Step 4: Downpayment Stage and Loan Application

According to the signed schedule of payment (SOP), you will be receiving a monthly Billing reminder through your email. All account and corporate updates will be sent online so kindly make sure that you have declared an active and valid email address.  Please advise us for any change in your email address so that you will always be updated.

Remember your monthly payment due dates:

If the reservation date is from 1st – 15th of the month, due dates are every 15th of the succeeding months
If the reservation date is from 16th – 30th of the month, due dates are every 30th of the succeeding months

FOR LOAN APPLICATION: Apply and submit loan documents at least 1 year to 6 months before your final payment due date

Accredited banks are:

  • Philippine National Bank (PNB)
  • Asia United Bank (AUB)
  • United Coconut Planters Bank (UCPB)

We will assist buyers in bank loan applications, but it is the buyer’s responsibility to submit the loan documents directly to the bank and the Letter of Guarantee (LOG) at least 3 months before the due date

 

Bank Loan Requirements

Locally Employed Buyer

• Latest Bank Housing Loan Application Form (Originally signed by principal and
Spouse if married)
• Latest and Notarized Original Certificate of Employment with Compensation /Job
Contract
• Photocopied Latest 3 months Payslips
• Photocopied Latest Income Tax Return
• Photocopied 2 Valid ID’s of Borrower
• Photocopied 2 Valid ID’s of Spouse if married
• Photocopied Birth Certificate & Marriage Certificate if married
• Latest & Original Certificate of no marriage/CENOMAR with receipt if single
• Photocopied Latest Proof of Billing (Local)
• 4 pcs 1x1 picture

Internationally Employed Buyer
  • Latest Bank Housing Loan Application Form from our accredited banks (Originally signed by principal and Spouse if married or Attorney in fact)
  • Latest and Consularized Original Certificate of Employment with Compensation / Job Contract
  • Latest and Consularized Special Power of Attorney-Bank & CDC Form (Executed by Principal and Spouse if Married)
  • Latest 3 months payslips
  • 2 Valid ID’s of Borrower
  • 2 Valid ID’s of Spouse if married
  • 2 Valid ID’s of Attorney in fact with contact number and email address
  • Birth Certificate
  • Original latest CENOMAR with receipt if single
  • Marriage Certificate if married
  • Latest Proof of Billing (Local)
  • 4 pcs 1x1 picture of borrower
AUB
AUB

Contact Person:
Ms. Cindy Apolinario

Email Address:
apolinariomcb@aub.com.ph

Office Number:
(+632) 8638-6888 local 806

Mobile Number:
+639064113027

UCPB
UCPB

Contact Person:
Ms. Stephanie Yao

Email Address:
smyao@ucpb.com

Office Number:
(+632) 8811-9000 local 4200

Mobile Number:
+639985863936

PNB
PNB

Contact Person:
Ms. Chanelle Arban

Email Address:
arbanmcp@pnb.com.ph

Mobile Number:
+639178902064

We will assist buyers with their PAG-IBIG loan applications, but buyers must comply and monitor their PAG-IBIG loan application as well. See the link below for the PAG-IBIG website.

Please check the website of PAG-IBIG to read all updated information & details for the membership & loan below

NOTE: HDMF/PAG-IBIG may require re-submission of documents from time to time.

 

HDMF/ PAG-IBIG Requirements

Locally Employed Buyer

 

LOAN APPLICATION FORMS

 

  • Latest Housing Loan Application Form (Originally signed by principal and Spouse if married)
  • Latest Housing Loan Application Form (Originally signed by Co-Borrower if Applicable)
  • Membership Verification Slip
  • Authorization to Conduct Credit Investigation
  • Borrowers Conformity
  • Borrowers Validation Sheet
  • Conformity Pag-Ibig Housing Loan

 

