Loan facility for qualified clients who want to avail the following:
- Purchase of lot in developed area.
- Purchase of a complete residential unit to be occupied by the borrower.
- Construction of a residential unit on a borrower's property.
- Home improvement loan for expansion or remodeling of residential unit duly occupied by the borrower.
- Refinancing of real estate loan with other lending institutions secured by the residential unit occupied by the borrower.
- Purchase of a lot and construction of a house thereon.
Product Features Loan Amount
|Purchase of lot||Maximum of P2,000,000|
|Purchase of house and lot / unit.||Maximum loan amount is P5,000.000|
|Construction of a residential unit||Maximum of P3,000,000|
|Home improvement||Maximum of P2,000,000|
|Purchase of lot and construction thereon||Maximum of P5,000,000|
|Refinancing of an existing loan||Based on outstanding loan value.|
|MAXIMUM LOAN VALUATION||70% OF THE APPRAISED VALUE.|
|Loan term||Maximum period of 20 years. Borrower's age limit is 65 years old at the time the loan is fully paid.|
|Repayment terms||Equal monthly amortization thru postdated checks via diminishing amortization scheme.|
Click here to view prevailing rates
- Provides more flexibility as compared to existing housing loans in the market.
- Competitive interest rates.
- Employed or self-employed individuals.
- At least five (5) years residing in present address.
- Monthly amortization should not exceed fifty percent (50%) of the borrower’s monthly net income.
- Age of borrower should not exceed 65 years at the time of loan maturity.
Documentary Requirements for Employed
- Latest Income Tax Return of Applicant and / or co - borrowers.
- Certificate of Employment and Salary or
- Last month's payslip
Documentary Requirements for Self - Employed
- Financial Statements for the past 3 years.
- Certificate of business registration with SEC.
- Articles of Incorporation and By-Laws.
INFORMATION ON COLLATERAL PROPERTY
- RD Certified photocopy of Transfer Certificate of Title or Condominium Certificate of Title (CCT) and Master Deed of Declaration and Mother TCT.
- Lot Plan and Location / Vicinity map.
- Owner's Collateral Appraisal Authorization.
ADDITIONAL REQUIREMENTS ACCORDING TO LOAN PURPOSE
- If Construction / Renovation / Expansion:
- Building plans and specifications.
- Bill of materials and construction cost estimate (up to completion) certified by architect or contractor.
- Contractor's Agreement/Contract between borrower and contractor/ contract with sub- contractor, if any.
- Building Permit.
- Latest ITR.
- Statement of Account on Mortgage or Borrower.
- Copies of Official receipts evidencing mortgage payments.