean water takes hours every single day.

This is why World Vision is launching the Global 6K Run, a virtual running event that aims to promote fitness and health during the pandemic while raising funds for the needs of World Vision’s most vulnerable children and communities.

Through this virtual run, World Vision aims to make clean water more accessible by raising funds to build multiple water facilities in Laurel, Batangas and other communities in need. These facilities will not only provide drinking water but also water for hygiene and sanitation purposes, especially since one effective way to prevent the spread of COVID-19 is through proper sanitation and hygiene.

Joining World Vision’s mission for clean water in the Global 6K Run is its Celebrity Ambassador Enzo Pineda, who has been a staunch supporter in the child-focused organization’s multiple initiatives for children, including health and wellness.

“I am truly honored to become a part of this initiative by World Vision. While many of us miss gathering for runs and marathons pre-pandemic, the Global 6K Run is a wonderful opportunity to be fit and healthy despite the many limitations as well as participate in a cause that’s extremely timely today,” Enzo Pineda shared.

Anyone can register to participate in the global event and contribute to World Vision’s goal. Since it is a virtual run, it doesn’t matter where one is because they can walk, jog or run anywhere. And with every registration, clean water is provided to one person through World Vision’s water projects.

Interested participants can register for the Global 6K Run from July 1 to August 15, 2021. There are several mileage options to choose from, including 6K, 12K, 24K, or 60K, which can be tracked by a fitness tracker app. Individuals who will submit proof of completion of the run will get a Global 6K event shirt!

“Clean water is crucial for our physical health and safety, especially in this pandemic where the importance of hygiene is emphasized. World Vision’s Global 6K Run is a global movement to make clean water more accessible to everyone, regardless of where you are,” said Mr. Rommel Fuerte, National Director of World Vision Development Foundation, Inc.

“We are inviting everyone to be part of this change through this run. To become an inspiration for many, while being fit and healthy in the process,” Mr. Fuerte added.

To register for the World Vision Global 6K Run, please visit https://wvph.co/g6kph. 

For more updates on the event, like and follow World Vision on Facebook, www.facebook.com/worldvisionrun.

To know more about World Vision and its other initiatives, you may visit www.worldvision.org.ph or follow World Vision’s official social media pages /worldvisionph on Facebook, @worldvisionphl on Instagram, and @worldvisionph on Twitter.

About World Vision

World Vision is a Christian relief, development, and advocacy organization dedicated to working with children, their families, and communities to overcome poverty and injustice. Inspired by its Christian faith and values, it is dedicated to working with the world’s most vulnerable people. It serves and collaborates with all people regardless of religion, race, ethnicity, or gender.

FDCP’s Sine Kabataan Awards P100K Film Grants to 10 Finalists

Ten (10) young filmmakers have been selected as finalists in the 4th edition of the Sine Kabataan Short Film Competition and will each receive a PHP 100,000 grant as fund to use in the production of their respective short films. 

Organized by the Film Development Council of the Philippines (FDCP) and as an accompanying youth film competition with its banner Pista ng Pelikulang Pilipino (PPP), Sine Kabataan gives a platform to all aspiring young filmmakers aged 18 to 30 and provides an opportunity to expose their fresh talents. This serves to encourage the youth to develop their creativity and originality in storytelling, touching on important issues of today as perceived by the youth. 

Louie Sangalang survives Episode 5 despite passive team role in The Apprentice: ONE Championship Edition

LOUIE Sangalang's voice was hardly heard in Episode 5 of The Apprentice: ONE Championship Edition.

But his supposed passiveness for Team Valor in the business challenge shouldn't be looked at as a shortcoming on his part.

Brandon Vera, Sage Northcutt join The Apprentice: ONE Championship Edition Candidates in Episode 5

ONE Championship's longest reigning titlist made his presence felt in episode 5 of The Apprentice: ONE Championship Edition as reigning ONE Heavyweight World Champion Brandon "The Truth" Vera paid the candidates a visit as a guest athlete.

The Filipino-American champion is definitely a winner in every sense of the word, as evidenced by him being the division's first and only champion since the organization introduced the belt in December 2015.

57th Baeksang Arts Awards: Full List of Nominees

The 57th Baeksang Arts Awards (also known as the Paeksang Arts Awards) has just announced its nominees for the Television and Film categories on April 12.  The award is instituted by Ilgan Sports and JTBC Plus, affiliates of the JoongAng Ilbo.

Chang Key-young, the founder of Hankook Ilbo newspaper, introduced the award in 1965. It was presented using his pen name, 'Baeksang.' It is considered to be one of the prestigious awards in Korea.

Lara Alvarez to ONE CEO Chatri Sityodtong: 'I'll meet you again’

LARA Pearl Alvarez' journey in The Apprentice: ONE Championship Edition has come to an end, with the 24-year-old accountant being the third candidate to be given the boot.


"I do see that you are beautiful inside with the real warrior spirit," said ONE Championship chairman and CEO Chatri Sityodtong. "But the business world is a dog-eat-dog world where only the strong survive."


5 tips for taking care of Air Plants

Courtesy of: Two Peas in a Condo

Even before the pandemic started, many found delight in taking care of different plants. From flowering greens to succulents, vines, ferns, and trees, plants provide joy and calmness to their respective plantito or plantita.

Cinema Rehiyon 2021 (March 26-31, 2021)

Cinema, aims to promote films that tell stories rooted in the culture of the regions. Now on its 13th year, the festival has established its presence in the local and international scene. Various award-giving bodies and national film competitions, such as Cinemalaya, MMFF, and Cinema One Originals, have already opened their doors to regional voices. One hundred years after its conception, the landscape of Philippine cinema has evolved into a more inclusive platform for all stories around the country to be told. For years, films from the regions have provided a refreshing presence and a new blood to Philippine Cinema.

Arch. Kaydee Mariw Velasco is Young CEO of the Year, Asia Leaders Award 2020

The biggest and most talk of the town recognition event from the previous year even during pandemic is Asia Leaders Awards that was held at Inagiku, Makati Shangrila Hotel and attended by leaders who are making a difference even in this crisis we all are experiencing with an objective to acknowledge these leaders ans to be emulated that in spite of this Pandemic are still and able to reach out those in need even outside their community.