THE COMPLETE GUIDELINE
IN ACQUIRING YOUR NEW MHI HOME
STEP 1. RESERVATION REQUIREMENTS
I.
Contacting an Authorized MHI Property Broker/ Sales Agent
a. Secure a Listing Form or Registration Form provided MHI authorized Brokers or Sales
Agent.
b. For Online Transaction, you can download this form in our Customer Support page.
c. Once you’ve signed up our Listing Form or Registration Form, you may now schedule a
Site Tour with your MHI Property Broker/ Sales Agent.
d. After the Site Tour, you may now choose which project and unit you wish to purchase.
e. Once your Broker verifies the availability of your preferred unit, you may now proceed
to officially paying the reservation.
II. Securing a Computation Sheet
a. Your MHI Property Broker/ Sales Agent shall prepare a Final Computation Sheet for your
preferred unit.
b. For Online Transaction, your MHI Property Broker/ Sales Agent shall send you the Final
Computation Sheet through your e-mail in three (3) working days.
c. For Special Payment Terms, please inform your MHI Property Broker/ Sales Agent so
that such concerns will be passed on the Sales Director. Such requests will take an
additional one (1) working day to produce a Final Computation Sheet.
III. Reservation Agreement Confirmation
a. If you already agree on the payment terms based on the Final Computation Sheet,
submit a signed copy to the MHI Property Broker/ Sales Agent together with your
payment of the Reservation Fee.
b. For Online Transactions, you may pay through our accredited local bank accounts.
Inform the MHI Property Broker/ Sales Agent handling you that you will be paying the
Reservation Fee through bank deposit and he or she will be assisting you with the
needed information for this.
c. An Official Receipt shall be issued upon accepting your payment.
d. For Online Transaction, an official receipt shall be issued upon receiving the bank
deposit slip.
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The reservation fee is non-refundable and is valid for a duration of thirty (30) days from the
date of issue of the Official Receipt.
Completing the reservation requirements is a must. You are given thirty (30) days to submit
the following:
1. Signed Buyer’s Confirmation/ Reservation Agreement indicating conditions of
Reservation and Confirmation of Purchase.
2. Photocopy of Valid ID’s
3. Only if applicable, Special Power of Attorney (SPA) *If buyer is not present
and/or is out of the country, the SPA has to be consularized.
4. Valid ID of Special Power of Attorney hold
5. Tax Identification Number (TIN)
6. Community Tax Certificate (CTC)
7. Signed Deed of Restrictions
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The reservation fee is transferrable but shall incur additional charges.
For transferring your reservation, you must first inform your MHI Property Broker/ Sales
Agent. The MHI Property Broker/ Sales Agent shall pass this concern to the Sales Director.
Once approved, you will be a new Final Computation sheet for the new payment terms
pertaining to the new unit you wish to acquire. After deciding, you will need to pay the
additional charges for the transfer of reservation. An Official Receipt shall be issued upon
payment.
After officially waiving of the reservation of the former unit, you will need to go through the
process of Reservation Agreement Confirmation.
After all these process, you will be asked to sign a Contract to Sell (especially for Cash and Inhouse Financing). Make sure that you secure and submit all documents required within thirty
(30) days to avoid the cancellation of your reservation.
STEP II. PAYMENTS AND FINANCING TERMS
You can choose from three payment options in availing an MHI Home:
1. Cash
2. In-house financing
a. 0% interest in one year
b. Maximum term of 10 years
3. External Financing
a. Bank ( Metrobank, BDO, PNB and etc.)
b. PAG-Ibig (Home Development Mutual Fund)
Cash Payment
MHI Cash payments are defined as full payments made within 30 days from date of reservation.
You may proceed in paying your unit through spot on cash, installment cash or post dated checks (PDC).
Usually, Cash Payments have discounts. Confirm this to your MHI Property Broker/ Sales Agent.
In-House Financing
In-house financing scheme offers you flexible payment terms. This is available for all housing
projects. You may choose from the following:
1.
2.
3.
4.
