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  • Orientation Seminar Documentation Part

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    Zilla Rozzi Javier
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    1) The document outlines the financing scheme for purchasing a DECA home, which involves an initial equity payment of minimum 3% of the contract price paid over 6 months, with the balance amortized over 25 years through a Pag-IBIG housing loan at an initial interest rate of 9.5%. 2) The requirements for buyers include having an income no more than 35% of gross monthly income, being under 65 years old at loan maturity, and submitting proof of income and identity documents. 3) The process involves submitting post-dated checks, signed documents, and attending an orientation before taking occupancy of the home.

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    1) The document outlines the financing scheme for purchasing a DECA home, which involves an initial equity payment of minimum 3% of the contract price paid over 6 months, with the balance amortized over 25 years through a Pag-IBIG housing loan at an initial interest rate of 9.5%. 2) The requirements for buyers include having an income no more than 35% of gross monthly income, being under 65 years old at loan maturity, and submitting proof of income and identity documents. 3) The process involves submitting post-dated checks, signed documents, and attending an orientation before taking occupancy of the home.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    12 views8 pages

    Orientation Seminar Documentation Part

    Uploaded by

    Zilla Rozzi Javier
    1) The document outlines the financing scheme for purchasing a DECA home, which involves an initial equity payment of minimum 3% of the contract price paid over 6 months, with the balance amortized over 25 years through a Pag-IBIG housing loan at an initial interest rate of 9.5%. 2) The requirements for buyers include having an income no more than 35% of gross monthly income, being under 65 years old at loan maturity, and submitting proof of income and identity documents. 3) The process involves submitting post-dated checks, signed documents, and attending an orientation before taking occupancy of the home.

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    of 8

    Own a DECA home


    Financing Scheme

    Financing Scheme Term Interest Rate


    9.5% until migrated to
    CTS (HDMF) Up to 25 Years
    HDMF

    8990 FINANCIAL LITERACY 2/21/2019


    ECONOMIC

    EQUITY  Minimum of 3% of the Contract Price (excluding


    Reservation Fee)
     Payable up to maximum of 6 months
     Payment to commence a month after the reservation date
    BALANCE AFTER
     Amortized monthly over maximum of 25 years
    EQUITY
    through Pag-IBIG Fund Housing loan program
     9.5% until the housing loan application is successfully
    INTEREST RATE migrated to Pag-IBIG Fund
    ECONOMIC

    MOVE-IN POLICY a. After full payment of equity or CTS take out, whichever
    comes later
    b. Submitted complete documents and requirements both
    CTS and HDMF, including PDCs (50 checks)

    PDCs:
    • 46 Monthly Amortization
    • 3 Equity
    • 1 Guarantee Check amounting to 12 months worth of amortization

    c. Signed certificate of unit acceptance


    d. Attended the site orientation (OPTIONAL)
    ECONOMIC
    - 35% GMI; and must be properly documented
    BUYER’S - Age of borrower should not exceed 65 years old upon loan maturity
    QUALIFICATION & - Co-borrower is allowed up to 2nd degree of affinity and consanguinity
    - Co-owner for 3rd degree up or not blood related.
    REQUIREMENTS
    UPON RESERVATION
    - Updated proof of income
    - 1 Primary ID (Borrower and Spouse)
    - Loan docs completely filled out and consistently signed both CTS and HDMF
    - SPA (If applicable); 1 Primary ID of AIF
    - Attended the Financial Literacy Seminar and 1-on-1 Appearance
    - Site tripping
    - Duly accomplished MSVS form with 24 months latest contributions print out
    CAN BE UNDERTAKEN within 7 working days
    - Marriage Contract / Birth Certificate
    - PDC (50 checks)
    - Four 1x1 ID photo
    - HDMF Validation
    Pag-IBIG Considerations
    1. Borrower’s Actual Need (OPB)
    2. Borrower’s Contribution
    3. Capacity to Pay (35% GMI)
    4. Loan-to-Collateral Ratio (House and Lot
    Appraisal Value)

    Notes: Whichever is the LOWEST shall be considered for Pag-IBIG


    housing loan application.

    8990 FINANCIAL LITERACY 2/21/2019


    Important Reminders
    1. Buyer to submit an updated Proof of Income (POI) every 3 months
    thereafter, until the housing loan has been successfully approved by
    Pag-IBIG Fund.
    2. Buyer’s Pag-IBIG contributions has reached 24 months and must be
    updated.
    3. If with existing MPL/HL, it must be updated.
    4. Had no history of foreclosed account (FAA) in Pag-ibig Fund.
    5. Pag-IBIG Migration should be the discretion of the Developer when
    to process and deliver to Pag-IBIG Fund.
    6. Outstanding Principal Balance (OPB) shall be the basis for the
    computation of the loanable amount to be processed to Pag-IBIG
    Fund.
    7. Buyer to pay his CTS monthly amortization until the housing loan has
    been successfully approved by Pag-IBIG Fund.
    8990 FINANCIAL LITERACY 2/21/2019
    Thank You!

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