About Downpayment

What is a downpayment (DP)?

• The down payment (DP) is a percentage of the Total Selling Price (TSP) plus the legal and miscellaneous fees (LMF).

• It is payable over a prescribed period and does not bear interest.

How long is the down payment term for In house & Bank Financing?

In-house Financing:

Ready for Occupancy: 4-12 months to pay

Pre-selling Units: 24 months to pay

Bank Financing:

Ready for Occupancy: 4-6 months to pay

Preselling Houses: 12 months to pay

How much is the required downpayment?

In-house Financing: 20% of Total Contract Price

Bank Financing: 20% of Total Contract Price

Is downpayment transferrable to another person or unit?

Yes, subject to approval:

• Transfer is only allowed within 30 days from reservation date.

• Transfer is allowed to nearest relatives only.

• Transfer is allowed to another project provided same developer.

• When there’s new price increase, it may apply during transfer.

• A transfer fee of ___________is charged upon release of approval.

What are the requirements for transfer?

• Letter – a request letter signed by Buyer (spouses).

• /RA – a new /RA filled-up & signed by new Buyer.

• Must attach complete set of required documents of the new Buyer.

• Notarized Affidavit of Personal relationship (for transfer on ownership).

How long is the processing time of approval?

Between 3 to 6 weeks.

If you pay full DP or Total Contract Price, will the house be constructed in advance?

No. House completion indicated in the Price list will still be followed.

If you pay in full, will amortization starts immediately?

No. It will not start right away.

When is the start of your amortization?

After your downpayment term.

Will you pay be downpayment and amortization at the same time?

No. Amortization will only start after you fully pay the downpayment.

Is there an interest for delayed payment?

No. Only penalty is charged to Buyers.

How much is the penalty?

Penalty is the amount to pay for delayed payment. It is ______________-.

What are required payments for the DP?

Postdated checks.

If you are Out-of-the-Country, who will open a Checking Account?

You must assign an Atty-in-Fact to open a checking account in your behalf.

Where can you open a Checking Account?

You can only open a checking account with our accredited Banks:

Requirements:

• 3 pcs. 1×1 ID

• 2 Valid ID (Passport/SSS/GSIS/Philhealth/Voters ID).

• TIN No. and SSS No.

• Referral Letter from ___________________Proof of Billing of who will open the account

• Php5,000.00 (for opening account and maintaining balance)

• Php175.00 (for the cost of checkbook booklet)