The budget is a big concern in house hunting, so thank goodness for the variety of options available to home buyers! To give you an idea of how much you’ll need and which financing schemes are attractive to you, check out our sample computations below. Just remember that these prices are subject to change without prior notice, and that the final computations will come from the developer or the property owner.
- Lancaster New City
Bank and In-house Financing are available for LNC’s pre-selling units. The Bank Financing amortizations are computed with an estimated interest rate at 7.75% plus insurances, while the In-house Financing rates are set at 21% for ten (10) years and 18% for five (5) years.
The two financing schemes are also available for RFO units but with different terms for Bank Financing. It starts with a 7% downpayment with 0% interest for eight (8) months. The remaining balance (including insurances) is divided into 2 parts: 5.5% with 14% interest for seven (7) months and 87.5% with an estimated interest rate of 7.75% for twenty (20) years. This is to keep the monthly payments in roughly the same range and therefore, easier on the budget.