While CASH payment is good, not all Filipinos can readily produce the amount needed to settle the total contract price of their chosen unit so most developers offers these 3 types of financing options.
1. In-House Financing – This means that you are loaning the total amount of your property purchase to the developer. For example, if you choose a unit from Bali Hai Residences in of MyCitiHomes in Imus, Cavite and you opted to avail their in-house financing, you are loaning from MyCitiHomes and you will pay your monthly amortization to them directly. Somehow, you can even consider this arrangement as Rent-To-Own.
Below is a sample computation for Bali Hai Residences if ever you will consider Bank Financing. Click here to know more on about this pre-selling property.
If I'm not mistaken, real estate developers are mandated by law to come up with their affordable housing projects so that ordinary Filipinos can realize their dream of having their own decent house and lot.