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Hornijas-Tobias Realty & Co.

Financing Options: In-house financing

8/27/2010

Comments

 
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.
Santiago Villas is a low-cost to middle class subdivision located in Catalunan Grande, Davao City. This Davao housing has affordable house and lot packages that can be availed thru Pag-ibig financing, in-house, or bank.
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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  • Home
  • PROPERTIES
    • Housing Projects >
      • North of Davao >
        • Malibu Residences Davao
        • Oakridge Residential Estate
        • Aspen Heights Subdivision Davao
        • The Prestige Subdivision
        • Deca Homes Indangan Subdivision Davao
        • Hidalgo Homes Subdivision Davao
        • Cambridge Heights
        • Villa Alevida
      • South of Davao >
        • Twin Palms Residences
        • Crestview Homes Davo
        • Villa Monte Maria Davao
        • Villa Señorita Subdivision
        • Granville Subdivision Davao
        • Greenwoods Subdivision Davao
        • Villa Mercedita Subdivsion Davao
        • Deca Homes Mintal Subdivision Davao
        • Bambu Estate Subdivision
        • Bellavita Subdivision Davao
        • Grace Park Subdivision
        • Luna Residences Davao
        • South Villas Heights 2
        • Villa Kareena
        • Villa Constancia Homes
        • Elenita Heights
        • Granville 3 Subdivision Davao
      • Samal Island >
        • Holiday Ocean View
      • Digos City >
        • Villa de Salvacion Residences
      • Tagum City
    • Condominium Projects >
      • Low Cost
    • Private Residential
    • Commercial Properties
    • Agricultural Properties
    • Industrial Properties
    • Rawlots
    • Memorial Properties
    • Foreclosed Properties
  • Referral
    • Refer A Buyer
    • Refer A Seller
    • Refer A Property
  • Join Us
    • Be a Real Estate Agent
    • Be a Sales Manager
  • Contact us
    • List Your Property