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

 

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

Important Notes:

• Fire and MRI insurance are included in amortization.
• Processing Fees includes Transfer of Title.
• Interest rate is 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 upon full payment of equity and Bank loan take-out. Prevailing interest rate upon loan take-out will apply.
• Submission of full documents needed within 15-30 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. When will be the first monthly payment for amortization?

Ans. The first monthly amortization will start after you have fully paid the net equity.

• Day 1 .....................Reservation
• Day 7-15.................Submission of Requirements
• Month 1...................1st Monthly Equity or Downpayment
• Month 2...................2nd Monthly Equity or Downpayment
• Month 3-12 .............Remaining Monthly Equity or Downpayment
• Month 13 ................1st Monthly Amortization and Turnover

6. Is the house ready for occupancy?

Ans. Construction of the house will start during the payment of equity. While under construction, minor changes can be requested by the owner from the developer. If ever there are available Ready For Occupancy (RFO) units, full equity must be paid and loan has been taken-out by Pag-ibig before buyer can move-in. Please take note that turn-over unit has only cement finish flooring in all floors. Buyer will shoulder the cost of tiles intallation.

7. How can I apply for a Pag-ibig Housing Loan?

Ans. Developer will handle Pag-ibig processing. Just submit all the required documents.

8. What are the requirements for Pag-ibig Housing Loan?

Ans. If locally employed, here are the requirements

1.) 3 pcs. ID picture 1x1 (applicant)
2.) 2 Valid ID's (if married: husband & wife & Attorney-in-Fact)
3.) Cedula
4.) Birth Certificate (if single) or Marriage Contract (if Married)
5.) Proof of Billing Address or Certification from Owner if Renting
6.) Payslip (3 months)
7.) MSVS - Membership Status Verification Slip from Pag-ibig)
8.) Pag-ibig Counselling from the Developer
9.) TIN
10.) Certificate of Employment with Compensation
11.) ITR
12.) Postdated checks: Developer will give a Bank Referral Letter so Buyer can open a checking account. Only Php5,000 needed to open an account.
........a.) 12 pcs. Or as per Downpayment/Equity term chosen
........b.) 44 pcs. for Monthly Amortization
........c.) 2 pcs. Realty Property Tax (2 yrs.)
........d.) TOTAL 58 CHECKS

If OFW - Add these documents:

13.) Passport (Xerox)
14.) Job Contract

15.) Special Power of Attorney duly consularized in place of work

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