Lumina Sessions: Financing Options for your Own Home

23 April 2022

Hello everyone! Welcome to another part of our Lumina Sessions for this week.


For today, we are going to talk about the different financial schemes that our homebuyers can use for the easiest and fastest way to avail real estate properties in the Philippines.


Let’s join April and Charlene from Lumina Ozamiz Marketing Office as she talks about these financing options.


What are the flexible financing schemes that we offer?

Lumina Homes offer different financing schemes. These schemes may vary according to the convenience of the client and their eligibility to avail their chosen financial options.


We compiled all of these schemes so that you will be aware as well as plan ahead when you start your home investment with us. Let’s take a look on the financial schemes that we offer below:



In the Spot Cash Payment, the buyer has to pay the whole price in a short period of time in cash which is usually one (1) month after the date of the reservation.


During the Spot Cash Payment, homebuyers can be entitled to get some discounts and they will also have the privilege to submit lesser requirements since they will not have to submit documents in banks. They won’t also have to worry about their loan term payment that can give them some peace of mind.


Submitting bank documents can take up much of their time as well as the processing and releasing of the documents.


Meanwhile on Spot Cash Payment, homebuyers can get the title right away after executing the deed of sale and paying the necessary taxes. 



In terms of Bank Financing, after the homebuyer pay the equity or the down payment, the buyer will then need to loan the balance of the property from a bank.


This simply means that the chosen bank of the buyer will pay the developer or the owner of the property. Afterwards, the buyer will then need to pay the bank monthly for their loan. The property that they bought will be under the bank’s name as collateral first just. This is to make sure that the bank can go after the property in case of non-payment of the debtor.


The amount of the loan the buyer can get will depend on the following:


  • Their gross income
  • Their age
  • The stability of their occupation
  • The appraisal value of the properties that they bought
  • Their credit history


Lenders, on the other hand, also offer conventional housing loans with an interest rate range of 6.5 % to 12 %.


But wait, we have more exciting financing schemes that our homebuyers can choose from!


If you are looking for some financing options that has no interest and with a hassle-free processing especially when it comes to the required the documents, here are the other financing options that you can consider:



With the Deferred Cash Payment, the total cash of the property will be divided equally in a given period of time.


Through this kind of home financing scheme, homebuyers can possess the benefits of hassle free transactions such as they will not be required to pay any down payment for the house and lot package that they bought, they won’t have any interest rate, and they can also enjoy a shorter period in terms of processing their real estate documents.



Just like with the Bank Financing, the home buyer will also pay the equity or the down payment first, then the remaining balance for the payment of their chose house and lot package will then be financed by the Pag IBIG Fund.


Some of the advantages that home buyers can have when they choose a financing scheme through Pag IBIG are that their loan term can have a period of up to 30 years. Another benefit would be they can enjoy a lower interest rate and can even request for a maximum loan amount that is up to Php 6 million.


Because of this, Pag IBIG Financing became the most popular financing schemes for Filipino home buyers as they grant them a longer loan term as well as a lower interest rate.



In this form of financing options, the homebuyer will take out a loan directly from the property developer in order for them to acquire their preferred house and lot package. Sounds great, right? Now, you might be wondering and excited to know how you can acquire this kind of financing scheme.


In House Financing can be applicable to our home buyers who cannot provide documents required by a bank such as proof of income. It is also a great financing option for buyers who are financially assisted by their foreign spouse, parents, or relatives. Another scenario in which home buyers can have the In House Financing is when they have an unsatisfactory credit card payment history or in the event that they have an unpaid loan from a financial institution.


The perks that you can enjoy when you choose In House Financing as your financial option for your home investment are they usually lesser stringent in terms of the requirements and their approval process. This only means that home buyers can enjoy an easier and faster loan approval for their chosen house and lot package! It also means that in this type of financing option, the client can enjoy a less strict process in terms of requirements which in return give them lesser worries in their home investment journey.


And these are the different home payments options that you can choose when you start your real estate investment with us! We hope that this was able to enlighten you and help you out in choosing the best financial options for you that can perfectly match your budget, lifestyle, and family needs.


Now, you are ready to make your home reservations in the Lumina Homes community nearest you. We have more than 50 projects nationwide so that you can surely find the best site for your needs and for your family as well.


With Lumina Homes, getting your long time dream home of a brand new house and lot can be easy as one, two, three.


See you around in our offices!

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