Purchase Price and Total Contract Price
- Total Selling Price (TSP): ₱3,632,720.00Legal & Miscellaneous Fees: ₱435,200.00Total Contract Price (TCP): ₱4,067,920.00
The Total Contract Price is simply the selling price plus any additional fees. These fees typically cover paperwork, taxes, and other costs that come with the purchase.

Equity (Down Payment) Computation
- The equity or down payment is 10% of the Total Contract Price, which comes to ₱406,792.00.A Reservation Fee of ₱20,000.00 is deducted from that amount, leaving a Net Equity of ₱386,792.00.The net equity is spread out over 12 months, giving a Monthly Equity Payment of ₱32,232.67.
Buyer Benefit Tip: Spreading out the down payment over 12 months makes it easier to manage compared to a one-time, lump-sum payment.

Bank Financing (Loan) Amount
- The remaining 90% of the Total Contract Price would be financed by the bank: ₱3,661,128.00.The monthly mortgage depends on which loan term you choose (10, 15, or 20 years). Sample rates in the document are 7% fixed for 5 years:
  - 10 years: ~₱42,508.80 per month15 years: ~₱32,907.25 per month20 years: ~₱28,384.69 per month
Buyer Benefit Tip: You can choose the loan duration that best fits your monthly budget. A longer term generally means a lower monthly payment, but you’ll pay more interest overall.

Income Requirements
Banks typically assess your capacity to pay by looking at your Gross Monthly Income. A general rule (though it can vary by lender) is that your monthly amortization should not exceed around 30–40% of your gross monthly income. In the sample:
- For a ~₱42,508.80 monthly payment (10-year loan), the recommended income is ~₱128,814.55.For a ~₱32,907.25 monthly payment (15-year loan), ~₱99,718.95.For a ~₱28,384.69 monthly payment (20-year loan), ~₱86,014.20.
Buyer Benefit Tip: The bank looks at all your sources of income—salaries, business, side jobs, etc. If your personal income isn’t enough to meet the threshold, consider bringing in a co-borrower or co-owner. That way, you can combine incomes and have a better chance of qualifying for the loan.

Co-Borrower or Co-Ownership
- If you’re worried that your current income may not be approved by the bank, you can have a co-borrower or co-owner (like a spouse or close relative) so the bank considers both incomes for the loan qualification.
- This is a common approach to boost the combined income, improving your chances of approval.

Additional “Hidden” Advantages
- Locking in a 7% rate for five years: If interest rates rise, you’re still protected for the initial five years. After the fixed period, interest can be re-priced, but you’ll have had the initial lower fixed rate.
- Possible Early Payments: Some banks let you make partial lump-sum payments or pay off early. This can help you save on overall interest if you happen to earn extra money later.

Flexible Down Payment: 10% equity spread over 12 months at ~₱32,232.67 each month.
Bank Amortization Options: Choose from 10, 15, or 20 years to get a monthly amortization that best fits your budget.
You can always pay in cash or deferred payment with PDCs.
Combined Income: Add a co-borrower if you need to reach the bank’s income requirement. Remember, they count all income streams—including side hustles.
Plan Your Payment Strategy: If you expect more stable finances or higher earnings soon, you can go for a shorter loan term with a higher monthly amount but pay less interest overall. If you need a lower monthly payment now, a longer term might be best.

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Sample Computation