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In-house Financing Guidelines

Inhouse Financing is the easiest and most flexible payment term available in Lancaster New City. If you don't want Bank Financing and want simple processing, then pay through In-house Financing.

What is In-house Financing?

IN-HOUSE FINANCING generally means taking a loan to buy the house directly from Property Company of Friends (developer of Lancaster New City). Despite the higher interest rate compared to banks, may buyers prefer this arrangement with the developer because move-in is faster and easier.

No background checks of the buyer is required. Here in Lancaster New City, In-house Financing do not strictly require submission of proof of income of the buyer. In-house Loan approval is practically as fast as one's ability to pay the reservation, fill out the forms, and submit the usual documentary requirements.

Fixed Interest Rate for All Time

Another reason why some buyers prefer In-house Financing is the fixed rates of interest for the duration of the loan period. This means thru In-house Financing, your loan and monthly amortization will not be affected by economic and political developments which usually make bank interest rates fluctuate.

In-house Financing Fixed Interest Rate:
  • For 5 years to pay loan term - 18% interest per annum
  • For 10 years to pay loan term - 21% interest per annum

What are the payment schemes available for In-house Financing?

  • SPOT CASH PAYMENT - Total Contract Price is paid in lump sum or spot payment with discount
  • DEFERRED CASH PAYMENT - Total Contract Price is paid in maximum of 24 months installment at zero interest.
  • REGULAR IN-HOUSE FINANCING - 30% Downpayment / 70% Loanable Amount to Pro-Friends

Regular In-house Financing based on Turnover
Unit Type based on TurnoverPRE-SELLING UNIT
(24 months Turnover)
READY FOR OCCUPANCY UNIT
(4-6 months Turnover)
Downpayment (zero interest)30% payable within 24 months installment30% payable within 12 months installment
Loanable Amount to Pro-Friends (with interest)70% payable in 5,10 years70% payable in 5,10 years
Total Contract Price100%100%

Who are recommended to avail In-house Financing?

These buyers are recommended to avail In-house Financing in Lancaster New City:
  • Buyers with financial-assistance from foreign spouse, parents or relatives.
  • Buyers with history of cancelled credit card or unpaid loan from other financial institution.
  • Buyers who cannot provide the proof of income requirements by the bank.

How do I qualify for In-house Financing?

Here in Lancaster New City, we've made the easiest way for our buyers to avail our In-house Financing payment scheme.

Eligible Age of Borrower

  • Buyer must be at least 21 years old upon reservation.
  • For Locally Employed: Not more than 65 years old upon loan maturity (loan end)
  • For OFW: Not more than 60 years old upon loan maturity (loan end)

What are the requirements for In-house Financing?

The following are the list of requirements that buyer needs to submit within 60 days from reservation date:

Personal Documents:
  • 3 pcs. 1x1 ID picture
  • Two (2) Government-issued Valid ID
  • Marriage Contract (if married) / Birth Certificate (if single)
  • Tax Identification Number (TIN)
  • Latest Cedula
  • Post Dated Checks corresponding the monthly downpayment (if you don’t have a checking account, developer can give bank referral to open a checking account with the accredited bank, Plantersbank)
  • Certificate of Employmenth with Compensation

    Additional requirements for OFW/Immigrants
    • Photocopy of Passport (1st page and all pages with stamps)
    • Special Power of Attorney (Consularized if signed abroad or Notarized if signed in the Phils.)

    If MARRIED, the spouse shall likewise submit the following:
    • 3 pcs. 1x1 ID picture
    • Two (2) Government-issued Valid ID
    • Latest Cedula

    If you have an ATTORNEY-IN-FACT, he/she should submit the following:
    • 3 pcs. 1x1 ID picture
    • Two (2) Government-issued Valid ID
    • Latest Cedula


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