12 months @ 0% interest rate (promotional only)
2-4 years @ 12% interest rate
5-7 years @ 15% interest rate
8-10 years @ 18% interest rate
MRI & SRI will be payable annually @ MHI’s accredited bank/ insurance companies.
The completion of 30% Down Payment is required for Unit Occupancy. After paying the
Reservation fee, you must start paying your Down Payment 30 days after issuance of Official Receipt.
Installment buyers will be governed by BP 220 & PD 957
Bank Financing
Bank Financing schemes are only available through:
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Metrobank
BDO
PNB
PAG-Ibig
PAG-Ibig Financing is available to all housing projects. Consult your MHI Broker/ Sales Agent for
the whole process of this scheme. One major requirement for loan release is that the house being
applied is 100% complete.
Pag-Ibig Financing can give a maximum of Six Million Pesos (Php 6,000,000.00). The required
Down Payment is at least 20% of the Total Contract Price payable within 18 months. Down Payment may
vary due to your loan qualification as a PAG-Ibig member. Consult your MHI Broker/ Sales Agent
regarding this matter.
Based on the terms of payment agreed upon your Reservation Agreement or Contract to Sell,
the payment of your Down Payment shall commence 30 days after the issuance of Official Receipt of
Reservation Fee.
Your MHI Broker/ Sales Agent shall inform you regarding the due date of you monthly payment.
We require Post Dated Checks (PDC) payment only for the Down Payment.
STEP III. DOCUMENTARY REQUIREMENTS
Step by Step Guideline in Making Cash Payment
1. Day 1- 5 counting from the Reservation Date
a. To complete the reservation of your unit, you must submit the following
 Reservation Agreement
 Official Receipt of Reservation
 Signed Final Computation Sheet
 Valid ID
 Photocopy of TIN
 If applicable, SPA
 Proof of Billing
b. After completing all these requirements, the MHI Broker/ Sales Agent handling your
account shall endorse these documents to the Sales Department for the preparation
of Deed of Absolute Sale (DOAS).
2. Day 5-15 shall focus on preparing the Deed of Absolute sale. First, we will make a draft and
send you a copy. Review this and wait for us to contact you once the official DOAS have
been released and is ready for signing.
3. Day 15- 30. At this point, you have had enough time to review the copy of DOAS sent to you.
Gathering all the documents submitted and payments have been officially verified and
cleared, you can now proceed to the signing of the DOAS.
4. You will then be issued a Turnover Clearance Form and together with our Turnover Team
with our MHI Broker/ Salesperson handling you, the unit purchased shall be inspected.
Step by Step Guideline in In-house Financing
a. To complete the reservation of your unit, you must submit the following
 Reservation Agreement
 Official Receipt of Reservation
 Signed Final Computation Sheet
 Valid ID
 Photocopy of TIN
 If applicable, SPA
 Proof of Billing
b.
c.
d.
e.
f.
g.
After completing all these requirements, the MHI Broker/ Sales Agent handling your
account shall endorse these documents to the Sales Department for the preparation of the
Contract to Sell (CTS) based on the agreed payment terms seen and in reference in you
Final Computation Sheet.
Within the 5 to 15 days upon your reservation, we will be sending you a draft of the CTS for
you to review together with the copies of the reservation agreement you’ve signed.
Within 16 to 30 days upon your reservation, your CTS shall be released and you will be
asked to prepare and submit the required number of PDC’s.
After signing the CTS, you shall submit this to your MHI Broker/ Sales Agent.
After paying the required Down Payment, we will ask for payment and verification from the
Accounting Office.
Once payments are cleared, you will be issued a Turnover Clearance form and together
with our Turnover Team and the MHI Broker/ Sales Agent handling you, the purchased unit
shall be inspected.
Step by Step Guideline in Bank Financing
1. The very first step in this mode of payment is to choose from which MHI accredited banks.
Your MHI Broker/ Sales Agent shall secure an application form you will need to fill out.
