Direct Bank Financing
- Applicable to Accredited Banks only
- If thru NON Accredited Banks - should avail of In-house Financing up to loan drawdown
Accredited Banks
- United Coconut Planters Bank
- BDO/EPCIB
- Union Bank/IBank
- BPI Family Savings Bank
General Terms
- Maximum Loan Amount = 80% of TCP (depending on the result of Credit Investigation)
- Availability of Title & TD = available
- Condominium = RFO
- House and Lot = 100% completed
- Equity = fully paid
Addendum to CTS
- For direct bank financing, buyer shall sign additional document/undertaking which shall form part of the Contract to Sell
- Undertaking states that buyer shall automatically convert to In-house financing in the following instances:
- Disapproval by the bank
- Delay in processing of documents/loan drawdown caused by the buyer
Transfer Fees
- Should be collected prior to loan release
- DMCI will process the Title Transfer. Client does NOT have the option to process Title Transfer
- Details & Computations are as follows:
- Documentary Stamp Tax (DST) - payments made to Bureau of Internal revenue (1.5% of TCP or Zonal Value whichever is higher)
- Transfer Fees - taxes paid to City Treasurer's Office (0.5%)
- Registration Fees - dues paid to the Registry of Deeds (RD)
- Assurance Fund - 1/4% of 1% required by law for every transferred title
- Processing Fees - miscellaneous; e.i., notarial fees, administrative fees, etc.
- Real Property tax - billed upon acceptance of the unit
back to top
back to filbuild homepage