Buyer's Guide

Initial Requirements: To be Submitted upon Reservation Reservation Agreement (RA) Buyer Information Sheet (BIS) Reservation Fee (RF) _______________________________________________________ Bank Financing: Bank Financing Guidelines (Metrobank) Profriends will be processing your bank loan. Submit required documents within 60 days from Date of Reservation. General Requirements 1. Duly Filled-up Bank Form 2. 3 pcs. ID picture (husband/wife/SPA) 3. Marriage Contract if Married, Birth Certificate if Single 4. Photocopy of two (2) Valid IDs (Husband/Wife/SPA) 5. Tax Account No. (TIN) 6. Proof of Billing here in the Philippines (Meralco, Manila Water, PLDT, Globe, etc.) Additional Requirements for OFW 1. Initial requirements 2. Job Contract 3. Photocopy of Passport 4. Special Power of Attorney (SPA) – forms provided upon Reservation 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 (cedula) Note: Bank Forms will be provided upon Reservation. OFWs who are unable to personally sign bank loan documents must submit One (1) copy Consularized Special Power of Attorney (SPA) designating their representative. Eligibility Requirements At least 21 years old but not more than 65 years old upon loan maturity. Must have no adverse credit findings with CMAP & NFIS NO default in monthly DP payments for 3 consecutive months and/or must not have incurred delays in payments of 5 months or more within the 15-month DP Term. Locally employed applicants must submit latest ITR/W2. If Locally Employed (No Need to Submit initially, unless ask by the Bank after Credit Investigation) Latest Income Tax Return (ITR) Certificate of Employment with Compensation and 3 mos latest payslip ________________________________________________________________ In-House Financing Requirements for In-House Financing 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 ___________________________________________________________ Discount Discount on Full Payment of Down Payment Note: Provided the house is less than 40% constructed and more than 6 months to Turn-over. (Bank | In-House Financing Only) 1-30 days from Reservation – Less 7.5% 31-60 days from Reservation – Less 7.0% 61-90 days from Reservation – Less 6.5% 91-120 days from Reservation – Less 6.0% 121-150 days from Reservation – Less 5.5% 151-180 days from Reservation – Less 5.0% Discount on Full Payment of Total Contract Price 1-7 days from Reservation – Less 10.0% 8-30 days from Reservation – Less 9.5% 31-60 days from Reservation – Less 9.0% 61-90 days from Reservation – Less 8.5% 91-120 days from Reservation – Less 8.0% 121-150 days from Reservation – Less 7.5% 151-180 days from Reservation – Less 7.0% 181-210 days from Reservation – Less 6.5% 211-240 days from Reservation – Less 6.0% 241-270 days from Reservation – Less 5.5% 271-300 days from Reservation – Less 5.0% 301-330 days from Reservation – Less 4.5% 331-360 days from Reservation – Less 4.0% Deferred Cash Payment 24 Months ZERO (0%) interest – Pay in 24 monthly equal installment without Interest. _________________________________________________________________ Others Procedure in Buying a House Using a Financing Scheme (Bank, In-House) 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 16 – 2nd to 12th or 2nd to 15th: Monthly Equity or Down payment Month 14 to 17 or Month 17 to 20 – Last Monthly Equity / Down Payment and House Turn-Over Reservation Reservation is from P10,000 to P20,000 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 Three Thousand Pesos (P3,000.00) will be charged to the buyer. 1 to 2 weeks approval. 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. 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. 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. 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. 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. 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.