Davao Real Estate Blog

The most spacious and largest house you will find on display at the Villaj of Solariega, Crossandra (also called formerly as Micaela) is a 4-bedroom, 2-storey house at the Solariega Subdivision. A sample home loan computation and available financing options are provided below.

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

Home Loan and Financing Computation Sample Effective June 1, 2008

Model House = Micaela or Crossandra
Floor Area = 141sqm
Min Lot Area = 144 sqm
Total Contract Price = PhP 4,027,000 (minimum price assuming a regular lot)

Reservation Fee = PhP 40,000 (forms part of the down payment)

A. SPOT CASH
= PhP 3,711,672

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

= PhP 166,125 / mo for 24 months

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

• 20% Down payment (PhP 805,400)
  = PhP 63,783 / mo for 12 months
• 80% Estimated Home Loan Takeout (PhP 3,221,600)
  = PhP 32,747 / 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 = 64,324
• 8 years at 14% pa = 69,260
• 5 years at 10% pa = 84,712
• 3 years at 6% pa = 121,292

FYI: The monthly amortization amount may vary depending on the loan term, interest rate, loan amount granted to 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. Loanable Amount 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.