Build Now Pay Later
Banks make sure that they do not release cash without making sure that there is adequate collateral. For example, if you have a 1 Million value Lot and you are constructing a 5 Million Value House thru a loan, they will not release the 5 Million loan in its entirety when you have not started the construction yet. They will be released in tranches. This also means you would need cash or equity so that the bank will release the loan tranche.
However, thru Build Now Pay Later, there is a chance we can build without cash or equity on hand. The value of your lot should be of considerable value compared to the value of your house. This Build Now Pay Later Calculator will help you compute the approximate size of the house as well as the maximum value of the house that can be financed thru a Build Now Pay Later scheme.
Dream Home Within Reach
ARCtist Construction Corporation is your partner in building your Dream House! Your Dream home is now within reach! Build it through our BUILD NOW PAY LATER scheme.
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0% downpayment = 100% construction!
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One-stop shop for your Dream Home
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High quality premium materials
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Affordable & flexible payment terms
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Payable up to 20 years thru
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Bank financing
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PAG-IBIG financing
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Our Build Now Pay Later Calculator
How do I know what floor area or value of the house I can avail of with a Build Now Pay Later scheme? Note when using our Build Now Pay Later Home Loan Calculator:​
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01
Input Lot Area in our Build Now Pay Later Calculator
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Input Lot Market Value (per square meter)
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Lightly Touch the Green Box for results to appear.
If you are using a smart phone, lightly touch the yellow box to edit "Lot Area" until keyboard appears (about 3 tries). Upon entering the "Lot Area", lightly touch and edit "Lot per square meter Lot Market Value". After this, lightly touch "Monthly Bank Payments" for results to appear. If changing the interest rate, don't forget to add % sign.
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OUR OPINION:
It is our opinion and observation that in every Presidential election in the years 1998, 2004, 2010, 2016, and 2022, and also during the early months of the Covid Pandemic, interest rates seem to drop. During times of uncertainty, the demand for loans seems to drop since investors adopt a "wait and see" attitude. It is also our observation that interest rates increase when inflation rates increase since the demand for loans also increases due to the increase in the cost of goods and services.
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"In summary, if you are constructing using a home loan from the bank, be sure to have atleast 40% cash or equity ready since banks release in tranches, banks under assess and we would need funds while waiting for the bank to release in 2 weeks."
How to Prepare for a Construction Loan
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Transfer the Property Title
First things first, make sure that the title is already under your name. Banks will require that the property title is already under the primary borrower’s name, otherwise, they will automatically decline your application.
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Hire a Construction Company
​You need to work with a team that you trust as the construction of your home, as well as the preparation for it, depends on this. Make sure that the company that you will hire has been vetted properly. Check their business registration, past projects, and reviews.
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Get a Floor Plan
A floor plan, usually created with the help of an architect or construction company, is a scaled drawing that showcases your desired layout for your build.
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Get a Bill of Materials
Your hired construction company can usually provide you with a Bill of Materials (BoM). It is a detailed list of all of the necessary raw materials or components along with the labor cost that you would need to construct your dream home.
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Apply for a Loan
Applying for a construction loan involves compiling and filling up a number of documents that can understandably overwhelm any borrower. With ARCtist, we take charge of the entire application process for you while you wait for updates in the comfort of your home. Additionally, ARCtist's home loan experts will guarantee that you get the best construction loan that fits your specific circumstances and needs.