FINANCING DOCUMENTS

  • Latest & Notarized COE with compensation
  • Latest 3 months payslips
  • Latest ITR
  • 2 Gov’t Valid IDs – Principal Buyer
  • 2 Gov’t Valid IDs – Spouse (if applicable)
  • Birth Certificate
  • Marriage Certificate (If applicable)
  • Latest & Original Certificate of no marriage (If single) w/receipt
  • Latest proof Billing (Local buyer)
  • 4 pcs 1x1 picture
Internationally Employed Buyer
LOAN APPLICATION FORMS
  • Latest Housing Loan Application Form (Originally signed by principal and Spouse if married & Attorney-In-Fact)
  • Latest Housing Loan Application Form (Originally signed by Co-Borrower if Applicable)
  • Membership Verification Slip
  • Authorization to Conduct Credit Investigation
  • Borrowers Conformity
  • Borrowers Validation Sheet
  • Conformity Pag-Ibig Housing Loan
  • HDMF SPA Form Notarized/Consularized
  FINANCING DOCUMENTS
  • Latest & Consularized COE with compensation / Job Contract
  • Latest 3 months payslips
  • 2 Gov’t Valid IDs – Principal Buyer
  • 2 Gov’t Valid IDs – Spouse (if applicable)
  • Birth Certificate
  • Marriage Certificate (If applicable)
  • Latest & Original Certificate of no marriage (If single) w/receipt
  • 4 pcs 1x1 picture

Frequently Asked Questions

How do I request for a check pull out?

Kindly email your request to our Billing department billing@cdcholdingsinc.com for pull out of checks.  Please note that pull out checks will be facilitated only upon receipt of payment and corresponding replacement checks and settlement of late penalties & charges.

How much are the penalties and interests for missed payments?

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;
What should I do to avoid penalties and interest?

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.

I am based internationally, how can I apply for a Loan?

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. 

When should I apply for a Loan?

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

My Statement of Account (SOA) states that I have unpaid dues, but I have settled them beforehand. What should I do?

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.

Can I add the miscellaneous charges on my loan application?

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.

When is my Monthly Down Payments due?

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.

What are the grounds for Unit Cancellation?

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)

Can I transfer the ownership or change my financing? and what are the conditions?

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
Do you allow assume/ transfer balance?

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.

I lost my job and I do not have the means to pay my unit amortization, what I should do? (Reinstatement Policy)

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.

I’m already finished paying the Down payment and the building is still not yet turned over to me, what will be my next step? (Pre-Selling Units)

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.

My loan is not yet approved (or waiting for approval), can I continue my Monthly amortization, with the same rate as my down payment? Where will my payments go, to the developer or my loan financing institution?

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.

What is an Interim Monthly Amortization?

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. 

I want to cancel my purchase; Do I get a refund?

The company follows the Republic Act 6552 - MACEDA LAW wherein the client is entitled to a 50% REFUND of the CASH SURRENDER VALUE if he has paid at least two (2) years of installments.

 

CASH SURRENDER VALUE is the net amount after deducting the following from the total amount paid:

  1. Penalty Charges
  2. Interest
  3. Commissions or Sales Incentive Paid released to agents
  4. 20% Administrative Cost
  5. Repairs & renovations, if any.

 

  • The Administrative Cost is not part of the 50% to be retained to the company, instead, this will cover the opportunity and cost of money.
  • In case the client has paid five (5) years installment, the above still applies and an additional 5% every year but not to exceed 90% of the Cash Surrender Value.
  • Cancellation and Rescission of the Contract and payment of refund shall take effect thirty days from the receipt of the buyer the notice of cancellation or the demand of rescission.
Who can I contact for the updating of records? (Change marital status, address, contact information)

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

What is the price coverage on the NON-VATABLE units? Is it 2.499M or 2M below?

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.

Where can we get the Official Receipt of our monthly amortization payments?

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.

Address

24/F 139 Corporate Center

Valero Street, Salcedo Village

Makati City, Philippines

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