Total Selling Price 1,750,000.00 Plus Processing Fee 140,000.00 Total Contract Price 1,890,000.00 Less: Loanable to Bank (UCPB/MetroBank) 1,512,000.00 Required Equity 378,000.00 Less: Reservation 20,000.00 Net Equity payable in 24 months 358,000.00 Monthly Equity for 24 months 14,916.67

 

Monthly BANK Amortization: Years Monthly Amortization Required Monthly Salary 5 yrs @ 10.5% 32,890.21 Good News! Effective February 2011, there will be NO required salary for banking loan in our properties 10 yrs @ 10.5% 20,745.87 15 yrs @ 10.5% 17,012.71 20 yrs @ 10.5% 15,355.81

Important Notes:

• Fire and MRI insurance are included in amortization.
• Computation above is sample only. Units still vary in price depending on latest inventory.
• Processing Fees includes Transfer of Title.
• Interest rate are estimate and for reference only.
• Prevailing interest rate will apply upon loan takeout.
• Bank terms for OFW is 15 yrs while locally employed has up to 25 yrs.
• Bank maximum approved amount will depend on salary & age (loan maturity is 55 yrs.).
• Buyer can move in on the 16th to 18th month even while downpayment is being paid.
• Submission of full documents needed within 60 days from date of reservation.

 

 

1. How much is the Reservation Fee?

Ans. Reservation Fee varies according to the selling price of the house. For example, the Reservation Fee for Oakwood is 20,000 pesos.

2. Is the Reservation Fee refundable?

Ans. It is not refundable but it is part of the downpayment.

3. Can buyer upgrade or transfer to another unit with a higher price?

Ans. Yes, provided under same developer. All payments will be credited to the new unit chosen. No penalty or deductions on the previous payments, only transfer fee of 3,000 pesos.

4. When will be the first monthly payment for equity?

Ans. Your first downpayment will start 30 days after paying the reservation fee.

5. How about House Improvement?

Ans. Buyer must get outside contractor to do the improvement of their unit. Buyer can only start installation of tiles/improvement after house is turned-over. Please take note that turn-over unit has cement finish flooring in all floors. Buyer will shoulder the cost of tiles installation.

6.) Required Documents
1.) 3 pcs. ID picture 1x1 (applicant & atty-in-fact)
2.) 2 Valid ID's (husband & wife if married)
3.) Cedula (wife & husband & atty-in-fact)
4.) Birth Certificate or Marriage Contract
5.) Proof of Billing Address or Certification from Owner if Renting
6.) TIN
7.) Postdated Checks

Additional requirements for OFW
1.) Passport
2.) Special Power of Attorney duly consularized in place of work
3.) Job Contract/Employment Certificate duly consularized in place of work

(All requirements must be submitted within 30-60 days from Reservation date)