In-house financing means the buyer will pay directly to the company (owner/developer) where the real estate property is purchased. In Davao City, the total contract price is usually divided into two: 1) 20% down payment; and, 2) 80% loanable amount. The 20% down payment may be paid in monthly installments or in spot cash (spot down payment) where the buyer gets a special discount. The 80% balance can be paid monthly for a given period of time (usually up to 5 years depending on the developer) For example: A house and lot at Santiago Villas, a low -cost to middle class subdivision in Catalunan Grande, Davao City. ![]() UPGRADED KEISHA HOUSE Lot area: 143 sq mtrs Floor area: 56.28 sq mtrs House and lot Package Cost: 1,551,400 Reservation fee: 30,000 (deductable from the total package cost) Net of reservation and processing fees: 1,521,400 Computation: In-house 20% down payment: (opt to pay 1yrs @ 0% interest) = 304,280 Monthly payment = 25,356.67 80% remaining balance = 1,217,120 TERMS 1 year @ 0% int. = 101,426.67 monthly 2 years @ 12% int. = 57,294.06 monthly 3 years @ 14% int. = 41,598.26 monthly 4 years @ 16% int. = 34,493.52 monthly 5 years @ 18% int. = 30,906.84 monthly Note: This is a sample computation only. The prices and computations are subject to change without prior notice. Contact us for updates. Related Articles: Paying in Spot Cash Paying in Deferred Cash Financing Options: Pag-ibig financing Financing Options: Bank financing Ready to purchase a real estate property in Davao City? Check out this real estate website: Davao City Real Estate Properties |
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