Oakwood House Model
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Oakwood House Model
(House and Lot For Sale)
House Sample Computation
BANK FINANCING
(This inner house will be ready for occupancy in 18-21 months - Oakwood House Model)
Example: Block: 2, Phase 3
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| Total Contract Price |
1,755,000.00 |
| Less: Loanable to Bank |
1,430,000.00 |
| Required Equity |
325,000.00 |
| Less: Reservation |
20,000.00 |
| Net Equity payable in 15 months |
208,000.00 |
| Monthly Equity for 15 months |
20,333.33 |
Balance Loanable to Bank (Metrobank or UCPB) .................................................. 1,430,000.00
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Monthly BANK Amortization:
| 5 yrs @ 10.5% |
31,470.21 |
| 10 yrs @ 10.5% |
20,029.63 |
| 15 yrs @ 10.5% |
16,541.13 |
| 20 yrs @ 10.5% |
15,010.76 |
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Important Notes:
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Fire and MRI insurance are included in amortization.
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Processing Fees includes Transfer of Title.
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Interest rate is reference only.
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Prevailing interest rate will apply upon loan takeout.
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Bank terms for OFW is 15 yrs while locally employed has up to 25 yrs.
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Bank maximum approved amount will depend on salary & age (loan maturity is 55 yrs.).
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Buyer can move in upon full payment of equity and Bank loan take-out. Prevailing interest rate upon loan take-out will apply.
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Submission of full documents needed within 15-30 days from date of reservation.
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