2. Your MHI Broker/ Sales Agent shall coordinate with you to accomplish the bank
requirements you need to submit after completing the filling out of application form. Most
banks require the following:
a. Credit Information, Personal Data and Income
 If Employed (local)
 Certificate of Employment
 Latest Pay Slips (Usually two months from date of application)
 Proof of Billing
 ITR
 PDC for Down Payment/ Equity
 If Overseas or Abroad (OFW)
 POEA Authenticated Contract (Seaman)*
 COE Authenticated by Philippine Consulate (Hired Directly by
Employer)
 PDC for Down Payment/ Equity
 If Self-Employed
 Business Name (DTI Registration) for Single Proprietorship
 SEC Registration (if applicable) for Partnership or Corp.
 Articles of Incorporation and By –laws for Partnership or Corp.
 References ( at least 3 names and telephone numbers of major
transactions or customers)
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Financial Statements for the last two years (audited)
Proof of Billing
PDC for Down Payment/ Equity
ITR
Clearance Turnover form shall be issued upon the release of loan and the completion of the
required Down Payment.
3. After submitting the requirements to your MHI Broker/ Sales Agent, you will wait for the
loan approval which normally takes 15 working days.
4. Issue PDC’s to cover the Down Payment worth 20% of the Total Contract Price. Payment of
the Down Payment shall commence thirty (30) days upon the issuance of the Official Receipt
of the Reservation.
5. After receiving the bank’s loan approval, you are required to submit the following.
a. Signed Bank Loan Documents
 Deed of Assignment
 Promissory Note
 Real Estate Mortgage
 SPA
 And other possible requirements
b. Submit Requirements of the Bank
 PDC’s
 Mortgage Redemption Insurance (MRI)
 Insurance of the property to be financed
 And other possible requirements
c. Pay bank charges
 Documentary Stamp Tax
 Notarial Fees
 Mortgage Fees
d. Our finance department will require the following:
 Issued PDC’s payable to the Developer for the Down Payment/ Equity
 Settle Transfer fees to the Developer
 Sign Contract to Sell or Deed of Sale
Documents should be submitted to the Finance Department within thirty (30) days from the
date of issuance of Official Receipt of Reservation. In case that you requirements are not complied
within the required number of days or in the event that of bank’s disapproval, your account shall
automatically be transferred to In-house Financing.
Step by Step Guideline in PAG-Ibig Financing
1. To complete your reservation you must submit the following:
 Signed Reservation agreement and Official Receipt of Reseration
 Signed Final Computation Sheet
 Valid ID (Government Issued)
 Photocopy of Tin
 SPA (if applicable)
 Proof of Billing Address
2. These are the Requirement as mandated by PAG-Ibig:
I.
If Employed
 PAG-Ibig Housing Loan Application (Notarized and 3 Copies)
 Attend Loan Counseling
 3 pcs. ID picture (1x1)
 ITR (Income Tax Return)
 Latest Pay Slip (Last Two Months upon Loan Application)
 Certificate of Employment
 Proof of Billing
 Post Dated Checks
 Latest Community Tax Certificate
 Marriage Contract (if applicable)
 SPA (if applicable)
 Valid ID (Government Issued)
II.
Self- Employed
 PAG-Ibig Housing Loan Application (Notarized and 3 copies)
 Attend Loan Counseling
 3 pcs. ID picture (1x1)
 Financial Statement
 Latest Balance Sheet
 Latest Income Statement
 Financial Report (audited)
 SEC Registration for Partnership or Corporation
 Articles of Incorporation for Partnership or Corporation
 DTI Permit
 Business Permit
 Proof of Billing
 PDC
 Marriage Contract (if applicable)
 SPA (if applicable)
OFW/ Abroad
 PAG-Ibig Housing Loan Application (Notarized and 3 copies)
III.
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Attend Loan Counseling (c/o SPA)
3 pcs. ID picture (3x3)
Certificate of Employment
Latest Payslip
Latest Contract (if employed abroad)
Proof of Billing
PDC’s
Photocopy of Passport
Marriage Contract (if applicable)
SPA (if applicable)
Valid ID’s
If your loan has been disapproved, your MHI Broker/ Sales Agent shall advise you on other possible
payment options.