FINANCING

Reservation Requirements

Upon reservation, you will be asked to fill up a Reservation Agreement form. Along with this, a reservation fee of P20,000 for the unit and P10,000 for the parking must be made.

The reservation is non-refundable and is valid for 30 days only. To complete your reservation, the following documents must be submitted within the said
30 days:

  1. Signed reservation agreement indicating terms of payment
  2. Photocopy of valid ID. One (1) if ID is issued by the government and at least two (2) for non-government issued IDs.
  3. If applicable, a Special Power of Attorney. If the buyer is out of the country, it has to be consularized.
  4. Valid ID of the Special Power of Attorney holder.
  5. Tax Identification Number (TIN)
  6. Community Tax Certificate Number (CTC)

After submission of the required documents, you will be asked to sign a Contract to sell. To avoid the cancellation of your reservation, please make sure to submit all the above documents within 30 days from the reservation date.

Payments and Financing

There are three available payment terms for purchasing your DMCI Home:

  1. Cash
  2. In-house financing, with a maximum term of 10 years.
  3. External financing

- Bank
- Pag-Ibig (Home Development Mutual Fund)

Based on the terms of payment agreed upon on your reservation agreement or your Contract to Sell, you’ll be required to begin paying your down payment
30 days after the reservation date.

Minimum down payment required:

  1. Mid-rise condominium units and Lots only – 20%
  2. High-rise condominium units and House & Lots – 30%

If your reservation date is from the 1-15th day of the month, the down payment is due every 15th of the month.

If the reservation date is from the 16th to the end of the month, down payment is due on the 30th of every month.

Available mode of payments are:

  1. Cash or dated checks
  2. Post dated checks, to cover monthly amortization (Maximum of sixty (60) checks). Local buyers are required to issue post dated checks.

BANK FINANCING

10 Easy Steps ( Own a home thru Bank Financing )

  1. Check if title and tax declaration of the property intended to be bank financed is available.
  2. Choose a bank from the list of accredited banks
  3. Obtain an application form as well as a list of requirements from your preferred bank.
  4. Fill-up the Application Form.
  5. Complete the requirements required by your preferred bank.

The following are the list of requirements required by most banks.

I.  Information on Personal Data & Income

  1. If employed ( within the Philippines)
  2. Certificate of Employee ( COE) indicating annual salary and position
  3. Latest Income Tax Return (ITR)
  4. Payslips ( last two months)
  5. Proof of Billing Address ( e.g. Meralco, credit card, etc.)

A.  If Overseas Filipino Worker (OFW)

  1.   POEA Authenticated Contract ( seaman)
  2. COE Authenticated by Philippine Consulate ( direct-hired)

B.  If Self-Employed

  1. Business Name (DTI) or SEC Registration
  2. Articles of Incorporation and By-laws with SEC Registration Certificates
  3. List of Trade References ( at least 3 names & telephone numbers of major suppliers &/or customers)
  4. Audited Financial Statements for the past two years
  5. Bank Statement for the last six months
  6. Proof of billing address (e.g. Meralco, credit card etc.)

C.  If Practicing Doctor

  1.  Clinic address/es and schedule
  2.  Bank Statement for the last six months

D.  If income is from Rental or Properties

  1. List of tenants and rental amounts
  2. Complete address/es of properties being rented
  3. Bank statement for the last six months

II.  Information on the Collateral ( to be secured from the developer)

Two ( 2) clear photography sets of Transfer Certificate of Title ( all pages including blank pages with the book and page/volume number indicated on
the front page).

For Condominium

  • Photocopy of Condominium Certificate of Title (CCT)
  • Certificate of Consent and Updated Payment of Monthly Dues from Condominium Corporation.

E.  Submit the duly accomplished Loan Application Form together with the complete documents to Finance Department. Finance Department shall
check completeness of documents and will forward to the bank for approval. Await notification for approval. Normally, this takes five (5) to seven (7)
working days.

F. Upon receipt of notice from the bank of loan approval, buyer needs to comply the following:

BANK REQUIREMENTS:

  •  Express your conformity to the Letter of Guarantee (LOG)
  • Sign the loan documents (Deed of Assignment, Promissory Note, Real Estate Mortgage, Special Power of Attorney, etc.)
  • Submit the post-approval requirements to your preferred bank such as:
  1. Post-dated checks
  2. Mortgage Redemption Insurance ( MRI)
  3. nsurance of the property to be financed

For condominiums
Fire/Earthquake Insurance endorsement, Policy& Photocopy of the Official Receipt can be obtained from the Office of the Property Manager.

For completed House & Lot & Townhouses
Insurance should be obtained from a reputable/ accredited insurance company.

* Pay bank charges which include Documentary Stamp Tax, Notarial Fees & Mortgage fees.

* Issue PDC payable to the bank to cover amortization payments

The Bank will forward the LOG to the Developer/Seller for conformity.