The Midlands is a new exclusive development in CASA ROSITA, a 7.5 hectare development of single detached residential homes project strategically located in the vast 20-hectare Arcenas Estate, along Duterte Street, Banawa, Cebu City. It's another quality homes development in REAL ESTATE CEBU by the same Developers who developed the posh PASEO SAN RAMON. Casa Rosita is nicely nestled on a rolling terrain that gives you a good view of the hills and the sea and a portion of the city.

Total Contract price: P14,794,640
This is the corner lot with a lot area of 265 square meters. I chose this one for the quotation below because of it's being a corner lot and closest to the swimming pool and clubhouse of the Casa Rosita Subdivision as you can see in the subdivision plan attached herewith.

Reservation Fee: P300,000.00 (deductible to the down payment)
40% down payment 3 months to pay:
1st month P1,872,618.66 (after deducting reservation fee of P300,000.00)
2nd month P1,872,618.66
3rd month P1,872,618.66

60% balance 21 months to pay
4th month P422,704.01
5th month P422,704.01
6th month P422,704.00
7th month P422,704.00
8th month P422,704.00
9th month P422,704.00
10th month P422,704.00
11th month P422,704.00
12th month P422,704.00
13th month P422,704.00
14th month P422,704.00
15th month P422,704.00
16th month P422,704.00
17th month P422,704.00
18th month P422,704.00
19th month P422,704.00
20th month P422,704.00
21st month P422,704.00
22nd month P422,704.00
23rd month P422,704.00
24th month P422,704.00

If your option is bank financing as before, it's higher in price because in bank financing, you only need to pay the 30% down payment and you no longer pay monthly as you just wait until it is completed and that the bank will release the proceeds of the loan. So, the difference in price covers the interest on the waiting period as the developer will no longer receive monthly payments while waiting for the house to be completed.

Total Contract price: P15,098,401.92
Reservation fee: P300,000.00
30% down payment 3 months to pay
1st month P1,409,840.19
2nd month P1,409,840.19
3rd month P1,409,840.19

70% balance P10,568,881.35
Payable through bank financing.
Assuming 9% interest per annum, the amortization would be as follows:
If 5 years to pay: P219,393 per month
If 10 years to pay: P133,882 per month
If 15 years to pay: P107,197 per month
If 20 years to pay: P 95,091 per month