Financing Requirements

• Requirements for Bank Financing
• Requirements for In-House Financing
• Requirements for Pag-Ibig Financing

• What is the procedure for Financing Scheme?
• How about reservation?
• When will the 1st equity/down payment made?
• How about monthly amortization?
• How do we go about the turn-over of the unit?
• Is there a buyer's guarantee?
• Can I make improvements on the house?
• When can I move in?
• If I pay in cash can I get discounts?

Requirements for Bank Financing

Standard Application Requirements

Bank Financing

A. Documents:

1. Contract To Sell (9 Copies)

2. Deed of Reconveyance (7 Copies)

3. Deed of Absolute Sale (7 Copies)

4. Cocolife Insurance Form (2 Copies)

5. PNB Life Insurance Form (2 Copies)

6. CI Form (1 Copy)

7. Metrobank Application Form (MBTC Financing)

8. AXA Life Form (MBTC Financing) - 2 Copies

9. UCPB Application Form (UCPB Financing) - 1 Copy

10. SPA Form (MBTC/UCPB - 7 Copies) - 3 Copies Consularized

11. SPA Form - Profriends (7 Copies)

12. AIF Info Sheet - attached with 1 pc. ID Picture (1 Copy)

B. Requirements:

1. Counseling - PFI (Developer)

2. 1x1 Picture (3pcs)

a. Buyer

b. Spouse

c. AIF

3. Photocopy of Valid ID's

a. Buyer

b. Spouse

c. AIF

4. Residence Certificate

a. Buyer

b. Spouse

c. AIF

5. Tax Identification (TIN) - Buyer

6. Marriage Contract / Birth Certificate

7. Proof of Billing (Electric bill, water bill, phone bill, etc)

8. Job Contract or CEC (Original) - Consularized and needs e-mail add of the Company

9. Post Dated Checks

a. Down Payment

b. Guaranteed Check - if applicable

To be submitted if applicant is self employed.

1. Audited Financial Statements for the last 2 years
2. Two (2) years in-house Financial Statement and Interim Statement (when available)
3. ITR for the last 2 years
4. Photocopy of Bank Statements and Passbooks for the last 6 months
5. Certificate of Business Registration with SEC or DTI (if single proprietorship)
6. Articles of Incorporation and By-Laws (if applicable)
7. Business Background / Company Profile
8. Trade Suppliers / Customers (at least 3 for each with contact persons and telephone numbers)

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In House (Initial Requirements)

1. Latest proof of income.
2. 3pcs. recent 1 x 1 I.D. pictures
3. Marriage Contract, Birth Certificate, or Separation papers (if needed)
4. Community Tax Cert. No.
5. Complete post dated check for Equity and Amortization
6. TIN

Additional Requirements for OFW

1. Initial requirements
2. Job Contract
3. Passport
4. Special Power of Attorney (SPA)
5. Valid I.D. of Attorney in Fact
6. 1 pc. I.D. picture of Attorney in Fact
7. Residence Certificate of Attorney in Fact

Self-Employed

1. Initial Requirements
2. Affidavit of Income
3. Business Name and Permit
4. Passbook with 3 months maintaining balance
5. ITR

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1.    3pcs. ID pictures (husband and wife)

2.    Photocopy of valid ID (husband and wife)

3.    Photocopy of Residence Certificate (cedula)

4.    Certificate of Employment with Compensation

5.    Tax Identification Number (TIN)

6.    PDC's for Downpayment

7.    _______ PDC's for Monthly Amortization

8.    1 Guaranteed Check

9.    9 checks for Real Property Tax if loan term is 10 years

10.  4 checks for Real Property Tax if loan term is 5 years

11.  Proof of billing (PLDT, Meralco, others)

12.  Income Tax Return

13.  Birth Certificate

14.  Marriage Contract

15.  Photocopy of payslip - past 3 months

16.  Pro-Friends Counseling Form

17.  MSVS - Pag-Ibig

18.  PDC's (36 M.A. for Cedar & 44 M.A. for others)

19.  2 checks for Real Property Tax

a. Proof of income for more than P750,000 loan amount

b. Certificate of employment with Compensation

c. Income Tax Return (ITR) / W2

d. 3 months payslip

Requirements for  Self-Employed:

a. Proof of income for more than P750,000 loan amount

b. Business Permit

c. Audited Financial Statement

d. BIR Deposit Slip

e. ITR with BIR Stamp

c. Proof of income for more than P1,000,000 loan amount

d. Contract of Employment

e. Job Contract duly signed by POEA

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Month 1 - Day 1 to Day 30: Submission of Requirements (Please refer to financing requirements)

Month 2 - Day 5th or 20th:     Ist Monthly Equity or Down payment

Month 3 to 13 or Month 3 to 19 - 2nd to 12th or 2nd to 18th: Monthly Equity or Down payment

Month 14 to 17 or Month 20 to 22 - Last Monthly Equity / Down Payment and House Turn-Over

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Reservation

Reservation is from P7,500 to P30,000 depending on the house model. It is non-refundable but will make as part of your downpayment. It can be transferred to another unit or person provided it is from the same agent and developer. A transfer fee of P3,000.00 will be charged to the buyer. 1 to 2 weeks approval.

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Monthly Equity or Down payment

First monthly equity or downpayment will start either on the 5th or the 20th hit date of the following month upon reservation.
Example: Reserved a unit on Jan. 1. First monthly equity or down payment will start on Feb. 5. Succeeding payments deadline will be on every 5th of the month.

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Monthly Amortization

First monthly amortization will start a month after finishing payments of monthly equity or downpayment. It will not coincide with downpayment. (Hindi po magsasabay) Amount and duration will depend on the loan and term applied for.

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House Turn-Over

Buyer will receive a Clearance for Inspection (CFI) from the developer (Pro Friends) stating that the house is ready for inspection. Buyer will be given 2 months to inspect and make repair request for the house. Buyer will issue a letter of acceptance when everything is well.

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Buyer's Guarantee

Yes, there is. Aside from 2 months to make repair request for the house upon completion, buyer will also be given one whole rainy season to inspect the house. If found to have a leak, developer will make repair FREE of charge.

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House Improvement

House improvement will only be allowed upon turn-over of the unit. Buyer will submit drawings/proposal to Engineering office of the developer for approval of alterations. This is to ensure structural integrity.

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Ready for Occupancy

Buyer is required to make full down payment and take-out of bank loan to transfer. Estimated time to move-in is 1 to 4 months.

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Discounts if Paid by Cash

Yes, discounts are based on the selling price.

• Within 7 days from the date of reservation fee - 10%
• Between 8 - 30 days - 9.5%
• Between 31 - 60 days - 9%
• Between 61 - 90 days - 8.5%

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