Camella Homes Davao offers many house and lot packages. Prices start at 1.2 million and can go higher depending on the total floor area and the lot size. Don’t worry though, Camella offers friendly payment options, so if you don’t want to pay the full amount outright, you can do so in installments. We give you three ways to pay for your Camella House.
1. Through Financing
Not everyone can pay for the package in full because to put it simply, not everyone has a million pesos in their bank account. Even those who have them sometimes prefer to pay in installments so they can utilize their money for other investments.
Bank financing means getting a housing loan to cover a percentage of the total contract price.
The total amount is divided into two parts: the equity and the loanable amount.
The equity includes the reservation fee which you have to pay outright upon reservation to hold your unit and the down payment which you can pay either in full or in installments within a certain period, at zero percent interest. The equity is paid directly to the developer.
The loanable amount refers to the remaining balance after the equity. It is the amount you borrow from the bank which you can pay within a period of five, ten or fifteen years. Some banks can even offer a longer period, depending on the client’s age. This is also called the monthly amortization.
Camella Homes Davao is affiliated with a number of banks, so transactions are faster and easier. Furthermore, you don’t have to put a lot of effort with the loan application for affiliated banks because Camella will do it for you. All you need to do is to provide the necessary documents for the bank’s approval.
In cases where a client can’t get a bank loan or prefers not to get a loan from the bank, there is another option called in-house financing. For this option, you take out a loan from the developer, Camella Homes Davao. Like bank financing, it also requires you to pay for the reservation fee and the down payment. The monthly amortization can be paid within five, ten or fifteen years depending on the customer’s age.
2. Deferred Cash
Deferred cash is another popular payment scheme option. This scheme allows you to pay the full amount in installments at zero percent interest for a period of three months to twelve months depending on the status of the property. RFO’s or ready for occupancy units have a shorter payment period compared to houses for construction.
3. Spot Cash
If you don’t want to take out a loan and you have the money to pay for the property in full, spot cash is the way to go. All you need to do is to pay for the reservation fee first, to hold the property under your name. The remaining balance can be paid within a period of thirty days after the reservation date. You can get a big discount for spot cash payments made with the thirty-day period. A bigger discount can be given if you pay the full amount within seven days after the reservation date.
Do you want to know more about Camella’s house and lot packages and financing schemes? Send us a message.