Davao Real Estate Blog

The Lavender (formerly Alessa) is a 2-bedroom, 2-storey house listed as among the best selling units at the Solariega Subdivision. Solariega is in Barangay Puan in the southern part of Davao City. It is accessible via the McArthur Highway going to Toril or GenSan.

Get in touch with Carlos for appointment and inquiries about the Alessa Model.

Home Loan and Financing Computation Sample Effective Oct 30, 2007

Model House = Alessa (Lavender)
Floor Area = 66 sqm
Min Lot Area = 120 sqm
Total Contract Price = PhP 2,003,000 (minimum price assuming a regular lot)

Reservation Fee = PhP 20,000 (will be deducted from the price)

A. SPOT CASH
= PhP 1,754,184 (with 12% discount)

B. DEFERRED CASH (No Interest, No Downpayment, 2 years to pay)

= PhP 82,625 / mo for 24 months

C. LONG TERM FINANCING (20% Down, 80% Bank Loan)

• 20% Down payment (PhP 400,600)
  = PhP 31,717 / mo for 12 months
• 80% Estimated Home Loan Takeout (PhP 1,602,400)
  = PhP 16,288 / mo for 25-year term at 11.5% p.a. interest rate

Monthly amortization starts after the full payment of the down payment.

D. STRAIGHT MONTHLY SELLER FINANCING
No Down payment, only reservation is required.

• 10 years at 15% pa = 31,993
• 8 years at 14% pa = 34,448
• 5 years at 10% pa = 42,133
• 3 years at 6% pa = 60,327

FYI: The monthly amortization amount may vary depending on the loan term, interest rate, loan amount granted for you. You may want to compute the monthly amortization using different loan parameters by using an online loan calculator provided with this website.

Note:
1. Price may change without prior notice.
2. Price is already set by the developer and subject to final verification. Brokers cannot change the price.
3. Reservation Fee forms part of the down payment.
4. Housing Loan Amount or Financing is subject to Credit Committee or Bank’s approval.
5. No broker or agent is allowed to accept payment or issue an Official Receipt.
6. All cheque payments must be paid to the account of the Developer.
7. This is only a sample computation for a regular lot with a minimum lot area requirement for the house. Price may be affected by the lot area and other factors.
8. Davao-Real-Estate.com reserves the right to correct clerical errors appearing in this sample computation.