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Check out our Sample Computations 
.
You can browse through each floor and choose your favorite unit. Find out details ie:
Area measurements
Availability
Price
Amortization schedule
Promotional offers
Also, you can try out the mortgage calculator to determine the monthly payments that would suit
your budget.
Find out more 
You’re finally moving to your new home!
It is time to get organized and to manage your time in order to make this move as effortless as possible. We, at Linmarr Towers, understand that it can be an exciting event but can also be overwhelming and stressful. Let us present you with a few perks to make your move a stress-free experience:
- 'Welcome to Your New Home' gift basket. It contains items that are handy but are sometimes forgotten and overlooked, such as paper towels, toilet paper rolls, and assorted cleaning tools and supplies.
- 15% off coupon at Linmarr Davao Hotels and Apartelles for out-of-town families and friends to stay while helping you move. It is conveniently located just a few steps away from your new home.
- 10% off coupon for a soothing foot or body massage at Holiday Spa, a perfect place to unwind and relax after an exhausting move.
ENJOY!!!
** DAVAO REAL ESTATE **
A first in Davao!!
Full service MARINA
Holiday Oceanview Samal
Residential lots are now available for sale
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Contents:
You can make the entire process of finding and buying a home in Davao much more enjoyable by simply surrounding
yourself with a team of experienced home-buying specialists. Each member of your team know what you're
going through and can provide the answers and assistance you need.
In addition to a qualified mortgage representative who can arrange for your mortgage, you'll want
to add a realtor and a lawyer or notary public.
It is a common practice of using a realtor to find a new home; however, it is not mandatory to use the
services of a realtor when buying or selling real estate in Davao or elsewhere in the Philippines. It is
generally advisable to do so if you are not sure on what kind of real estate that you would like to purchase.
Whatever you decide, find someone who can advice and assist you in comparing and studying a variety of
property listings. To make shopping for a home more productive and enjoyable, your realtor should have a
good understanding of your needs, including your choice of neighbourhood and your price range.
Remember, it is typically the responsibility of the seller to pay any real estate commission associated
with the sale.
Referrals are a great way to find a qualified and helpful lawyer. When the time comes to make an offer on a home, you'll want
your legal representative to review it, so don't wait until the last minute to find one.
Your lawyer will review your offer to ensure that it includes all the necessary information including,
among other details, the following -
- The proposed purchase price.
- A list of items (called chattels and fixtures) included in the sale. For example, appliances, light fixtures,
bookcases and draperies may all be negotiated into the purchase price.
- Any condition you may need to protect yourself.
- The closing date for the sale of the property.
A little out of budget? Whether you're a first-time or experienced home buyer, choosing the right
financing option that best suits your needs is equally important.
In Davao, there are several options for you to choose from. These financing options are usually referred
to as "Home Loan" programs and are offered by these institutions.
- Banks and Other Financial Institutions
- Government
- Developer's In-house Financing, if a condominium or subdivision property
Did you know that there are over 2,000 financial institutions operating in Davao City including over a hundred branches of Philippine and international banks? Some banks operate 7 days a week and those inside big establishments such as malls operate 6 days a week.
There are obviously some requirements that have to be met in applying for a house loan and each banking institution will be different. Generally, they will have the same basic requirements such as:
- You must be a Filipino citizen
- Be at least 21 years old and no more than 65 years old at loan maturity
- Must be employed or self-employed
As a safe bet, approach your own bank first to enquire or discuss your home purchasing plans. You may have already developed a close relationship with them and may get better incentives this way. They may also suggest other alternative or creative ways in getting your loan application approved. Home and personal loans are big businesses for banks and therefore they will do their maximum effort in keeping you as their client. Also, some banks, like Banco de Oro, accept loan applications from foreigners who have resided here in the Philippines for a minimum of 2 years. Enquiring around Davao City, or checking their websites will help you in deciding the best options for you.
Some developers will have partner banks working with them. It is advantageous for you to enquire on this because there will be additional benefits offered, such as the waiving of application fees.
