Let me walk you through how the total cost of the Calle Centrale 1-Bedroom unit was calculated.
The unit has a total gross area of 31.16 sqm, combining a liveable area of 26.45 sqm and a balcony area of 4.71 sqm. The total selling price starts at Php 5,323,829.80, but after applying a promotional discount of Php 40,000, the net selling price becomes Php 5,283,829.80.
On top of the net price, buyers need to cover additional charges. Legal and miscellaneous fees are set at 10% of the net selling price, amounting to Php 638,859.58. There’s also a 12% VAT applied, which adds another Php 634,059.58. Adding all these together, the Total Contract Price (TCP) sums up to Php 6,450,272.35.
The equity or down payment required is 18% of the TCP, which calculates to Php 1,161,049.02. A reservation fee of Php 30,000 is deducted, leaving a net equity payment of Php 1,131,049.02. This amount is to be settled through a step-up payment plan over 51 months.
The payment structure follows three phases:
- Step-Up 1 (Months 1-17): Lower monthly payments of Php 13,306.46
- Step-Up 2 (Months 18-34): Mid-level monthly payments of Php 23,286.30
- Step-Up 3 (Months 35-51): Higher monthly payments of Php 29,939.53
After completing the equity payments, the remaining 82% of the TCP, which amounts to Php 5,289,223.33, becomes the full balance. This will be financed through a bank loan.
Estimated monthly amortizations based on a 7% interest rate are as follows:
- 5 years: Php 104,732.96 per month
- 10 years: Php 61,412.37 per month
- 15 years: Php 47,541.03 per month
- 20 years: Php 41,007.29 per month
The exact loan interest will still depend on the bank at the time of application.
In summary, this computation allows you to gradually manage your payments while preparing for the larger loan balance later. It’s a flexible scheme designed to ease the financial load in the early years before transitioning to full amortization.
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