Step 4: Downpayment Stage and Loan Application

The request of check pull-out checks must be made 30 days from the date of the check and email your request to our Billing department billing@cdcholdingsinc.com. Please note that pull-out checks will be facilitated only upon receipt of payment and corresponding replacement checks and settlement of late penalties & charges.

As per Contract to Sell – the accrued penalty & interest of 3% per installment per month or a fraction of month from the date of default until fully paid.

Reference: Contract to Sell Section 2. The Purchase Price and Manner of Payment

d. All payments shall be made on or before the respective due dates without necessity of any notice or demand thereof. Failure of the BUYER to pay any installment on its due dates shall make the total unpaid balance of the purchase price immediately due, payable and defaulted and shall entitle the DEVELOPER at its own option, (1) to demand full payment of the total principal sum then remaining unpaid, together with accrued penalty/interest of three (3%) percent per installment per month or a fraction of a month (i.e. one or two days delay in payment from due date shall also merit same amount of penalty) from date of default until fully paid, or (2) to cancel this Contract subject to Paragraph 3 hereof;

Please refer to your signed Schedule of Payment (SOP) and kindly pay promptly and regularly – prior to your due date.  Submission of post-dated checks (PDCs) is the best solution so that buyer will have the monitoring of payment due date.

For buyers paying monthly via remittance, kindly ensure that the payment will be transmitted to the developer at least 5 days prior to your due date to avoid unnecessary penalties and interest.  Deposit and remittance slips must be emailed and properly notified to our billing department through billing@cdcholdingsinc.com.

It is imperative that all international clients have an appointed SPA representative in Metro Manila to process and handle all the documentation needed for the loan financing. 

Housing Loan Application should start at least 6 months before the due date of financing based on the schedule of payment.

Kindly send your proof of payment to the billing department through billing@cdcholdingsinc.com – e.g. remittance slip transaction or bank statements reflecting the deduction of payments to avoid being charged with penalties & interests.  Non-submission of payment slips can result in late posting of payment in the statement of account.

Yes, if your loan approval is bigger than the financing balance based on your latest Statement of Account.  This will be done on a case to case basis depending on the approval of the bank/HDMF.

Please refer to your signed Schedule of Payments (SOP). You will see that your due date is either 15th or 30th of the month usually 30 days after the payment of the reservation fee.

Unit cancellation is from the non-payment of fees based on the schedule of payment, disapproval of creditworthiness, non-submission of post-dated checks, and failure in the submission of financing documents within the timeline for the housing loan.  The client will be cancelled if he/she does not submit the documents at least 6 months before the due date.  Notice of requirements (NOR) will be sent to clients as a reminder to submit COMPLETE documents. (refer to the list of documents here)

TRANSFER - shall mean Change in unit, change in buyer’s name or applicant, or change in payment scheme/financing.

CONDITIONS:

1. Only the principal buyer is allowed to request any transfer.
2. All requests of transfer must be in writing, subject to the approval of the management.
3. The buyer must not be in default during the request for transfer.
4. The buyer shall agree to pay the prevailing price of the new unit.
5. In case of change of owner/borrower, the new buyer must be pre-qualified first by the Credit department prior to the approval – must submit income documents.

CONSIDERATIONS:

• Request for changes in the account within FIVE (5) working days after reservation, transfer fee shall be waived.
• Changes or transfer within THIRTY (30) days after reservation shall be subject to FIVE THOUSAND (Php 5,000.00) PESOS transfer fee for the same price.
• Any request for transfer after the THIRTY (30) day reservation period shall be subject to TEN THOUSAND PESOS (P10,000.00) transfer fee for the same price.
• If the transfer is to downgrade or upgrade unit, an administrative fee of TEN THOUSAND (Php 10,000.00) PESOS shall be imposed.
• Clients can change their financing up to 6 months before their due date of financing based on the schedule of payment.  They will be charged with an administrative fee of TEN THOUSAND (Php 10,000.00) to redocument their contracts and document submissions

No, the company strictly does not allow assume balances except for first degree of CO-SANGUITY meaning in the same family e.g. Parents & Children only.

The Client should inform the head office right away to request immediate cancellation of account and process pull out issued checks to avoid further penalties imposed by banks.

When the buyer regained his/her financial capability after the unit cancellation and still wishes to continue the property investment, CDC Homes has a policy of reinstatement wherein the buyer may transfer to any of CDC Homes projects and 50% of payment from the previous unit will be credited. There will be no assurance that the original selected unit will still be available. Please note that this offer is only valid after 2 years from the Unit Cancellation and new prevailing price shall be applied.

If the unit is Pre-selling, continue the Monthly amortization payment and it will be deducted from the loanable amount based on your schedule of payment. You may request a Statement of Account to our Billing Department through billing@cdcholdingsinc.com and they will be giving you also a billing statement to know how many checks you will need to issue for this payment continuation.

If the unit is Ready for Occupancy (RFO) or the building is 90% substantially completed, the developer will already start charging the monthly amortization with 12% interest wherein only the principal amount to be deducted from the loanable balance.

Failure to settle the full payment based on the agreed Schedule of Payment may result in the cancellation of your account.  The Interim Monthly Amortization is a special accommodation or program to allow you to avoid cancellation by continuing the monthly payments with reduced computation of the interest and penalties, while your loan proceeds are not yet available.

Interim Monthly Amortization is a special accommodation given to accounts that need more time to process their full payment through bank or Pag-Ibig loan take out. It is computed at 12% per annum starting for the original final payment due date. 

The company follows the Republic Act 6552 -  under MACEDA LAW

SOG department will be sending a Change Buyers Information Sheet for you to change your information in our system.  You may send in your request to sog@cdcholdingsinc.com

As per latest CREATE law passed last March 2021, the VAT ceiling was one of the provisions vetoed by the President.  Since the President can only veto law and not passed law, fresh legislation is needed to increase the current threshold.  The current threshold as per last TRAIN LAW went down to Php 2M beginning January 2021.

Physical copies of the official receipt may be picked up at our Head office or can be transported through a courier service (at buyer’s expense). For this arrangement, you may coordinate with our Billing Department through billing_supervisor@cdcholdingsinc.com

We are also sending the scanned copies of the official receipts through your declared email address, 4-6 weeks after the payment due date.

Please note that Official Receipts are systematically encoded and automatically sent through email to accounts with issued Post-dated Checks (PDCs) only.

Payments via Remittance may take a longer verification time especially if

• the client didn't provide the copy of the Proof of Payment Remittance to CDC Homes
• there's an Overseas Fund Transfer delay
• there is NO details on the Deposit/ Remittance slips such as the Month of Payment Coverage, Unit Number
• the transaction reference number/s are unreadable

With this, we are encouraging ALL our clients to issue PDCs to prevent delays and to receive the systematized sending of all your Official receipts.

For the payment verification and proper posting on your account, kindly send the copies of your remittance slips to billing@cdcholdingsinc.com to avoid penalties and interests.