Government loans offered through government sub-housing agencies are for low to medium cost housing because the loanable amount is not that high. In the Philippines, the main provider of funds (funders) of government house financing are:
| Funders |
Clients |
| Home Development Mutual Fund (HDMF) or Pag-IBIG |
Fund members |
| Government Service Insurance System (GSIS) |
Government employees |
| Social Security System (SSS) |
Private sector employees |
The criteria where a member of a funding agency is qualified to borrow varies. But generally, the following criteria should be possessed by the borrower:
- Be an active member and has paid at least 24 monthly contributions for HDMF members
- Not be more than 65 years old at loan maturity
- Not have other outstanding housing loan by the SSS, GSIS or HDMF
- Be up-to-date in the payment of all due loan amortization
- Have satisfactorily passed background/credit and employment checks
- The employer must be up-to-date in payment of monthly contributions and remittances
The loan terms do not exceed 30 years and the collateral is a first mortgage lien on the real estate property and improvements thereon. Each agency will be different in terms of the maximum loanable amount you can qualify and new programs are being introduced once in a while. it is best to check with the agency that you are a member of.
Special mention of the Home Development Mutual Fund (HDMF) or Pag-IBIG is necessary as this fund represents the strongest partner in realizing Filipino workers’ dreams.
After eight years as a voluntary fund, the nature of Pag-IBIG membership reverted to mandatory, effective January 1, 1995. Coverage of the Fund shall be mandatory upon all employees covered by the Social Security System and the Government Service Insurance System, and their respective employers.
Today, more than a decade after, the Pag-IBIG Fund continues to be a strong partner in realizing Filipino workers’ dreams, moving towards its vision of becoming a premier and globally competitive provident financial institution.
Pag-IBIG members can borrow as high as 2 million Php, based on the lowest of the following:
- 1. Actual need – how much do you want to borrow?
- 2. Loan entitlement – how much or what level of contributions are you making?
- 3. Capacity to pay – what is your monthly net disposable income? Is it within 40% of the monthly loan repayment of principal and interest?
- 4. Loan-to-value-ratio – what is the ratio of the loan amount to the appraised value of the collateral?
Some developers who want to expand their markets to government sub-agency members must first be accredited with that specific sub-agency. There are certain requirements that must be met which may or may not be favorable to the developer, or a development may or may not conform with the Sub-agency’s requirements and standards. If the borrower wants to avail of his agency’s loan programs, he may have to check also whether the particular development he is interested in is an accredited project of his agency.
Most project development offer in-house financing to interested buyers, with terms ranging from 0 – 15 years and interest from 0% to 18%. In-house financing are loans offered to the buyers by the developers. Many buyers prefer in-house financing over using a bank or government sub-agency. For one, it is a much simple procedure and is hassle free. Other benefits include:
- faster processing of transactions, no loan application fees, less paperwork, minimal background and income checks, fixed interest rates and the ability to prepay the loan amount without penalties being imposed.
At Linmarr Towers, we are offering 10% discount for 100% cash purchase, in addition to FREE LCD TVs. If you have the funds to purchase the units 100%, investing it in the money markets or keeping it in your savings account will not earn you as much as 10%. Why not avail of our 10% discount now while it is still available?
Related links:
Davao Real Estate Guide and TipsTips and guide to owning real estate in Davao City, Philippines. Your guide to doing it right!
Buying a HomeYou want to live in the nicest home that you can afford. And you want to have enough money to buy the things you need
and live the lifestyle you choose. You can achieve both of these by planning carefully and getting the right advice.
Searching for your New HomeThe first step to choosing a home is to find homes for sale in Davao. Today you have more house-hunting resources
than ever before at your command.
Buying a CondoWhen you hear "condominium," your first image may be of a luxury high-rise in a big city. However, a condominium is not a
type of building, but a type of property ownership.
If you have any questions and/or concerns please don't hesitate to
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