Product Specification
A Home Loan is a loan package designed to finance one or more of the following:
1.1 Purchase of a residential lot, a house with a lot, a condominium, or a townhouse;
1.2 House construction, renovation, or expansion;
1.3 Refinancing of any housing loan with other financial institutions (buy-out);
1.4 Reimbursement of the amount paid for a house, lot, condo, or townhouse; or 1. 5 Purchase of another investment property.
Loan Cap: Based on the loanable value of the property to be financed, at most, $500,000.00.
120-month maximum term
Payment options include monthly, semi-monthly, weekly, and daily payments.
Documentary Needs
A. Photocopy of the most recent tax declaration, tax receipts, and tax clearance
B. Certified true copy of land title from the Registry of Deeds (all pages)
C. Map of the location or surrounding area
D. Certificate of Ownership Intention to Sell- if purchasing a lot, house and lot, condominium, or townhouse
E. Documents proving the applicant’s income, such as a certificate of employment, pay stubs, business permits, invoices, proofs of billing, and so on, depending on the source of income.
F. A photocopy of any government-issued identification card
G. If a condominium is purchased, a master deed of declaration of restrictions, a condominium certificate of title for the unit and any parking slots (if any), and an occupancy permit are require.
H. Other Documents:
- For the Construction of a New House/Building
- Building Plan or Floor Plan, Bills of Materials and Labor Cost, Building Specifications certified by Architect/Civil Engineer
I. Loan Refinancing - Mortgage Lender Statement of Account
- Mortgage Lender Statement of Account; and 2. Proof of Payment for the Previous Six Months
