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It offers flexible terms fitting to your needs in building your perfect home.
Purpose:
Purchase of house and lot, townhouse, and any other single-family dwelling.
Purchase of lot and construction of house.
Construction of house on lot already owned.
Purchase of residential lot or residential farm lot.
Major repair, improvement or expansion of an existing house or dwelling unit.
Term: Maximum 10 years.
Loan Amount: 60% -70% of the appraised value but MUST NOT BE BELOW P50,000.00 loan application.
Mode of Payment: Monthly, Quarterly, Semi-Annually, & Annually (Depends on the source of income of the client)
Qualification Requirements:
1. Original copy of OCT/TCT (collateral)
2. Original Copy of Tax Declaration (Land & Building – if applicable)
3. Certified True Copy from Registry of Deeds
4. Current Real Estate Tax Receipt and/or Real Estate Tax Clearance (Land & Building – if applicable)
5. One Valid Photo Bearing ID as proof of identification
6. 1x1 ID Picture (2 pcs)
7. Any Proof of Income: Payroll or Pay slip (3 months) / ITR / Certificate of Remuneration. For business – ITR w/ Financial Statement (Audited or In-House) with Business of DTI Permits / Bank Statement / Monthly Pension / Remittances Receipts / Pisada or Certification / Contracts / Receipts / Log Books of Rentals / Notarize Affidavit of Support with proof of income of the Executor / Notarize Contract to Sell and Self Certification limited to P10,000 monthly income with AO’s Income Validation
8. Co-maker (if necessary) with attachment of signed co-maker statement, valid ID, any proof of income and cash flow
9. Life Insurance (Optional Only)
10. Signed Authority to Debit
11. Executed Real Estate Mortgage
12. (SPA) Special Power of Attorney (if necessary) attaching the VALID ID, TIN or BIRTH CERTIFICATE of the ORIGINAL OWNERS
13. Affidavit of Non-Tenancy (For Agricultural Land Classification)
14. Others if required / necessary:
a. Fire Insurance on Building (if building is included in the appraisal)
b. DAR Clearance or Certification (For Agri-Land beyond 5 hectares
c. Bond (Sec. 4, Rule 74)
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