FAQ

FREQUENTLY ASKED QUESTIONS:

  • How much is the Reservation Fee?
  • When shall I start paying my downpayment?
  • When shall I start paying the amortization?
  • What are the processing fees?
  • Are there hidden charges?
  • When to apply water and Meralco?
  • What is a Construction Bond?
  • What is Pre-termination Fee?
  • When can I improve the house?
  • What is Inhouse Financing?
  • What is Bank Financing?

How much is the Reservation Fee?

LANCASTER ESTATES

Alice, Manor: Php 7,500

Catherine, Diana: Php 10,000

Colleen, Haven, Sophie, Margaret, Gabrielle, Alexandra: Php 20,000

CARMONA ESTATES

Cypress: Php 7,500

Pines Townhouse: Php 10,000

Oakwood: Php 20,000

BELLEFORT ESTATES

Charlotte: Php 20,000

Sabine: Php 25,000

Vivienne: Php 30,000

Reservation fee is not refundable and not transferable but is deducted as part of the downpayment. Buyer can only transfer reservation to another name provided same Unit ID and project.

When shall I start paying my down-payment?

Your first downpayment will start 30-45 days after you paid your reservation. Downpayment can be transferred to another person or unit provided under the same agent and developer. All payments made will be duly credited in the new owner or chosen unit. Transfer fee for this transaction is Php 3,000 to be paid upon approval of request. Approval may take 2 weeks.

When shall I start paying the amortization?

The first monthly amortization will immediately start after you have fully paid the downpayment.

What are Processing Fees for?

Processing fees are payment for the following:

  1. Premiums for the first year coverage-Mortgage Redemption Insurance (MRI) & Fire Insurance.
  2. Real property taxes for one year.
  3. Blue print of the house plans.
  4. Home Owners Association(HOA) dues for provision for preventive maintenance.
  5. Administrative and documentary expenses.

Are there hidden charges?

There are no hidden charges. Profriends does not charge move-in fees. You will apply for water and Meralco connection after house is turned-over and accepted.

When to apply water and MERALCO?

Water

Estimated cost for water connection is Php 3,800 (deposit & meter). Timetable is 1-2 weeks from application date. Cost may vary depending on choosen project.

MERALCO

Estimated cost for electrical connection is Php 2,700 (deposit & meter). Timetable is 3-4 weeks from application date. Cost may vary depending on choosen project.

What is a Construction Bond?

Profriends requires Construction Bond only if buyer construct improvement (tiles/fence/balcony) after house is accepted. Estimated amount is Php 5,500-10,500 depending on housing project chosen. This bond will pay for any damages ( should there be any) during construction of improvement period. Bond will be refunded if there is no damage done during construction.

What is Pre-termination Fee?

Profriends charge pretermination fee of 14% if you decide to loan the Balance or Loanable Amount of Inhouse Financing to Pagibig (Individual Application) and other banks not tie-up with Profriends. You or thru your SPA, will apply the loan with Pagibig Office and other banks. While loan is on process, you will be paying amortization base on Inhouse computation.

When can I improve the house?

House improvement for In-house Financing

Developer only accepts deletion of tiles in Bathroom & Kitchen countertop. Deletion charge is Php 1,000. Letter of request must be sent before house construction starts. Approval of request takes 2 weeks. You will be informed. Buyer must get outside contractor to do the improvement of of their unit. You can only start installation of tiles/improvement after house is turned-over.

House improvement for Bank Financing

Developer do not accepts deletion of tiles in Bathroom & Kitchen countertop. You can only start installation of tiles/improvement after house is turned-over. Buyer must get outside contractor to do the improvement of their unit.

What is Inhouse Financing?

Inhouse financing is a direct loan from the Developer’s Office. Buyers will pay at the Developer’s Office. There is no loan application with any Bank. 

 If you avail Inhouse Financing:

  • No required Income Tax Return.
  • No minimum salary requirement.
  • No payslips.
  • No bank account /statement needed.
  • Immigrant and Dual Citizens can apply for a housing loan without getting a co-borrower here in Phils.
  • Developer will process the loan.
  • Just submit required documents within 60 days.

Inhouse financing is recommended for Buyers who has:

  • Problem with credit record or has defaulted a previous loan.
  • Problem with their marital status.
  • Just newly employed, therefore can’t get an Income Tax Return yet (for locally employed).
  • Problem gathering required documents.
  • No time in completing bank requirements.
  • Plans to pay bigger amount anytime.
  • Income that do not meet the bank’s required amount set as per amortization amount. 

What is Bank Financing?

Bank Financing is a loan from our accredited banks, Metrobank (MBTC) and United Coconut Planters Bank (UCPB). Developer will apply and process the loanable amount or balance with the bank. Buyers will just submit the required documents.

Buyers have 60 days to change financing from Bank to Inhouse or from Inhouse to Bank Financing. No fee or charges from this changes.

Now, applying for a housing loan is easy and simple. As long as you’re working, no bad credit, you’re qualified.

  • 18 yrs old for UCPB Bank
  • 21 yrs old for Metrobank
  • Buyer should not be over 60 yrs old when loan matures.